Verizon Communications 8-K

Summary

Verizon exchange-offer and consent-solicitation results. Verizon accepted all validly tendered notes across 11 series, with settlement scheduled for 6/22/2026. The exchange offers were separate from cash tender offers covering 20 series and were not conditioned on them.

Key Figures

• Accepted for exchange $161M total principal across 11 note series: 6.860% debentures due 2028, $2.9M (1.03%); 6.730% debentures due 2028, $8.4M (4.20%); 6.800% debentures due 2029, $0.6M (1.57%); 8.375% debentures due 2029, $3.6M (39.98%); 8.000% debentures due 2029, $4.9M (24.40%); 7.850% debentures due 2029, $11.8M (26.33%).
• Also accepted: 7.875% debentures due 2029, $69.2M (52.03%); 8.300% debentures due 2031, $6.3M (30.06%); 8.625% debentures due 2031, $2.0M (85.89%); 7.875% senior notes due 2032, $32.1M (57.41%); 5.125% debentures due 2033, $19.6M (14.06%). New notes will have the same economic terms, including interest rates and maturities, as the corresponding old notes.
• Requisite consents were received for amendments to six series due 2028–2032, including elimination of certain restrictive covenants and other provisions. Verizon said all exchange-offer conditions were satisfied or waived; total consideration, including the early participation payment and separate cash consent payment, is payable on 6/22/2026. Verizon will enter into a registration rights agreement for the new notes on that date.

Investor Takeaways

• Watch for settlement on 6/22/2026, when accepted notes are exchanged and the registration rights agreement is to be entered into.