# Verizon Caps Five Note Tender Offers at $500 Million in Total Consideration

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/43740
Published: 2026-10-29T17:53:40.000Z
Updated: 2026-10-29T17:53:40.000Z
Section: Business

> The three highest-priority series share a $155 million total-consideration subcap. The offers cover notes due from 2028 through 2061.

Verizon Communications Inc. set a $500 million limit on total consideration for five cash tender offers for outstanding notes. Purchases will follow a priority order, and the three highest-ranked series share a separate $155 million total-consideration subcap; both limits exclude accrued interest.

The offers cover notes maturing from 2028 through 2061. In priority order, they include 3.000% notes due Nov. 20, 2060, with $1,864,262,000 outstanding; 3.700% notes due March 22, 2061, with $2,670,732,000 outstanding; and 2.650% notes due Nov. 20, 2040, with $1,948,887,000 outstanding. Those three series are subject to the shared subcap.

The fourth series is $917,789,000 of 2.100% notes due March 22, 2028. The fifth is $1,140,001,000 of 3.150% notes due March 22, 2030. If tenders exceed the applicable limits, the priority order governs purchases; the terms also allow Verizon to prorate purchases or leave lower-priority series unaccepted.

Verizon will calculate each purchase price using the relevant U.S. Treasury yield at 2 p.m. ET Nov. 4, plus a fixed spread. The spreads, in priority order, are 110, 115, 130, 25 and 50 basis points. Final yields and purchase prices have not been set.

The offers are scheduled to expire at 5 p.m. ET Nov. 4, unless extended or terminated earlier. Verizon expects to settle accepted notes Nov. 9 and plans to disclose the accepted principal amounts and any proration factor by 10 a.m. ET Nov. 5. Holders whose notes are accepted will receive the applicable purchase consideration plus accrued and unpaid interest through, but excluding, the settlement date.