Verizon launches tender offers for $1.25 billion in debt securities

Verizon Communications Inc. (NYSE, NASDAQ: VZ) announced the launch of 20 separate tender offers to purchase debt securities for cash, according to a statement released May 11, 2026.

The telecommunications company is offering to purchase any and all of certain debt securities from its subsidiaries, plus up to $1.25 billion in additional notes through a waterfall methodology. The offers include debt from subsidiaries including Frontier Florida LLC, Verizon Virginia LLC, and Alltel Corporation, with maturity dates ranging from 2027 to 2033.

The company is simultaneously soliciting consent to amend indentures governing certain subsidiary notes to eliminate restrictive covenants. Holders who tender notes in the any-and-all offers must also provide consent to the proposed amendments.

The tender offers expire at 5:00 p.m. New York time on June 16, 2026, unless extended. To receive the full consideration including an early participation payment of $50 per $1,000 principal amount, holders must tender notes by 5:00 p.m. on June 1, 2026.

For the waterfall tender offers, notes will be accepted based on priority levels, with the highest priority given to Frontier California Inc.'s 6.750% debentures due 2027. If early participation tenders exceed the $1.25 billion cap, Verizon will accept notes starting from the highest priority level until reaching the cap limit.

Goldman Sachs, J.P. Morgan Securities, Morgan Stanley, and Wells Fargo Securities serve as lead dealer managers for the offers. Global Bondholder Services Corporation acts as tender agent.

Settlement is expected on the third business day following the expiration date. Total consideration will be determined based on Treasury security yields plus fixed spreads, with final pricing announced June 2, 2026.

You May Also Be Interested In

• PowerBank reports three New York solar projects totaling 4.48 MW operational
• Seer and Korea University share early cancer screening proteomics data
• Brunswick's Navico Group announces operational changes at Lowell facility