Verizon to List $500 Million in Retail Notes on NYSE

February 6, 2014

NEW YORK, Feb. 6, 2014 /PRNewswire/ – Earlier today, Verizon Communications Inc. (NYSE, Nasdaq: VZ) closed its sale of $500 million of retail notes to a large number of investors in a transaction involving 21 underwriting firms. Verizon sold the retail notes in $25 increments and expects to list the notes on the New York Stock Exchange within the next 30 days.

The retail notes are designed to permit individual investors the opportunity to easily and affordably purchase Verizon debt. This is Verizon’s first offering of retail notes in more than a decade.

The retail notes will mature on Feb. 15, 2054, and are subject to a call option five years after their issuance. Verizon will pay quarterly interest on the notes at a rate of 5.9 percent per year. Further information is available in a prospectus posted on Jan. 31 at www.verizon.com/investor/secfiling.htm.

The underwriters include 11 minority- and women-owned firms as well as two firms that are owned and operated by service-disabled veterans:

    Underwriters                                       Principal Amount of Notes

    Merrill Lynch, Pierce, Fenner & Smith Incorporated                     $118,333,350

    Morgan Stanley & Co. LLC                                               $118,333,325

    Wells Fargo Securities, LLC                                            $118,333,325

    RBC Capital Markets, LLC                                                $20,000,000

    Drexel Hamilton, LLC                                                    $15,000,000

    Lebenthal & Co., LLC                                                    $15,000,000

    Loop Capital Markets LLC                                                $15,000,000

    Samuel A. Ramirez & Company, Inc.                                       $15,000,000

    Barclays Capital Inc.                                                    $5,000,000

    Citigroup Global Markets Inc.                                            $5,000,000

    J.P. Morgan Securities LLC                                               $5,000,000

    Raymond James & Associates, Inc.                                         $5,000,000

    Blaylock Robert Van, LLC                                                 $5,000,000

    C.L. King & Associates, Inc.                                             $5,000,000

    CastleOak Securities, L.P.                                               $5,000,000

    Guzman & Company                                                         $5,000,000

    The Williams Capital Group, L.P.                                         $5,000,000

    Muriel Siebert & Co., Inc.                                               $5,000,000

    Mischler Financial Group, Inc.                                           $5,000,000

    MFR Securities, Inc.                                                     $5,000,000

    Great Pacific Securities                                                 $5,000,000

    Total                                                                  $500,000,000

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 nearly 103 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 176,800. For more information, visit www.verizon.com.

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 newscenter.verizon.com. The news releases are available through an RSS feed. To subscribe, visit newscenter.verizon.com/corporate/feeds.

SOURCE Verizon Communications Inc.

Source: PR Newswire

comments powered by Disqus