Verizon Buys Back $1B in Notes
Ticker: VZ · Form: 8-K · Filed: May 13, 2024 · CIK: 732712
| Field | Detail |
|---|---|
| Company | Verizon Communications Inc (VZ) |
| Form Type | 8-K |
| Filed Date | May 13, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.10 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-management, notes-offering, debt-repurchase
Related Tickers: VZ
TL;DR
Verizon just bought back $1B of its debt, offer was oversubscribed.
AI Summary
On May 9, 2024, Verizon Communications Inc. announced the results of its offer to purchase for cash up to $1.0 billion aggregate principal amount of its outstanding notes. The offer, which expired on May 9, 2024, was oversubscribed, with Verizon accepting tenders for $1,000,000,000 of notes across various series.
Why It Matters
Verizon is actively managing its debt by repurchasing a significant amount of its outstanding notes, potentially improving its balance sheet and financial flexibility.
Risk Assessment
Risk Level: low — This filing is a routine debt management activity and does not indicate any significant new risks for the company.
Key Numbers
- $1.0B — Notes Offered for Purchase (Maximum amount Verizon was willing to buy back.)
- $1.0B — Notes Accepted for Purchase (The actual amount of notes Verizon repurchased.)
Key Players & Entities
- Verizon Communications Inc. (company) — Filer
- $1.0 billion (dollar_amount) — Aggregate principal amount of notes offered for purchase
- $1,000,000,000 (dollar_amount) — Aggregate principal amount of notes accepted for purchase
- May 9, 2024 (date) — Expiration date of the offer to purchase notes
FAQ
What was the purpose of the offer to purchase notes?
The purpose was to repurchase for cash up to $1.0 billion aggregate principal amount of its outstanding notes.
When did the offer to purchase notes expire?
The offer to purchase notes expired on May 9, 2024.
Was the offer to purchase notes oversubscribed?
Yes, the filing indicates the offer was oversubscribed.
How much in aggregate principal amount of notes did Verizon accept for purchase?
Verizon accepted tenders for $1,000,000,000 aggregate principal amount of notes.
What is the filing date of this 8-K?
This 8-K was filed on May 13, 2024.
Filing Stats: 1,077 words · 4 min read · ~4 pages · Grade level 7.9 · Accepted 2024-05-13 16:16:10
Key Financial Figures
- $0.10 — ich Registered Common Stock, par value $0.10 VZ New York Stock Exchange Common
Filing Documents
- d804766d8k.htm (8-K) — 88KB
- 0001193125-24-137239.txt ( ) — 434KB
- vz-20240509.xsd (EX-101.SCH) — 10KB
- vz-20240509_def.xml (EX-101.DEF) — 25KB
- vz-20240509_lab.xml (EX-101.LAB) — 46KB
- vz-20240509_pre.xml (EX-101.PRE) — 28KB
- d804766d8k_htm.xml (XML) — 42KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VERIZON COMMUNICATIONS INC. Date: May 13, 2024 By /s/ William L. Horton, Jr. William L. Horton, Jr. Senior Vice President, Deputy General Counsel and Corporate Secretary