Frontier Florida LLC, Frontier North Inc., Alltel Corporation, Verizon Virginia LLC, Verizon Maryland LLC, Verizon New Jersey Inc., Verizon New England Inc., Verizon Delaware LLC, Verizon Communications Inc., Frontier California Inc., Verizon New York Inc., Verizon Pennsylvania LLC, Frontier West Virginia Inc. announced that Verizon Communications Inc. amended the terms of its previously announced Tender Offers and Consent Solicitations to extend the early participation date until June 16, 2026, with respect to its previously announced 11 separate offers, on behalf of certain of its wholly-owned subsidiaries, to purchase for cash any and all of the debt securities listed in Table 1 below (the ?Any and All Notes? and such offers, the ?Any and All Tender Offers?) as well as solicit consents to the proposed amendments to the indentures governing the Any and All Notes issued by such subsidiaries in order to, among other things, eliminate certain of the restrictive covenants and other provisions contained therein on the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated May 11, 2026. Accordingly, the Any and All Notes Extended Early Participation Date will occur at the same time the Any and All Tender Offers and Consent Solicitations are scheduled to expire.
Holders of Any and All Notes who validly tender their Any and All Notes at or prior to the Any and All Notes Extended Early Participation Date and whose Any and All Notes are accepted by Verizon will be eligible to receive the Total Consideration, which includes the Early Participation Payment. Verizon also announced that it will increase the Waterfall Cap, with respect to its previously announced 9 separate offers, on behalf of itself and of certain of its wholly-owned subsidiaries, from an aggregate purchase price (excluding the applicable Accrued Coupon Payments) of $1,250,000,000 of the outstanding series of debt securities listed in Table 2 below (the ?Waterfall Notes? and, together with the Any and All Notes, the ?Notes?
and such offers, the ?Waterfall Tender Offers? and, together with the Any and All Tender Offers, the ?Tender Offers?) that are validly tendered and not validly withdrawn at or prior to the Waterfall Notes Early Participation Date to a total aggregate purchase price that shall be in an amount sufficient to allow Verizon to purchase the full aggregate principal amount of all Waterfall Notes validly tendered and not validly withdrawn at or prior to the Waterfall Notes Early Participation Date (approximately $1.4 billion) (the ?Waterfall Cap?). The previously announced early participation date with respect to the Waterfall Notes was not modified by Verizon and remained 5:00 p.m. (New York City time) on June 1, 2026.
The deadline to validly withdraw tenders (and, with respect to the Any and All 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 June 1, 2026. Verizon also announced the early participation results, as of 5:00 p.m. (New York City time) on June 1, 2026 (with respect to the Any and All Notes, the ?Original Any and All Notes Early Participation Date? and with respect to the Waterfall Notes, the ?Waterfall Notes Early Participation Date?), of the Tender Offers and Consent Solicitations.
Verizon was advised by Global Bondholder Services Corporation, as the Information Agent and the Tender Agent, that as of the Original Any and All Notes Early Participation Date and the Waterfall Notes Early Participation Date, the aggregate principal amounts of the Notes (and, with respect to the Any and All Notes, the related consents) specified in the tables below were validly tendered and not validly withdrawn with respect to the Tender Offers and Consent Solicitations: Any and All of the Outstanding Any and All Notes and related Consent Solicitations Listed: Frontier Florida LLC?s 6.860% debentures due February 1, 2028 have a principal amount outstanding of $282.3 million, with $233.4 million (82.69%) participating early, while Frontier North Inc.?s 6.730% debentures due February 15, 2028 show $200.0 million outstanding with $124.5 million (62.27%) participation. Alltel Corporation?s 6.800% debentures due May 1, 2029 have $38.1 million outstanding but only $0.6 million (1.57%) participating. Several Verizon entities also appear: Verizon Virginia LLC?s 8.375% debentures due October 1, 2029 have $9.0 million outstanding with 22.13% participation, and Verizon Maryland LLC?s 8.000% debentures due October 15, 2029 show $20.0 million outstanding with 4.38% participation.
Verizon New Jersey Inc. and Verizon New England Inc. have $44.7 million and $133.1 million outstanding, respectively, with participation rates of 9.68% and 15.08%. Later-maturity securities include Verizon Maryland LLC?s 8.300% debentures due 2031 with minimal participation (1.11%), Verizon Delaware LLC?s 8.625% debentures due 2031 with no participation, Alltel Corporation?s 7.875% senior notes due 2032 with $55.8 million outstanding and 7.37% participation, and Verizon Maryland LLC?s 5.125% debentures due 2033 with $139.1 million outstanding and 13.74% participation. Outstanding Waterfall Notes in the Waterfall Tender Offers Listed: At priority level 1, Frontier California Inc.?s 6.750% debentures due May 15, 2027 have a principal amount outstanding of $200 million, with $109.1 million tendered for early participation, representing 54.56%.
At priority level 2, Verizon New York Inc.?s 6.500% debentures due April 15, 2028 have $34.8 million outstanding, with $1.9 million (5.46%) tendered. At priority level 3, Verizon Pennsylvania LLC?s 6.000% debentures due December 1, 2028 show $44.1 million outstanding, with $9.2 million (20.96%) tendered. Frontier West Virginia Inc.?s 8.400% debentures due October 15, 2029, at priority level 4, have $50 million outstanding with significantly high participation of $48.5 million or 97.03%.
At priority levels 5 and 6, Verizon Pennsylvania LLC?s 8.350% debentures due 2030 and 8.750% debentures due 2031 have outstanding amounts of $31.1 million and $34.9 million, with participation rates of 27.75% and 69.52%, respectively. At priority level 7, Verizon New York Inc.?s 7.375% debentures due April 1, 2032 have $99.4 million outstanding, with $17.6 million (17.65%) tendered. At priority level 8, Verizon Communications Inc.?s 6.940% notes due April 15, 2028 have $249.8 million outstanding, with $48.8 million (19.51%) tendered.
Finally, at priority level 9, Verizon Communications Inc.?s 2.100% notes due March 22, 2028 represent the largest issuance with $2.07 billion outstanding, of which $1.14 billion (55.27%) has been tendered.


















