Summary
Verizon Communications Inc. (VZ) filed an 8-K on May 15, 2020, to report the closing of a significant debt offering and the execution of a supplemental indenture. The company successfully sold C$1.3 billion in aggregate principal amount of notes, specifically C$1 billion of 2.500% Notes due 2030 and C$300 million of 3.625% Notes due 2050. This offering was conducted in Canadian dollars and was registered under an effective shelf registration statement filed in September 2019. The primary purpose of this filing is to provide investors with access to the legal documentation related to this debt issuance. This includes the Fifth Supplemental Indenture, which governs the terms of the newly issued notes, and the forms of the global notes themselves. The incorporation of these documents into the existing shelf registration statement signifies transparency and completeness regarding Verizon's financing activities.
Key Highlights
- 1Verizon closed a debt offering of C$1.3 billion on May 15, 2020.
- 2The offering consisted of C$1 billion of 2.500% Notes due 2030 and C$300 million of 3.625% Notes due 2050.
- 3The notes were issued in Canadian dollars.
- 4A new Fifth Supplemental Indenture was executed with U.S. Bank National Association, as Trustee.
- 5This supplemental indenture governs the terms of the newly issued notes.
- 6The offering was conducted under an existing shelf registration statement filed on Form S-3.
- 7The filing includes the Fifth Supplemental Indenture and forms of the notes as exhibits.