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Bell Atlantic Announces Redemption of 40-Year Debentures
July 24, 1998
| Media contact: | Jim Crosson, |
NEW YORK -- Bell Atlantic (NYSE:BEL) today announced the redemption, on
August 24, 1998, of $60 million principal amount of 40-year 7 3/4% debentures, due
November 1, 2013, which were issued by Bell Atlantic - Washington, D.C., its wholly owned telephone subsidiary.
The company said it will redeem the entire outstanding principal amount of these debentures at the redemption price of 102.08% of the principal amount, together with interest accrued to the redemption date.
The company said that on and after August 24, 1998, interest on these debentures will cease to accrue.
Bell Atlantic -- formed through the merger of Bell Atlantic and NYNEX -- is at the forefront of the new communications and information industry. With more than 41 million telephone access lines and more than 7 million wireless customers worldwide, Bell Atlantic companies are premier providers of advanced wireline voice and data services, market leaders in wireless services and the world's largest publishers of directory information. Bell Atlantic companies are also among the world's largest investors in high-growth global communications markets, with operations and investments in 23 countries.