TELECOMMUNICATIONS

Verizon Extends Exchange Offers Deadline

By Chris Stiles • Tuesday, June 02 09:39 • Permanent Link

Verizon extended the early participation date for its exchange offers and consent solicitations to June 16, 2026 from the earlier deadline, and said the settlement date is now expected to be June 22, 2026, the third business day after expiration.

The company also reported early tender results as of June 1 across 11 note series, showing total principal tendered of about $157.3 million out of $945.6 million outstanding, or roughly 16.6%.

The largest early participation rates came from: Verizon Delaware’s 8.625% debentures due 2031, with $2.045 million tendered out of $2.381 million outstanding, or 85.89%. Alltel’s 7.875% senior notes due 2032, with $32.027 million tendered out of $55.847 million, or 57.35%. Verizon New England’s 7.875% debentures due 2029, with $69.235 million tendered out of $133.077 million, or 52.03%. Verizon Virginia’s 8.375% debentures due 2029, with $3.595 million tendered out of $8.993 million, or 39.98%.

Lower participation was reported in several other series: Frontier Florida’s 6.860% debentures due 2028: $2.719 million tendered, 0.96% of $282.289 million outstanding. Frontier North’s 6.730% debentures due 2028: $8.364 million tendered, 4.18% of $200 million outstanding. * Alltel’s 6.800% debentures due 2029: $600,000 tendered, 1.57% of $38.098 million outstanding.

Other results included: Verizon Maryland 8.000% debentures due 2029: $4.875 million tendered, 24.40%. Verizon New Jersey 7.850% debentures due 2029: $10.17 million tendered, 22.75%. Verizon Maryland 8.300% debentures due 2031: $4.115 million tendered, 19.49%. Verizon Maryland 5.125% debentures due 2033: $19.535 million tendered, 14.05%.

Verizon said consents delivered for notes in the exchange offers will be combined with consents delivered in its separate cash tender offers. The cash tender offers and exchange offers remain separate, and holders can tender a given series into only one of the two offers. As a result of these announcements, the company's shares have moved -0.29% on the market, and are now trading at a price of $47.669. Check out the company's full 8-K submission here.

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