Summary
Verizon Communications Inc. (VZ) filed an 8-K on February 12, 2014, to report the closing of a significant debt offering. The company successfully issued €1.75 billion in 2.375% Notes due 2022, €1.25 billion in 3.25% Notes due 2026, and £850 million in 4.75% Notes due 2034. This issuance was conducted under an effective shelf registration statement filed in September 2013. This debt issuance indicates Verizon's proactive approach to managing its capital structure and securing long-term financing. Investors should note the substantial amounts raised in both Euros and Pounds Sterling, suggesting a strategy to diversify funding sources and potentially hedge against currency fluctuations. The specific coupon rates and maturity dates provide insights into the cost of this long-term debt and the company's borrowing capacity in the international markets at that time.
Key Highlights
- 1Verizon Communications Inc. closed a debt offering on February 11, 2014.
- 2The offering included €1.75 billion of 2.375% Notes due 2022.
- 3The offering also included €1.25 billion of 3.25% Notes due 2026.
- 4Additionally, £850 million of 4.75% Notes due 2034 were issued.
- 5The debt was issued under a previously filed shelf registration statement.
- 6Key purchasers included Banco Santander, S.A., Credit Suisse Securities (Europe) Limited, Deutsche Bank AG, and The Royal Bank of Scotland plc.