Verizon (NYSE: VZ) issues $4B in long-dated junior subordinated notes
Rhea-AI Filing Summary
Verizon Communications Inc. has closed a major debt financing, selling $2,000,000,000 of 6.050% Fixed‑to‑Fixed Rate Junior Subordinated Notes due 2058 and $2,000,000,000 of 6.200% Fixed‑to‑Fixed Rate Junior Subordinated Notes due 2056. The notes were issued under an effective shelf registration statement on Form S‑3, with several large investment banks acting as purchasers’ representatives. This report mainly files the global note forms for these securities as exhibits, formally tying the new junior subordinated notes to Verizon’s existing shelf registration.
Positive
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Insights
Verizon adds $4B in long‑dated junior subordinated notes under its shelf.
Verizon completed a debt offering of $2,000,000,000 6.050% junior subordinated notes due 2058 and $2,000,000,000 6.200% junior subordinated notes due 2056. These instruments sit low in the capital structure and typically count as hybrid capital.
The deal was executed off an effective Form S‑3 shelf (Reg. No. 333‑289928) through a syndicate including BNP Paribas, Goldman Sachs, J.P. Morgan, Mizuho, Morgan Stanley, Santander and Wells Fargo. Pricing at 6.050% and 6.200% suggests investors required relatively high coupons for this long‑dated, subordinated exposure.
The filing itself is largely administrative, adding the global note forms as exhibits. The economic impact depends on how this $4,000,000,000 in junior subordinated debt interacts with Verizon’s broader funding mix, which would be evaluated alongside future financial disclosures.
8-K Event Classification
Key Figures
Key Terms
Fixed-to-Fixed Rate Junior Subordinated Notes financial
aggregate principal amount financial
shelf registration statement regulatory
Form S-3 regulatory
global note financial
