Verizon announces pricing terms for $2.5B private exchange and cash tender offers on 10 note series

VERIZON COMMUNICATIONS INC

New 5.401% notes due July 2, 2037 offered in exchange for 10 series of outstanding notes; $2.5B aggregate cap.
Cash offers for same 10 series with pricing based on reference Treasury yield plus spread; settlement expected June 25, 2025.
Minimum issue requirement of $750M for exchange offers; waterfall acceptance priority levels applied.
Offers expire June 18, 2025; eligible holders are QIBs or non-U.S. persons.
Verizon may waive or increase the New Notes Maximum Amount; registration rights agreement for New Notes.

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