Summary by Moomoo AI
On December 6, 2024, Verizon filed a registration statement with the SEC for an exchange offer involving $2.19 billion of 4.780% Notes due 2035. The offer aims to exchange these Original Notes for a like principal amount of Exchange Notes registered under the Securities Act. The Exchange Offer will expire at 5:00 p.m., New York City time, on a specified date in 2025, unless extended.The Exchange Notes will have identical terms to the Original Notes, excluding transfer restrictions and registration rights. Verizon will not receive cash proceeds from this offer, and the exchange will not increase outstanding indebtedness. The exchange is not taxable for U.S. federal income tax purposes. No public market exists for the Original Notes, and Verizon does not plan to list the Exchange Notes on any securities exchange.
