Full Transparency
Our editorial transparency tool uses blockchain technology to permanently log all changes made to official releases after publication.
More of our content is being permanently logged via blockchain technology starting [10.23.2020].
NEW YORK -- Verizon Communications Inc. (NYSE:VZ) today announced that on March 11, 2002, its wholly owned subsidiary Verizon Virginia Inc. (formerly The Chesapeake and Potomac Telephone Company of Virginia) will redeem the entire outstanding principal amount of three separate series of debentures. Verizon Virginia will redeem $50 million of its 5 1/4% Debentures, due May 1, 2005; $70 million of its 6 3/4% Debentures, due May 1, 2008; and $50 million of its 7 1/4% Debentures, due June 1, 2012.
The redemption price of 100 percent of the principal amount of the 5 1/4% Debentures, 100.32 percent of the principal amount of the 6 3/4% Debentures, and 101.05 percent of the principal amount of the 7 1/4% Debentures, in each case with interest accrued to the redemption date, will be payable on March 11, 2002. On and after March 11, interest will cease to accrue on the debentures.