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MarketScreener Homepage  >  Equities  >  Nyse  >  Verizon Communications Inc.    VZ

VERIZON COMMUNICATIONS INC.

(VZ)
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Verizon Communications : to redeem debt securities on December 18, 2020

11/18/2020 | 08:01am EST

NEW YORK, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (“Verizon”) (NYSE, NASDAQ: VZ) today announced that it will redeem the following notes on December 18, 2020 (the “Redemption Date”):

I.D. NumberTitle of SecurityPrincipal Amount
Outstanding
CUSIP: 92343V CC6
ISIN: US92343VCC63
Common Code: 104629598
3.45% Notes due 2021 (the “Notes”)$565,749,000

The redemption price for the Notes will be equal to the greater of (i) 100% of the principal amount of the Notes being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes being redeemed (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 Notes) plus 20 basis points (the “Redemption Price”), plus, in either case, 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 the Notes on the third Business Day (as defined in the Notes) preceding the Redemption Date.

Questions relating to the notice of redemption and related materials should be directed to the paying agent: U.S. Bank National Association, Attn: Corporate Trust Services, 111 Fillmore Ave E, St. Paul, MN 55107, or via telephone at 1-800-934-6802.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is celebrating its 20th year as one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $131.9 billion in 2019. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

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.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at www.verizon.com/about/news/. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
Eric Wilkens
Eric.wilkens@verizon.com
201.572.9317
@ericwilkens


verizon_logo_1300x400.jpg

Source: Verizon Communications

2020 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2020 128 B - -
Net income 2020 18 080 M - -
Net Debt 2020 104 B - -
P/E ratio 2020 13,1x
Yield 2020 4,33%
Capitalization 237 B 237 B -
EV / Sales 2020 2,66x
EV / Sales 2021 2,67x
Nbr of Employees 133 200
Free-Float 96,4%
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Number of Analysts 27
Average target price 62,21 $
Last Close Price 57,38 $
Spread / Highest target 22,0%
Spread / Average Target 8,42%
Spread / Lowest Target -5,89%
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NameTitle
Hans Erik Vestberg Chairman & Chief Executive Officer
Matthew D. Ellis Chief Financial Officer & Executive Vice President
Kyle J. Malady Chief Technology Officer & Executive VP
Clarence Otis Lead Independent Director
Melanie Liddle Healey Independent Director
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