Verizon announces tender offers/consent solicitations for 31 series of Verizon and certain of its subsidiaries' notes

NEW YORK - Verizon Communications Inc. ("Verizon") (NYSE, NASDAQ: VZ) today announced that the early participation date has been extended until 11:59 p.m. (New York City time) on December 13, 2017 (the "Extended Early Participation Date"), with respect to its previously announced (i) 31 separate offers, for its own account and on behalf of certain of its wholly-owned subsidiaries, to purchase for cash (the "Tender Offers") up to $1.0 billion aggregate purchase price of the outstanding series of notes listed below (collectively, the "Notes"), and (ii) solicitations of consents, on behalf of such subsidiaries, to the proposed amendments (the "Proposed Amendments") to the indentures governing the Notes issued by such subsidiaries (collectively, the "Subsidiary Notes") in order to, among other things, eliminate certain of the restrictive covenants contained therein (the "Consent Solicitations"), in each case on the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated November 15, 2017 (the "Offer to Purchase and Consent Solicitation Statement" and, together with the accompanying letter of transmittal, the "Offer Documents").  Accordingly, the Extended Early Participation Date will occur at the same time the Tender Offers and Consent Solicitations are scheduled to expire.  Holders of Notes who validly tender their Notes at or prior to the Extended Early Participation Date and whose Notes are accepted by Verizon will be eligible to receive the Total Consideration (as defined in the Offer to Purchase and Consent Solicitation Statement), which includes the Early Participation Payment (as defined in the Offer to Purchase and Consent Solicitation Statement).  The deadline to validly withdraw tenders (and, with respect to the Subsidiary Notes, validly revoke the related consents) of Notes was not modified by Verizon, and expired with respect to all series of Notes at 5:00 p.m. (New York City time) on November 29, 2017.  Verizon today also announced the early participation results, as of 5:00 p.m. (New York City time) on November 29, 2017 (the "Original Early Participation Date"), of the Tender Offers and Consent Solicitations. Click here for more.

from Cellular News http://bit.ly/2nikVmT