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May 04, 2015 10:32 PM ET

Wireless Telecommunication Services

Company Overview of ALLTEL Communications, LLC

Company Overview

Alltel Communications, LLC provides wireless and wireline telecommunication services. The company was incorporated in 1995 and is based in Little Rock, Arkansas. Alltel Communications, LLC operates as a subsidiary of Verizon Wireless Inc.

One Allied Drive

B2f02-A

Little Rock, AR 72202

United States

Founded in 1995

Phone:

501-905-8000

Fax:

501-905-0962

Key Executives for ALLTEL Communications, LLC

President
Age: 65
Executive Vice President and Chief Financial Officer
Age: 45
Senior Vice-President
Compensation as of Fiscal Year 2014.

ALLTEL Communications, LLC Key Developments

Peter Rosenow Files a Class Action Complaint Against Alltel Corp. and Alltel Communications Inc

Peter Rosenow filed a class action complaint against Alltel Corp. and Alltel Communications Inc. (collectively, Alltel), alleging Alltel imposed an early termination fee on Rosenow and other cellular phone customers in violation of the Arkansas Deceptive Trade Practices Act. Alltel moved to compel arbitration. The trial court denied the motion, holding that the arbitration agreement lacked mutuality. Under Arkansas law, mutuality requires that the terms of an agreement impose liability upon both parties. The arbitration agreement at issue provided in part that if Alltel did not enforce any right or remedy available under the agreement, that failure was not a waiver. The supreme court agreed with the trial court's determination that the arbitration agreement imposed no real liability upon Alltel. Alltel and customers were bound by the arbitration agreement but Alltel clearly reserved their right to pursue remedies other than arbitration without consequence. The reservation was limited solely to Alltel. Rosenow and other customers had to submit any disputes to arbitration. In determining whether parties agreed to arbitrate a certain matter, courts should apply ordinary state law principles that govern the formation of contracts. The supreme court noted that if it did not consider mutuality, the court would be impermissibly placing arbitration provisions on unequal footing with other contract provisions. The supreme court concluded that the arbitration agreement treated Alltel and customers differently. The disparate treatment resulted in a lack of mutuality. Accordingly, Rosenow was not obligated to arbitrate his dispute.

Verizon and Alltel Announce Expiration and Final Results of Exchange Offers

Verizon Communications Inc. announced the expiration and final results of its previously announced eleven separate private offers to exchange specified series of debt securities issued by Verizon and by Alltel Corporation (an indirect wholly owned subsidiary of Verizon) (collectively, the "Old Notes") for new debt securities to be issued by Verizon (the "New Notes") in accordance with the terms of the Exchange Offers. The Exchange Offers consist of the following: (i) an offer to exchange the 2.500% notes due 2016 of Verizon; and (ii) an offer to exchange the 3.650% notes due 2018 of Verizon, in each case, for new 2.625% notes due 2020 of Verizon, provided that the principal amount of New Notes due 2020 to be issued in such Exchange Offers on an aggregate basis shall not exceed $3,300,000,000; (i) an offer to exchange the 7.350% notes due 2039 of Verizon; (ii) an offer to exchange the 7.875% debentures due 2032 of Alltel Corporation; (iii) an offer to exchange the 7.750% notes due 2032 of Verizon; (iv) an offer to exchange the 7.750% notes due 2030 of Verizon; (v) an offer to exchange the 6.800% debentures due 2029 of Alltel Corporation; and (vi) an offer to exchange the 6.400% notes due 2033 of Verizon, in each case, for new 4.862% notes due 2046 of Verizon, provided that the principal amount of New Notes due 2046 to be issued in such Exchange Offers on an aggregate basis shall not exceed $4,500,000,000; and (i) an offer to exchange the 6.550% notes due 2043 of Verizon; (ii) an offer to exchange the 6.900% notes due 2038 of Verizon; and (iii) an offer to exchange the 6.400% notes due 2038 of Verizon, in each case, for new 5.012% notes due 2054 of Verizon, provided that the principal amount of New Notes due 2054 to be issued in such Exchange Offers on an aggregate basis shall not exceed $5,500,000,000. The Exchange Offers were conducted by Verizon upon the terms and subject to the conditions set forth in a confidential offering memorandum, dated July 23, 2014, as amended by the press release issued by Verizon on August 6, 2014. Based on information provided by Global Bondholder Services Corporation, the exchange agent and information agent for the Exchange Offers, the tables below provide the aggregate principal amount of each series of Old Notes validly tendered and not validly withdrawn at or prior to the Expiration Date for the Exchange Offers and the aggregate principal amount of each series of Old Notes that Verizon expects to accept pursuant to the Exchange Offers.

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