Verizon Communications
Verizon Communications Inc. (və-RY-zən) is an American multinational telecommunications conglomerate and a corporate component of the Dow Jones Industrial Average.
Key facts
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| Also Known As | Verizon |
|---|---|
| CAGE Code | 3HMR4 |
| Legal Name | Verizon Communications Inc. |
| Company Operating Status | Active |
| Full Address | 1095 AVE OF THE AMERICAS NEW YORK, NY 10036 UNITED STATES |
| Motto/Tagline | Never Settle |
| Official Name | Verizon Communications Inc. |
| Public/Private | Public |
| Stock Symbol | VZ |
| Ticker Symbol | VZ |
| Wellfound ID | verizon |
Capital structure
$6.0bn total debt
| Instrument | Coupon | Maturity | Amount | Source |
|---|---|---|---|---|
| 3 Year Term Loan · Senior Unsecured | Eurodollar Rate + Applicable Rate (1.125%-1.875%) or Base Rate + | — | USD 6.0bn | source ↗ |
Covenant analysis
| Covenant | Term | vs market | Source |
|---|---|---|---|
| Accounting Changes · Negative Covenant | No change in accounting policies or reporting practices except as required or permitted by GAAP, to implement IFRS, or where effect is immaterial | source ↗ | |
| Compliance with Laws · Affirmative Covenant | Comply in all material respects with all applicable laws including ERISA and Environmental Laws | source ↗ | |
| Financial Reporting – Quarterly · Affirmative Covenant | Deliver unaudited quarterly financial statements within 60 days after end of each of first three fiscal quarters | source ↗ | |
| Financial Reporting – Annual · Affirmative Covenant | Deliver annual audited financial statements within 120 days after fiscal year end | source ↗ | |
| Default Notice · Affirmative Covenant | Notify Administrative Agent within 5 Business Days of occurrence of any Default | source ↗ | |
| Other Liens – Basket · Negative Covenant | Other Liens securing Debt or other obligations not to exceed $400,000,000 at any time outstanding | market $400m vs basket median $300m (n=49) | source ↗ |
| Judgment Default · Event of Default | Final judgment for payment of money in excess of $400,000,000 with 60-day stay of enforcement | loose $400m vs event of default median $125m (n=62) | source ↗ |
| Change of Control · Event of Default | Any person acquires >50% of Voting Stock; or majority of Board replaced within 11-month period | loose 50% vs event of default median 40% (n=25) | source ↗ |
| Commitment Fee · Fee | 0.10% per annum on daily unused Commitments from Effective Date until Commitments terminated | tight 0.1% vs fee median 0.25% (n=19) | source ↗ |
Contact details
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