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Verizon Communications Inc. to Redeem 4.35% Notes, due February 15, 2013

^{Published on 2012-11-08 06:46:09 - Market Wire}
 

Verizon Communications Inc. to Redeem 4.35% Notes, due February 15, 2013 -- NEW YORK, Nov. 8, 2012 /PRNewswire/ --

NEW YORK, Nov. 8, 2012 /PRNewswire/ -- Verizon Communications Inc. today announced that it will redeem the entire outstanding principal amount of its $750 million 4.35% Notes, due February 15, 2013 (CUSIP 92343V AJ3) (the "Verizon Securities") and that a subsidiary, Verizon Virginia LLC, will redeem the entire outstanding principal amount of its $1 billion 4.625% Debentures, Series A, due March 15, 2013 (CUSIP 92345N AA8) (the "Virginia Securities" and, collectively with the Verizon Securities, the "Securities").  The redemption date for the Verizon Securities will be December 11, 2012 and the redemption date for the Virginia Securities will be December 10, 2012. 

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 applicable redemption date) discounted to the applicable redemption date for that series of Securities 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 25 basis points, plus accrued and unpaid interest to the applicable redemption date, and will be payable on the applicable redemption date.  Interest will cease to accrue on and after December 11, 2012 with respect to the Verizon Securities and December 10, 2012 with respect to the Virginia Securities. 

The name and address of the paying agent for the redemptions is:

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 96 million retail customers 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, including all of the Fortune 500.  A Dow 30 company with $111 billion in 2011 revenues, Verizon employs a diverse workforce of 184,500.  For more information, visit [ www.verizon.com ].

VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at [ www.verizon.com/news ].  To receive news releases by email, visit the News Center and register for customized automatic delivery of Verizon news releases.

SOURCE Verizon Communications Inc.