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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
Date of Report: December 22, 1997
Exact name of registrant
as specified in its charter: BELL ATLANTIC CORPORATION
Commission File Number: 1-8606
State of Incorporation: Delaware
I.R.S. Employer Identification No.: 23-2259884
Address of principal
executive offices: 1095 Avenue of the Americas
New York, New York
Zip Code 10036
Registrant's telephone number,
including area code: (212) 395-2121
Former name or former address,
if changed since last report: Not applicable
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Item 5. Other Information
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Attached as an exhibit is a press release issued by Bell Atlantic Corporation on
December 22, 1997 announcing plans to issue exchangeable notes for general
corporate purposes.
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Item 7. Financial Statements and Exhibits
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(c) Exhibits.
99 Press Release, dated December 22, 1997, issued by Bell Atlantic
Corporation.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BELL ATLANTIC CORPORATION
By: /s/ Ellen C. Wolf
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Ellen C. Wolf
Vice President - Treasurer
Date: December 22, 1997
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Exhibit 99
FOR IMMEDIATE RELEASE Contact:
December 22, 1997 James Crosson
212-395-2285
[email protected]
Bell Atlantic Plans to Issue
Exchangeable Notes
NEW YORK -- Bell Atlantic (NYSE:BEL) announced today that it plans to issue
approximately $2.6 billion in exchangeable notes for general corporate purposes.
The notes will have a medium-term maturity of five to seven years and will be
exchangeable into shares of Telecom Corporation of New Zealand (TCNZ), with the
exchange price established at a premium to the TCNZ share price at the time of
the offering.
The notes will be non-callable for a period of at least three years, and will
not be exchangeable by investors for an initial period of 18 months. Upon
exchange by investors, Bell Atlantic will retain the option to settle in cash or
by delivery of shares.
Proceeds from the offering will be used to enhance Bell Atlantic's balance sheet
as the company pursues growth opportunities in its regional landline, global
wireless and international businesses.
Bell Atlantic owns 24.95 percent of TCNZ, or about 437.2 million ordinary
shares. It is anticipated that the amount of debt issued will be supported by
these current shareholdings.
The timetable for the issue may be subject to market activities and approvals of
parties other than Bell Atlantic. Bell Atlantic will coordinate its activities
with TCNZ management.
Bell Atlantic has not yet determined whether to register the notes under the
Securities Act of 1933. The notes may not be offered or sold in the United
States without registration or an applicable exemption.
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The new Bell Atlantic - formed through the merger of Bell Atlantic and
NYNEX - is at the forefront of the new communications, information and
entertainment industry. With 40 million telephone access lines and 5.8 million
wireless customers worldwide, Bell Atlantic companies are premier providers of
advanced wireline voice and data services, market leaders in wireless services
and the world's largest publishers of directory information. Bell Atlantic
companies are also among the world's largest investors in high-growth global
communications markets, with operations and investments in 21 countries.
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INTERNET USERS: Bell Atlantic news releases, executive speeches, news media
contacts and other useful information are available at Bell Atlantic's News
Center on the World Wide Web (http://www.ba.com). To receive news releases by
e-mail, visit the News Center and register for personalized automatic delivery
of Bell Atlantic news releases.
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