Milbank LLP represented the underwriters in connection with Verizon’s $3.75 billion hybrid bond offering, consisting of $2 billion 6.600% fixed-to-fixed rate junior subordinated notes due 2059 and $1.75 billion 6.750% fixed-to-fixed rate junior subordinated notes due 2057. Verizon intends to use the net proceeds for general corporate purposes, which may include, depending on the market and other conditions, the repayment of outstanding indebtedness.
The Milbank deal team was led by Corporate Finance and Securities partner Paul Denaro and associates Abir Varma, Maria Schweinberger and Nishkarsh Jakhar. The deal team also included Tax partner Andrew Walker and associate Blake Rocks.
