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Verizon Launches Cash Tender, Private Exchange Offers for Outstanding Debt

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Verizon Communications (VZ) said Monday it started cash tender and private exchange offers for multiple series of outstanding notes.

The telecom provider is proposing to buy back any amount of specific debt securities alongside up to $1.25 billion of targeted "Waterfall" notes, the company said.

A concurrent exchange program permits qualified institutional buyers and international investors to trade 11 series of older unit debt for newly issued corporate notes, Verizon said.

Investors must submit their notes by June 1 to qualify for early participation benefits, while the overall transactions are scheduled to expire on June 16, the company said.

Price: $47.65, Change: $+0.43, Percent Change: +0.90%

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