Verizon Communications (VZ)

Redemption of Debt

During the second quarter of 2008, $100 million of Verizon California Inc. 7.0% notes and $250 million of Verizon New York Inc. 6.0% notes matured and were repaid. Additionally, during the second quarter of 2008, $250 million of GTE Corporation 6.46% notes matured and were repaid. During the first quarter of 2008, $125 million of Verizon South Inc. 6.0% notes and $1,000 million of Verizon Communications Inc. 4.0% notes matured and were repaid.

Redemption of Debt

During the second quarter of 2008, $100 million of Verizon California Inc. 7.0% notes and $250 million of Verizon New York Inc. 6.0% notes matured and were repaid. During the first quarter of 2008, $125 million of Verizon South Inc. 6.0% notes and $1,000 million of Verizon Communications Inc. 4.0% notes matured and were repaid. During the second quarter of 2008, $250 million of GTE Corporation 6.46% notes matured and were repaid.

Redemption of Debt

On February 15, 2008, $125 million Verizon South Inc. 6.0% notes matured and were repaid. On January 15, 2008, $1,000 million Verizon Communications Inc. 4.0% notes matured and were repaid.

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Redemption of Debt

Previously, Verizon issued $1,750 million in principal amount at maturity of floating rate notes due August 15, 2007, which were called by Verizon on January 8, 2007. On January 8, 2007, we redeemed the remaining $1,580 million principal of the outstanding floating rate notes at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest through the date of redemption. The total payment on the date of redemption was approximately $1,593 million.

During the nine months ended September 30, 2007, the $125 million Verizon New England Inc. 7.65% notes, the $225 million Verizon South Inc. 6.125% notes and the $150 million Verizon Pennsylvania Inc. 7.375% notes matured and were repaid. In addition, during the first quarter of 2007, the $150 million GTE Southwest Inc. 6.23% notes and the $275 million Verizon California Inc. 7.65% notes matured and were repaid. We also redeemed the $500 million of GTE Corporation 7.90% debentures due February 1, 2027 and the $300 million Verizon South Inc. 7.0% debentures, Series F, due 2041 at various redemption prices plus accrued and unpaid interest to the redemption dates. We recorded pretax charges of $28 million ($18 million after-tax) in connection with the early extinguishments of this debt.