Verizon to redeem select Verizon InterNotes® due 2024-2037

Rhea-AI Summary

Verizon Communications (NYSE: VZ) announced plans to redeem several outstanding notes on June 15, 2021. The redemption will cover various Verizon InterNotes with a total principal amount of approximately $107 million, including notes due between 2024 and 2037. Each note will be redeemed at 100% of its principal, plus accrued interest. Verizon, a major global technology and communications provider, reported revenues of $128.3 billion in 2020. Investors should note this strategic move in managing debt and the associated implications for cash flow and interest obligations.

NEW YORK, May 14, 2021 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (NYSE, NASDAQ: VZ) today announced that it will redeem the following outstanding notes (the “Notes”) on June 15, 2021 (the “Redemption Date”):

CUSIP Number		Title of Note		Principal Amount Outstanding		Principal Amount to be Redeemed
92346MFJ5 92346MFF3 92346MFG1 92346MFM8 92346MFP1 92346MFR7 92346MFT3 92346MGF2 92346MGB1 92346MGD7 92346MDK4 92346MDD0 92346MEM9 92346MEP2 92346MEK3 92346MFV8 92346MFZ9 92346MFX4 92346MAN1 92346MAJ0 92346MAE1		2.000% Verizon InterNotes® due August 15, 2024 2.000% Verizon InterNotes® due August 15, 2024 2.600% Verizon InterNotes® due August 15, 2029 2.350% Verizon InterNotes® due September 15, 2029 2.600% Verizon InterNotes® due September 15, 2029 2.600% Verizon InterNotes® due October 15, 2029 2.600% Verizon InterNotes® due October 15, 2029 2.550% Verizon InterNotes® due December 15, 2029 2.600% Verizon InterNotes® due December 15, 2029 2.600% Verizon InterNotes® due December 15, 2029 4.000% Verizon InterNotes® due August 15, 2030 4.100% Verizon InterNotes® due August 15, 2030 3.800% Verizon InterNotes® due March 15, 2031 3.800% Verizon InterNotes® due March 15, 2031 3.850% Verizon InterNotes® due March 15, 2031 2.700% Verizon InterNotes® due November 15, 2031 2.750% Verizon InterNotes® due November 15, 2031 2.800% Verizon InterNotes® due November 15, 2031 4.400% Verizon InterNotes® due June 15, 2037 4.450% Verizon InterNotes® due June 15, 2037 4.500% Verizon InterNotes® due June 15, 2037		$929,000 $1,767,000 $1,442,000 $217,000 $896,000 $593,000 $1,521,000 $548,000 $323,000 $591,000 $1,704,000 $1,786,000 $471,000 $843,000 $2,886,000 $326,000 $513,000 $436,000 $19,909,000 $20,197,000 $37,249,000		$929,000 $1,767,000 $1,442,000 $217,000 $896,000 $593,000 $1,521,000 $548,000 $323,000 $591,000 $1,704,000 $1,786,000 $471,000 $843,000 $2,886,000 $326,000 $513,000 $436,000 $19,909,000 $20,197,000 $37,249,000

The redemption price for each of the Notes will be equal to 100% of the principal amount of such Note, plus accrued interest on the principal amount being redeemed to the Redemption Date.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $128.3 billion in 2020. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

Cautionary Statement Regarding Forward-Looking Statements

In this communication we have made forward-looking statements. These forward-looking statements are not historical facts, but only predictions and generally can be identified by use of statements that include phrases such as “will,” “may,” “should,” “continue,” “anticipate,” “believe,” “expect,” “plan,” “appear,” “project,” “estimate,” “intend,” or other words or phrases of similar import. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements. These forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated. Factors that could materially affect these forward-looking statements can be found in our periodic reports filed with the SEC. Eligible holders are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date of this press release, and we undertake no obligation to update publicly these forward-looking statements to reflect new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events might or might not occur. We cannot assure you that projected results or events will be achieved.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at www.verizon.com/about/news/. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
Eric Wilkens
eric.wilkens@verizon.com
201.572.9317
@ericwilkens

FAQ

What notes is Verizon redeeming on June 15, 2021?

Verizon is redeeming various outstanding notes, including 2.000% to 4.500% Verizon InterNotes due from 2024 to 2037.

What is the total principal amount of notes Verizon plans to redeem?

Verizon plans to redeem approximately $107 million in outstanding notes.

When is the redemption date for Verizon's notes?

The redemption date for the notes is June 15, 2021.

What will be the redemption price for Verizon's notes?

The redemption price for each note will be equal to 100% of its principal amount, plus accrued interest.