NEW YORK, Oct. 23, 2014 /PRNewswire/ -- Verizon
Communications Inc. ("Verizon") (NYSE, NASDAQ: VZ; LSE: VZC) today
announced that it and its subsidiaries, Alltel Corporation and
Cellco Partnership d/b/a Verizon Wireless and Verizon Wireless
Capital LLC, will redeem the following series of securities on
November 24, 2014 (the "Redemption
Date"):
CUSIP
Number
|
Title of
Security
|
Make-Whole
Premium
|
Principal Amount
Outstanding
|
Principal Amount to
be Redeemed
|
92344G AW6
|
4.90% notes
due September 15, 2015(1)
|
20
|
$500,000,000
|
$500,000,000
|
92343V AC8
|
5.55% notes due
February 15, 2016(1)
|
25
|
$598,324,000
|
$598,324,000
|
020039 AE3
|
7.00% debentures
due March 15, 2016(2)
|
10
|
$143,328,000
|
$143,328,000
|
92343V AY0
|
3.00% notes due April
1, 2016(1)
|
20
|
$1,250,000,000
|
$1,250,000,000
|
92343V BN3
|
2.50% notes
due September 15, 2016(1)
|
30
|
$3,182,335,000
|
$1,000,000,000
|
92343V AG9
|
5.50% notes
due April 1, 2017(1)
|
25
|
$396,969,000
|
$396,969,000
|
92343V AQ7
|
8.75% notes due
November 1, 2018(1)
|
75
|
$735,653,000
|
$735,653,000
|
92344S AK6
92344S AG5
U9220Q AD6
|
8.50% notes
due November 15, 2018(3)
|
75
|
$380,591,000
|
$380,591,000
|
_____________
(1) Issued
by Verizon.
(2) Issued
by Alltel Corporation.
(3) Issued
by Cellco Partnership d/b/a Verizon Wireless and Verizon Wireless
Capital LLC.
The redemption price for each series of securities will be equal
to the sum of the present values of the remaining scheduled
payments of principal and interest on that series of securities
(exclusive of interest accrued to the Redemption Date), discounted
to the Redemption Date on a semi-annual basis (assuming a 360-day
year consisting of twelve 30-day months) at the Treasury Rate (as
defined in the applicable series of securities) plus the make-whole
premium, as set forth in the table above (the "Redemption Price"),
plus accrued and unpaid interest on the principal amount to the
Redemption Date. The Redemption Price for each series will be
calculated in accordance with the terms of such series on the third
business day preceding the Redemption Date.
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in
New York, is a global leader in
delivering broadband and other wireless and wireline communications
services to consumer, business, government and wholesale customers.
Verizon Wireless operates America's most reliable wireless network,
with more than 106 million retail connections nationwide. Verizon
also provides converged communications, information and
entertainment services over America's most advanced fiber-optic
network, and delivers integrated business solutions to customers in
more than 150 countries. A Dow 30 company with more than
$120 billion in 2013 revenues,
Verizon employs a diverse workforce of 178,500. For more
information, visit www.verizon.com/news/.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive
speeches and biographies, media contacts and other information are
available at Verizon's online News Center at
www.verizon.com/news/. The news releases are
available through an RSS feed. To subscribe, visit
www.verizon.com/about/rss-feeds/.
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SOURCE Verizon Communications Inc.