New Issue: Verizon Communications prices $2.39 billion notes due 2060 at par to yield 3.6%

By Cristal Cody

Tupelo, Miss., Feb. 6 – Verizon Communications Inc. (Baa1/BBB+/A-) priced $2,385,000,000 of 40-year notes on Thursday at par to yield 3.6%, according to an FWP filing with the Securities and Exchange Commission.

Deutsche Bank AG, Taipei Branch, Morgan Stanley Taiwan Ltd. and BNP Paribas Securities Corp., Taipei Branch were the bookrunners.

The company has applied to list the dollar notes on the Taipei Exchange.

Proceeds from the offering will be used for general corporate purposes.

Verizon is a New York City-based telecommunications company.

Issuer:	Verizon Communications Inc.
Amount:	$2,385,000,000
Description:	Notes
Maturity:	Feb. 24, 2060
Bookrunners:	Deutsche Bank AG, Taipei Branch, Morgan Stanley Taiwan Ltd. and BNP Paribas Securities Corp., Taipei Branch
Junior agents:	Banco Santander, SA, BNP Paribas, Taipei Branch, C.L. King & Associates, Inc., ICBC Standard Bank plc, Loop Capital Markets LLC, Mischler Financial Group, Inc., Samuel A. Ramirez & Co., Inc. and Siebert Williams Shank & Co., LLC
Coupon:	3.6%
Price:	Par
Yield:	3.6%
Call feature:	Every Feb. 24 on or after Feb. 24, 2025 at par
Trade date:	Feb. 6
Settlement date:	Feb. 24
Ratings:	Moody’s: Baa1
	S&P: BBB+
	Fitch: A-
Distribution:	SEC registered
Listing:	Taipei Exchange

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