Issuer: | VeriSign, Inc. |
Security: | 2.700% Senior Notes due 2031 |
Anticipated Ratings (Moody’s/S&P)*: | Baa3 / BBB |
Principal Amount: | $750,000,000 |
Maturity Date: | June 15, 2031 |
Interest Rate: | 2.700% |
Interest Payment Dates: | June 15 and December 15, commencing December 15, 2021 |
Public Offering Price: | 99.712% of principal amount |
Yield to Maturity: | 2.733% |
Spread to Benchmark Treasury: | +112.5 bps |
Benchmark Treasury: | UST 1.625% due May 15, 2031 |
Make-Whole Call: | T+20 bps prior to March 15, 2031 |
Par Call: | On or after March 15, 2031 |
Change of Control Repurchase Event: | Put @ 101% of principal plus accrued and unpaid interest |
Trade Date: | May 24, 2021 |
Settlement Date: | T+10; June 8, 2021 We expect that delivery of the notes will be made against payment therefor on or about June 8, 2021, which is the tenth business day following the date of pricing of the notes (such settlement cycle being referred to as “T+10”). Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes prior to two business days before settlement will be required to specify an alternative settlement cycle at the time of any such trade to prevent failed settlement and should consult their own advisors. |
Denominations/Multiple: | $2,000 x $1,000 |
CUSIP / ISIN: | 92343E AM4 / US92343EAM49 |
Joint Book-Running Managers: | J.P. Morgan Securities LLC BofA Securities, Inc. U.S. Bancorp Investments, Inc. |
Use of Proceeds: | The Issuer intends to use the net proceeds, together with cash on hand, to fund the redemption of all of its 2023 Notes. |
