TLDR
- Verizon stock gains 0.18% to $46.26 as its expanded debt tender offer concludes.
- Verizon accepts $663.976 million in notes after raising tender purchase limits.
- Verizon raises its Waterfall Cap to $500.039 million under revised offer terms.
- Verizon excludes its 2040 notes despite $891.492 million tendered by holders.
- Verizon sets November 9 settlement for accepted notes and accrued interest.
Verizon Communications (VZ) stock gained as the telecommunications company expanded its debt tender offer and accepted nearly $664 million in notes. The company increased its purchase limits after receiving substantial participation across five outstanding debt series. Meanwhile, Verizon shares edged up 0.18% to $46.26, gaining $0.09 despite intraday volatility.
Verizon Communications Inc., VZ
Verizon Expands Tender Offer and Accepts $664 Million in Notes
Verizon announced the final results of five cash tender offers following their November 4, 2026, expiration. The company initially targeted a maximum aggregate purchase price of $500 million across selected outstanding notes. However, Verizon increased its purchase limits to accommodate additional debt securities under the revised terms.
The company raised its Waterfall Cap from $500 million to $500.039 million following the tender process. Additionally, Verizon increased its Sub Cap beyond the original $155 million limit to accept more qualifying notes. The revised structure allowed the company to purchase $663.976 million in aggregate principal across four debt series.
Verizon conducted the offers under terms established in its October 29, 2026, purchase document. All withdrawal rights expired at 5:00 p.m. New York City time on November 4. Furthermore, the company confirmed that it had satisfied or waived all conditions governing the transactions.
Verizon Details Accepted Notes and Proration Rates
Verizon accepted the entire $265.829 million tendered amount of its 3.000% notes maturing in November 2060. The company also accepted approximately $64.993 million of its 3.700% notes maturing in March 2061. However, the second series recorded an acceptance rate of approximately 11.75% following the revised purchase limits.
For its shorter-term debt, Verizon accepted $207.561 million of its 2.100% notes maturing in March 2028. The company purchased $125.593 million of its 3.150% notes scheduled to mature in March 2030. The latter series recorded an approximate proration rate of 33.33%, reflecting demand above the available allocation.
Verizon excluded its 2.650% notes due November 2040 from the final purchases. Holders had tendered approximately $891.492 million of that series before the expiration deadline. Nevertheless, the revised acceptance priorities left those securities outside the final allocation.
Verizon Sets November 9 Settlement as VZ Stock Advances
Verizon scheduled settlement of the accepted notes for November 9, 2026, under the announced tender terms. Eligible holders will receive cash consideration based on the pricing terms Verizon announced on November 4. The company will pay accrued interest through November 8, alongside the applicable purchase consideration.
The company established different consideration amounts for each accepted debt series based on its pricing framework. These amounts range from $532.28 to $964.92 per $1,000 principal amount across the accepted securities. The final cash payments will reflect each series’ consideration and applicable accrued interest.
The transaction forms part of Verizon’s ongoing debt management activities involving its outstanding long-term obligations. Meanwhile, VZ shares retreated from intraday highs near $46.95 before recording a modest daily gain. The latest tender results confirm the company’s expanded purchases ahead of the scheduled settlement date.
