Verizon to redeem debt securities

NEW YORK, April 5, 2016 /PRNewswire/ -- Verizon Communications Inc. ("Verizon") (NYSE, Nasdaq: VZ) today announced that it will redeem the following series of notes on April 8, 2016 (the "Redemption Date"):

The redemption price for each series of notes will be equal to the sum of the present values of the remaining scheduled payments of principal and interest on that series of notes (exclusive of interest accrued to the Redemption Date), discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the applicable series of notes) plus the applicable make-whole premium, as set forth in the table above (the "Redemption Price"), plus accrued and unpaid interest on the principal amount being redeemed to but excluding the Redemption Date.  The Redemption Price will be calculated in accordance with the terms of such series of notes on the third business day preceding the Redemption Date.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) employs a diverse workforce of 177,700 and generated nearly $132 billion in 2015 revenues. Verizon operates America's most reliable wireless network, with more than 112 million retail connections nationwide. Headquartered in New York, the company also provides communications and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers worldwide.

Cautionary Statement Regarding Forward-Looking Statements

In this communication we have made forward-looking statements.  These forward-looking statements are not historical facts, but only predictions and generally can be identified by use of statements that include phrases such as "will," "may," "should," "continue," "anticipate," "believe," "expect," "plan," "appear," "project," "estimate," "intend," or other words or phrases of similar import.  Similarly, statements that describe our objectives, plans or goals also are forward-looking statements.  These forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated.  Factors that could materially affect these forward-looking statements can be found in our periodic reports filed with the SEC. Eligible holders are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on these forward-looking statements.  The forward-looking statements included in this press release are made only as of the date of this press release, and we undertake no obligation to update publicly these forward-looking statements to reflect new information, future events or otherwise.  In light of these risks, uncertainties and assumptions, the forward-looking events might or might not occur.  We cannot assure you that projected results or events will be achieved.

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Media contact: 
Bob Varettoni
908-559-6388
[email protected]

SOURCE Verizon