Verizon today also announced that it will increase the Waterfall Cap (as defined below), with respect to its previously announced 9 separate offers, on behalf of itself and of certain of its wholly-owned subsidiaries, from an aggregate purchase price (excluding the applicable Accrued Coupon Payments (as defined in Verizon's press release dated May 11, 2026)) of $1,250,000,000 of the outstanding series of debt securities listed in Table 2 below (the "Waterfall Notes" and, together with the Any and All Notes, the "Notes" and such offers, the "Waterfall Tender Offers" and, together with the Any and All Tender Offers, the "Tender Offers") that are validly tendered and not validly withdrawn at or prior to the Waterfall Notes Early Participation Date (as defined below) to a total aggregate purchase price that shall be in an amount sufficient to allow Verizon to purchase the full aggregate principal amount of all Waterfall Notes validly tendered and not validly withdrawn at or prior to the Waterfall Notes Early Participation Date (approximately $1.4 billion) (the "Waterfall Cap"). The previously announced early participation date with respect to the Waterfall Notes was not modified by Verizon and remained 5:00 p.m. (New York City time) on June 1, 2026. The deadline to validly withdraw tenders (and, with respect to the Any and All Notes, validly revoke the related consents) of Notes was not modified by Verizon, and expired with respect to all series of Notes at 5:00 p.m. (New York City time) on June 1, 2026.
Verizon today also announced the early participation results, as of 5:00 p.m. (New York City time) on June 1, 2026 (with respect to the Any and All Notes, the "Original Any and All Notes Early Participation Date" and with respect to the Waterfall Notes, the "Waterfall Notes Early Participation Date"), of the Tender Offers and Consent Solicitations.
Except as set forth herein, all other terms, provisions and conditions of the Tender Offers and Consent Solicitations will remain in full force and effect as set forth in the Offer Documents. There are no other modifications or extensions being made with respect to the Tender Offers and Consent Solicitations other than those announced here.
Verizon was advised by Global Bondholder Services Corporation, as the Information Agent and the Tender Agent, that as of the Original Any and All Notes Early Participation Date and the Waterfall Notes Early Participation Date, the aggregate principal amounts of the Notes (and, with respect to the Any and All Notes, the related consents) specified in the tables below were validly tendered and not validly withdrawn with respect to the Tender Offers and Consent Solicitations:
Table 1
Any and All of the Outstanding Any and All Notes and related Consent Solicitations Listed Below:
CUSIPNumber
Issuer(1)
Title of Security
Maturity Date
PrincipalAmountOutstanding
Principal Amount Tendered as of the Original Any and All Notes Early Participation Date
Percentage of Principal Amount Outstanding Tendered as of the Original Any and All Notes Early Participation Date
362333AH9
Frontier Florida LLC
6.860% Debentures due 2028
2/1/2028
$282,289,000
$233,437,000
82.69%
362337AK3
Frontier North Inc.
6.730% Debentures, Series G due 2028
2/15/2028
$200,000,000
$124,546,000
62.27%
020039AJ2
Alltel Corporation
6.800% Debentures due 2029
5/1/2029
$38,098,000
$599,000
1.57%
165087AL1
Verizon Virginia LLC
8.375% Debentures due 2029
10/1/2029
$8,993,000
$1,990,000
22.13%
165069AP0
Verizon Maryland LLC
8.000% Debentures due 2029*
10/15/2029
$19,981,000
$876,000
4.38%
645767AW4
Verizon New Jersey Inc.
7.850% Debentures due 2029
11/15/2029
$44,704,000
$4,326,000
