Verizon to Redeem Debt Securities
NEW YORK, Oct. 23, 2014 -- 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"):
Make-Whole Principal Amount Principal Amount
CUSIP Number Title of Security Premium Outstanding to be Redeemed
4.90% notes
92344G AW6 due September 15, 20 $500,000,000 $500,000,000
2015(1)
92343V AC8 5.55% notes due 25 $598,324,000 $598,324,000
February 15, 2016(1)
020039 AE3 7.00% debentures 10 $143,328,000 $143,328,000
due March 15, 2016(2)
92343V AY0 3.00% notes due April 20 $1,250,000,000 $1,250,000,000
1, 2016(1)
2.50% notes
92343V BN3 due September 15, 30 $3,182,335,000 $1,000,000,000
2016(1)
92343V AG9 5.50% notes due April 25 $396,969,000 $396,969,000
1, 2017(1)
92343V AQ7 8.75% notes due 75 $735,653,000 $735,653,000
November 1, 2018(1)
92344S AK6 8.50% notes
92344S AG5 due November 15, 2018 75 $380,591,000 $380,591,000
U9220Q AD6 (3)
_____________
(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
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CONTACT: Bob Varettoni, 908-559-6388, robert.a.varettoni@verizon.com
