Verizon Communications in $1.9 Billion Securitization Transaction

Cleary Gottlieb represented Verizon Communications and its affiliates in a follow-on sale of $1.9 billion of wireless equipment installment receivables to a variety of banks and their asset-backed commercial paper conduits. The Bank of Tokyo Mitsubishi UFJ, LTD, New York Branch acted as administrative agent for the purchasers. The transaction closed on June 26, 2015.