8-KFinancial EventsOther EventsExhibits & Filings

VERIZON COMMUNICATIONS INC 8-K Report, Financial Obligation (Jan 9, 2009)

Filed January 9, 2009For Securities:VZ

Summary

This Form 8-K filing from Verizon Communications Inc. (VZ) primarily details the successful completion of Verizon Wireless's acquisition of Alltel Corporation on January 9, 2009. This significant strategic move is expected to bolster Verizon Wireless's market position and expand its customer base. To finance this acquisition, Verizon Wireless secured a substantial $12.35 billion in borrowing under a credit agreement dated December 19, 2008. These funds were utilized for payments related to the acquisition. Investors should note that this filing marks a key operational and financial event for Verizon, indicating a period of strategic growth and increased leverage.

Key Highlights

  • 1Verizon Wireless has successfully completed the acquisition of Alltel Corporation as of January 9, 2009.
  • 2The acquisition was financed through a $12.35 billion borrowing under a credit agreement dated December 19, 2008.
  • 3The borrowed funds were specifically allocated to cover payments related to the Alltel acquisition.
  • 4The filing incorporates by reference the Agreement and Plan of Merger, detailing the terms of the Alltel acquisition.
  • 5A related press release issued by Verizon Wireless is included as an exhibit, providing further context.
  • 6This event represents a significant strategic expansion for Verizon Wireless.

Frequently Asked Questions

The main purpose of this filing is to report the completion of Verizon Wireless's acquisition of Alltel Corporation and to disclose the significant debt incurred to finance this transaction.

Verizon Wireless borrowed $12.35 billion under a credit agreement to fund payments associated with the Alltel acquisition.

While this filing doesn't explicitly state the expected impact, the acquisition of a competitor like Alltel is generally intended to expand market share, customer base, and potentially enhance network reach and services.

Yes, the filing incorporates by reference the Credit Agreement dated December 19, 2008, and the Agreement and Plan of Merger dated June 5, 2008, as exhibits.