Published on 5/22/2017 in the Prospect News Investment Grade Daily.
New Issue: Verizon Communications sells $257 million of InterNotes in three parts
By Cristal Cody
Tupelo, Miss., May 22 – Verizon Communications Inc. (Baa1/BBB+/A-) sold $257,054,000 of senior InterNotes in three parts on Monday, according to a 424B2 filing with the Securities and Exchange Commission.
The company sold $30,438,000 of five-year notes at par to yield 2.6%.
Verizon priced $19,599,000 of 10-year notes at par to yield 3.65%.
Verizon priced $207,017,000 of 30-year notes at par to yield 4.9%.
The notes had a week-long offering period before pricing on Monday.
Incapital was the lead manager.
Verizon is a New York City-based telecommunications company.
| Issuer: | Verizon Communications Inc.
|
| Amount: | $257,054,000
|
| Description: | Senior InterNotes
|
| Bookrunner: | Incapital
|
| Co-managers: | BofA Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co., LLC, RBC Capital Markets, LLC and Wells Fargo Advisors
|
| Trade date: | May 22
|
| Settlement date: | May 25
|
| Distribution: | SEC registered
|
|
|
| Five-year notes
|
| Amount: | $30,438,000
|
| Maturity: | May 15, 2022
|
| Coupon: | 2.6%
|
| Price: | Par
|
| Yield: | 2.6%
|
|
|
| 10-year notes
|
| Amount: | $19,599,000
|
| Maturity: | May 15, 2027
|
| Coupon: | 3.65%
|
| Price: | Par
|
| Yield: | 3.65%
|
|
|
| 30-year notes
|
| Amount: | $207,017,000
|
| Maturity: | May 15, 2047
|
| Coupon: | 4.9%
|
| Price: | Par
|
| Yield: | 4.9%
|
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