Verizon Communications Inc.
("Verizon") VZ today announced the expiration and final
results of its previously announced tender offer (the "Tender Offer") to
purchase for cash any and all of its outstanding $1,250,000,000 aggregate
principal amount of 8.95% Notes due 2039 (CUSIP No. 92343VAR5) (the "Notes").
The Tender Offer was subject to the terms and conditions set forth in the
Offer to Purchase, dated November 2, 2012, relating thereto (the "Offer to
Purchase"). The Tender Offer expired at 5:00 p.m., New York City time, on
Friday, November 9, 2012 (the "Expiration Time").
Verizon was advised by Global Bondholder Services Corporation, as the
depositary and information agent for the Tender Offer, that as of the
Expiration Time, $896,624,000 aggregate principal amount of the Notes,
representing approximately 71.73% of the aggregate principal amount of the
Notes currently outstanding, were validly tendered and not withdrawn prior to
the Expiration Time. Verizon has accepted for payment all of the tendered
Notes.
Payment for Notes accepted for purchase will be made on the expected
settlement date of November 13, 2012 (the "Settlement Date"). On the
Settlement Date, Verizon will pay holders who validly tendered and did not
withdraw their Notes at or prior to the Expiration Time the purchase price of
$1,864.63 for each $1,000 principal amount of Notes accepted for purchase,
plus accrued and unpaid interest from and including the last interest payment
date for the Notes to, but not including, the Settlement Date.
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