Verizon Communications Inc. (NYSE:VZ) is one of the most undervalued NYSE stocks to invest in. On June 17, Verizon Communications announced the expiration and final results of its cash tender offers and consent solicitations for 20 series of notes issued by the company and its subsidiaries. The company successfully accepted for purchase a total aggregate principal amount of ~$1.86 billion in notes, validly tendered and not withdrawn by the June 16 deadline.
The consent solicitations for several specific series of debentures and notes achieved the requisite consent to move forward with proposed amendments to their governing indentures. These amendments are intended to eliminate certain restrictive covenants and other provisions contained within the original agreements.
This process, which included both tender offers and separate exchange offers, marks the conclusion of the company’s previously announced efforts to manage its debt portfolio. All conditions for the offers were either satisfied or waived by the Expiration Date, with Verizon Communications Inc. (NYSE:VZ) confirming the final principal amounts accepted for each series.
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Verizon Communications Inc. (NYSE:VZ) operates as a holding company and, through its subsidiaries, provides communications, technology, information, and streaming services to consumers, businesses, and government customers. Its Consumer segment offers both wireless and wireline communication services.
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