Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories


Paul Denaro

Milbank, Tweed, Hadley & McCloy LLP announced that it has represented the dealer managers in a pair of private exchange offers conducted by Verizon Communications Inc., one of which is the largest debt exchange offer on record. The transactions allow Verizon to take advantage of the current low interest rates and low borrowing costs while also extending and spreading out the maturity of its debt.

In the first transaction, Verizon accepted for exchange a total of £554.2 million of sterling denominated existing debt securities and issued a total of £694.8 million in new debt securities. The dealer managers were led by Credit Suisse Securities (Europe).

Paul Denaro

Paul Denaro

In the second transaction, Verizon completed the largest debt exchange offer on record by accepting for exchange a combined total of $10.9 billion across 11 series of existing debt securities and issued a total of $13.3 billion in new debt securities. The dealer managers were led by Citigroup Global Markets, J.P. Morgan Securities and UBS Securities.

Milbank’s deal team was led by Global Securities partners Paul Denaro and Stuart Morrissy. Milbank has also represented the underwriters in Verizon’s $49 billion bond sale, the largest corporate debt offering on record, to fund the company’s purchase of Vodafone Group PLC’s interest in Verizon Wireless.

Also working on the transactions were London-based Alternative Investments partner James Warbey and New York-based Tax partner Andrew Walker, along with New York-based Global Securities associates Sam Badawi, John Ablan and Max Weiss and Tax associate Erika Hauser.
“We are proud to have advised such a distinguished group of financial institutions and created innovative pricing structures for exchange offers of an unprecedented size.” Mr. Denaro said.

Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post