secwatch.observer — SEC 8-K summary
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Issuer:     VERIZON COMMUNICATIONS INC (VZ)
CIK:        0000732712
Form:       8-K
Filed at:   2024-07-22T23:59:59+00:00
Accession:  0001193125-24-182250
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Verizon launches private exchange of up to $2.5B of new 2035 notes for 10 series of notes due 2025-2028
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- Offers to exchange up to $2.5B aggregate principal amount of new 2.0% notes due 2035 for 10 series of notes maturing 2025 to 2028.
- Eligible holders: QIBs and non-U.S. qualified offerees; tenders due by 5:00 p.m. ET on Aug 2 for early participation, expiring Aug 19.
- New notes coupon = yield on 4.375% UST due May 2034 plus 100 bps; minimum issue requirement of $500M.
- Early participants receive additional $50 per $1,000 principal in new notes; acceptance priority waterfall with proration if oversubscribed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/732712/000119312524182250/0001193125-24-182250-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/732712/000119312524182250/d810927d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-182250

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer