Verizon Communications in $2 Billion Securitization Transaction

Cleary Gottlieb represented Verizon Communications and its affiliates in the establishment of a receivables sale platform and an initial sale of $2 billion of wireless equipment installment receivables to The Bank of Tokyo Mitsubishi UFJ, Royal Bank of Canada and Mizuho Bank, and their asset-backed commercial paper conduits. The transaction closed on March 27, 2015.