Verizon Communications stock heads into note tender deadline
Published on 11/04/2026 at 15:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSVerizon sets debt tender terms
- Five note series are covered by cash tender offers expiring at 5:00 p.m. New York time on November 4.
- A waterfall structure ranks the notes by acceptance priority if tenders exceed the caps.
- Verizon expects settlement on November 9, subject to the offer conditions.
Verizon Communications announced on Thursday, October 29, that it had launched five cash tender offers for outstanding notes, putting the transaction on its November 4 expiration timetable. The company said in its tender-offer announcement that it may purchase up to USD 500 million of notes, excluding accrued coupon payments.
The offer covers five series maturing between 2028 and 2061. Verizon is applying a waterfall structure rather than accepting tenders solely on a first-come basis. Notes with the highest acceptance priority are considered first, while lower-priority securities may be accepted only if capacity remains or may be prorated.
Caps shape the acceptance order
Three of the series share a separate USD 155 million sub-cap: the 3.000% notes due November 20, 2060, the 3.700% notes due March 22, 2061, and the 2.650% notes due November 20, 2040. The other two series are the 2.100% notes due March 22, 2028, and the 3.150% notes due March 22, 2030.
Verizon listed acceptance priorities from one to five. If valid tenders exceed either limit, the company will work through the priority levels and may prorate the next series. The purchase consideration will be calculated using the yield of designated U.S. Treasury securities plus fixed spreads that range from 25 to 130 basis points, depending on the note series. The final consideration was scheduled to be set after 2:00 p.m. New York time on November 4.
The offers expire at 5:00 p.m. New York time on November 4, unless Verizon extends or terminates them earlier. Holders may withdraw tenders until that deadline. Verizon said the expected settlement date is November 9, subject to the conditions of the offers, and that accepted holders will receive accrued and unpaid interest through, but excluding, settlement.
Operational momentum adds context
The tender offers follow Verizon's third-quarter results released on October 26. In the earnings discussion, management reported adjusted earnings per share of USD 1.31, postpaid phone net additions of 406,000 and postpaid net account additions of 137,000. Verizon also raised its 2026 adjusted earnings-per-share growth outlook to 7% to 7.5% from 6% to 7%.
Management said third-quarter revenue reached USD 34.3 billion, up 1.5% from a year earlier, while adjusted EBITDA rose 8% to USD 13.8 billion. The company also reported quarterly free cash flow of USD 7.8 billion. These operating figures provide context for Verizon's continued focus on cash generation and balance-sheet management, but they do not determine the final acceptance amounts in the note offers.
Verizon Communications stock traded at 40.80 euros on Lang & Schwarz at 15:09:15 CET on Wednesday, November 4, 2026. The real-time quote of Verizon Communications stock is available for investors following the security.
Verizon Communications Inc.
- ISIN: US92343V1044
- Ticker: VZ
- Primary exchange: New York Stock Exchange
- Lang & Schwarz price: 40.80 euros at 15:09:15 CET on November 4, 2026
- Offer deadline: 5:00 p.m. New York time on November 4, 2026
- Expected settlement: November 9, 2026, subject to conditions
- Sector: Communication Services
U.S. telecom shares trade within the wider S&P 500 market environment, where interest rates and corporate financing costs remain relevant for highly leveraged issuers.
More news and analyses on Verizon Communications stock will follow as Verizon reports the tender results and any applicable proration.
