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Verizon New England, 7% QUIBS Quarterly Interest Bonds, Series B due 5/15/2042
Ticker Symbol: KVZ* CUSIP: 92344R201 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/10/2007
Security has been Called for: Monday, December 10, 2007
November 09, 2007 -- Verizon New England Inc., an indirect wholly-owned subsidiary of Verizon Communications Inc., today announced that it will redeem the entire outstanding principal amount of its $480 million 7% Debentures, Series B, due 2042, referred to as the Debentures, on Dec. 10, 2007. The Debentures were originally issued in increments of $25.00 and are currently traded on the New York Stock Exchange under the symbol "KVZ", (CUSIP 92344R201). The redemption price of 100.00% of the principal amount of the Debentures ($25.00 per increment), plus interest accrued and unpaid to the redemption date, will be payable on Dec. 10, 2007. On and after Dec. 10, 2007, interest will cease to accrue on the Debentures
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Verizon New England Inc., 7% Quarterly Interest Bonds (QUIBS), Series B, due 2042, issued in $25 denominations, redeemable at the issuer's option on or after 5/10/2007 at $25 per share plus accrued and unpaid interest, maturing 5/15/2042, distributions of 7% per annum are paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on 2/1, 5/1, 8/1 & 11/1 respectively. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. The QUIBS are senior unsecured indebtedness of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. Verizon New England is a wholly-owned subsidiary of Verizon Communications Inc. (NYSE: VZ). See the IPO prospectus for further information on the QUIBS by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (VZ)
IPO - 5/2/2002 - 18.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $446.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 140 West Street, New York, NY 10007 |
| Main Phone Number |
212-395-1000 |
| Fax Number |
908-630-2651 |
| Investor Relations
Ronald H. Lataille
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212-395-1525
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Toll Free Phone Number |
Unknown |
| CEO - Ivan G. Seidenberg |
CFO - Doreen A. Toben |
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