Verizon Communications plans to sell floaters via three bookrunners

By Devika Patel

Knoxville, Tenn., May 8 – Verizon Communications Inc. intends to price floating-rate notes, according to a 424B5 filed with the Securities and Exchange Commission.

Interest will accrue at a rate based on Libor.

The notes are callable at par two months prior to maturity.

Goldman Sachs & Co., Morgan Stanley & Co. LLC and Mizuho Securities USA Inc. are the bookrunners.

The company plans to use the proceeds for general corporate purposes or debt repayment.

Verizon is a New York-based telecommunications company.

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