NEW YORK, May 11, 2026 (GLOBE NEWSWIRE) -- Verizon Communications Inc. ("Verizon") ((NYSE, NASDAQ:VZ) today announced the commencement of 20 separate offers, for its own account and on behalf of certain of its wholly-owned subsidiaries, to purchase for cash (i) 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") and (ii) up to $1.25 billion aggregate purchase price 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"), on the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated May 11, 2026 (the "Offer to Purchase and Consent Solicitation Statement" and, together with the accompanying letter of transmittal, the "Offer Documents"). Concurrently with the Tender Offers, Verizon, on behalf of certain of its wholly-owned subsidiaries, is soliciting consents (the "Consent Solicitations") to the proposed amendments (the "Proposed Amendments") to the indentures governing the Any and All Notes issued by such subsidiaries (the "Existing Indentures") in order to, among other things, eliminate certain of the restrictive covenants contained therein, on the terms and subject to the conditions set forth in the Offer Documents. If a Holder (as defined below) validly tenders Any and All Notes in a Tender Offer, such Holder will be deemed to deliver its consent, with respect to the principal amount of such tendered Any and All Notes, to the Proposed Amendments. Holders may neither deliver their consents in a particular Consent Solicitation without tendering Any and All Notes in the related Tender Offer, nor may they tender Any and All Notes in a particular Tender Offer without delivering their consents with respect to such Any and All Notes in the related Consent Solicitation. The completion of any Tender Offer with respect to a series of Any and All Notes is not conditioned on the receipt of the requisite consents in the related Consent Solicitation.

Verizon is offering to accept for purchase any and all aggregate principal amount of validly tendered Any and All Notes. Verizon is offering to accept for purchase validly tendered Waterfall Notes using a "waterfall" methodology under which Waterfall Notes will be accepted in the order of their Acceptance Priority Levels listed below, subject to the Waterfall Cap (as defined below). The Waterfall Tender Offers are subject to the terms and conditions described in the Offer to Purchase and Consent Solicitation Statement, including (i) the Acceptance Priority Procedures (as described below) and (ii) a $1.25 billion cap (the "Waterfall Cap") on the total cash Verizon pays to purchase Notes validly tendered under the Waterfall Tender Offers (excluding the applicable Accrued Coupon Payments).

On the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement, Verizon is offering to purchase the following outstanding securities for the consideration described below. Terms not otherwise defined are defined in the Offer to Purchase and Consent Solicitation Statement.

Table 1Any and All of the Outstanding Any and All Notes and related Consent Solicitations Listed Below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CUSIPNumber

 

Issuer(1)

 

Title of Security

 

Maturity Date

 

PrincipalAmountOutstanding

 

Early Participation Payment(2)

 

Reference U.S. Treasury Security(3)

 

Bloomberg ReferencePage

 

Fixed Spread (Basis Points)(3)

 

Hypothetical Total Consideration(4)

362333AH9

 

Frontier Florida LLC

 

6.860% Debentures due 2028

 

2/1/2028

 

$282,289,000

 

$50

 

3.750% due 4/30/2028

 

FIT1

 

15

 

$1,043.29

362337AK3

 

Frontier North Inc.

 

6.730% Debentures, Series G due 2028

 

2/15/2028

 

$200,000,000

 

$50

 

3.750% due 4/30/2028

 

FIT1

 

15

 

$1,042.24

020039AJ2

 

Alltel Corporation

 

6.800% Debentures due 2029

 

5/1/2029

 

$38,098,000

 

$50

 

3.875% due 4/15/2029

 

FIT1

 

20

 

$1,071.42

165087AL1

 

Verizon Virginia LLC

 

8.375% Debentures due 2029

 

10/1/2029

 

$8,993,000

 

$50

 

3.875% due 4/15/2029

 

FIT1

 

25

 

$1,127.28

165069AP0

 

Verizon Maryland LLC

 

8.000% Debentures due 2029*

 

10/15/2029

 

$19,981,000

 

$50

 

3.875% due 4/15/2029

 

FIT1

 

25

 

$1,117.21

645767AW4

 

Verizon New Jersey Inc.

 

7.850% Debentures due 2029

 

11/15/2029

 

$44,704,000

 

$50

 

3.875% due 4/15/2029

 

FIT1

 

25

 

$1,115.28

644239AY1

 

Verizon New England Inc.

 

7.875% Debentures due 2029*

 

11/15/2029

 

$133,077,000

 

$50

 

3.875% due 4/15/2029

 

FIT1

 

25

 

$1,116.07

165069AQ8

 

Verizon Maryland LLC

 

8.300% Debentures due 2031

 

8/1/2031

 

$21,111,000

 

$50

 

3.875% due 4/30/2031

 

FIT1

 

45

 

$1,173.32

252759AM7

 

Verizon Delaware LLC