
Per Note | Total | |||||
Public offering price(1) | % | $ | ||||
Underwriting discount | % | $ | ||||
Proceeds, before expenses, to VeriSign, Inc.(1) | % | $ | ||||
(1) | Plus accrued interest, if any, from , 2025. |
J.P. Morgan | BofA Securities | US Bancorp | ||||

Per Note | Total | |||||
Public offering price(1) | % | $ | ||||
Underwriting discount | % | $ | ||||
Proceeds, before expenses, to VeriSign, Inc.(1) | % | $ | ||||
(1) | Plus accrued interest, if any, from , 2025. |
J.P. Morgan | BofA Securities | US Bancorp | ||||
Page | |||
Page | |||
• | attempted security breaches, cyber-attacks, and Distributed Denial of Service (“DDoS”) attacks against our systems and services; |
• | the introduction of undetected or unknown defects in our systems or services; |
• | vulnerabilities in the global routing system; |
• | system interruptions or system failures; |
• | damage to our data centers or our data center systems or resolution systems; |
• | risks arising from our operation of root servers and our performance of the Root Zone Maintainer functions under the Root Zone Maintainer Service Agreement with the Internet Corporation for Assigned Names and Numbers (“ICANN”); |
• | any loss or modification of our right to operate the .com and .net gTLDs; |
• | changes or challenges to the pricing provisions of the .com Registry Agreement; |
• | new or existing governmental laws and regulations in the U.S. or other applicable non-U.S. jurisdictions; |
• | new laws, regulations, directives or ICANN policies that require us to obtain and maintain personal information of registrants; |
• | economic, legal and political risks associated with our international operations; |
• | the impact of unfavorable tax rules and regulations; |
• | risks from the adoption of ICANN’s consensus and temporary policies, technical standards and other processes; |
• | the weakening of or changes to the multi-stakeholder form of internet governance; |
• | the outcome of claims, lawsuits, audits or investigations; |
• | lower economic growth, particularly in China; |
• | our ability to compete in the highly competitive business environment in which we operate; |
• | changes in internet practices and behavior and the adoption of substitute technologies, or the negative impact of wholesale price increases; |
• | our ability to expand our services into developing and emerging economies; |
• | our ability to maintain strong relationships with registrars and their resellers; |
• | our ability to attract, retain and motivate our highly skilled employees; and |
• | our ability to protect and enforce our intellectual property rights. |
• | Distributed Servers: We operate a large number of high-speed servers globally to support localized transaction volume and performance demands. In conjunction with our proprietary software, processes and procedures, this purpose-built global constellation of servers offers rapid failover, global and local load balancing, and threshold monitoring on critical servers. |
• | Networking: We deploy and maintain a redundant and diverse global network, maintain high-speed, redundant connections to numerous internet service providers, and maintain network interconnection relationships globally to ensure that our critical services are readily accessible to end users. |
• | Security and Availability: We incorporate architectural concepts such as protected domains, restricted nodes, and distributed access control in our system architecture. In addition, we employ firewalls and intrusion detection software, endpoint and network detection and response systems as well as proprietary security mechanisms at many points across our infrastructure. We perform continuous internal vulnerability testing and periodic controls audits, and also contract with third-party security organizations to perform periodic penetration tests and security risk assessments on our systems. We have engineered resiliency and diversity into how we host classes of products throughout our set of interconnected sites to reduce the risk of unknown vendor defects and zero-day security vulnerabilities. |
• | Data Integrity: We use several proprietary systemic integrity checks and validations to ensure data correctness when updating and publishing the DNS records for the registries we operate. |
• | rank senior in right of payment to all of our future subordinated indebtedness; |
• | rank equally in right of payment with all of our existing and future senior indebtedness, including our obligations under our Unsecured Credit Facility and our Existing Notes; |
• | be effectively subordinated to any of our future secured debt to the extent of the value of the assets securing such debt; and |
• | be structurally subordinated to all of the existing and future liabilities (including trade payables) of each of our subsidiaries. |
• | liabilities (excluding intercompany liabilities) of $509.0 million (15.1% of our consolidated total liabilities), of which $424.2 million were deferred revenues; |
• | assets (excluding intercompany assets) of $640.0 million (45.5% of our consolidated total assets), of which $418.3 million were cash, cash equivalents and marketable securities primarily held by foreign subsidiaries; and |
• | assets (excluding cash, cash equivalents and marketable securities, and intercompany assets) of $221.7 million (27.5% of our consolidated total assets, excluding cash, cash equivalents and marketable securities). |
As of December 31, 2024 (Unaudited) | ||||||
(in millions) | Actual | As adjusted | ||||
Cash, cash equivalents and marketable securities(1) | $599.9 | $ | ||||
Debt: | ||||||
Unsecured Credit Facility(2) | $— | $— | ||||
2025 Notes(3) | 499.8 | — | ||||
2027 Notes | 548.3 | 548.3 | ||||
2031 Notes | 744.2 | 744.2 | ||||
Notes offered hereby(1)(3) | — | |||||
Total debt(2) | $1,792.3 | $ | ||||
Total stockholders’ deficit | $(1,957.9) | $ | ||||
(1) | As of December 31, 2024, on an as adjusted basis, cash, cash equivalents and marketable securities, and notes offered hereby reflects estimated $ million of discounts and commissions payable to the underwriters and estimated expenses of this offering. As of December 31, 2024, the amount of cash, cash equivalents and marketable securities held by our subsidiaries was $418.3 million. As of December 31, 2024, the amount of our consolidated marketable securities was $393.2 million. |
(2) | After the completion of this offering, we will continue to have the ability to borrow $200.0 million under our Unsecured Credit Facility. We may from time to time request the lenders to agree on a discretionary basis to increase the commitment amount by up to an aggregate of $150.0 million during the term of the Unsecured Credit Facility. |
(3) | We intend to use the net proceeds from this offering, together with, if required, cash on hand, to repay the 2025 Notes upon their maturity on April 1, 2025. See “Use of Proceeds.” |
• | the notes will be senior unsecured obligations of Verisign and will rank equally in right of payment with all other existing and future unsecured and unsubordinated debt obligations of Verisign; |
• | the notes are obligations exclusively of Verisign and are not guaranteed by any of its subsidiaries; |
• | the notes initially will be issued in an aggregate principal amount of $ , and Verisign will have the ability to issue additional notes as described under “—Further Issuances” below; |
• | the notes will accrue interest at a rate of % per year; |
• | interest will accrue on the notes from the most recent interest payment date to or for which interest has been paid or duly provided for (or if no interest has been paid or duly provided for, from the issue date of the notes), payable semiannually in arrears on and of each year, beginning on , 2025; |
• | the notes will mature on , 20 unless redeemed or repurchased prior to that date; |
• | Verisign may redeem the notes, in whole or in part, at any time at its option as described under “—Optional Redemption” below; |
• | Verisign may be required to repurchase the notes in whole or in part at the option of the holders in connection with the occurrence of a “change of control repurchase event” as described under “—Purchase of Notes upon a Change of Control Repurchase Event” below; |
• | the notes will be issued in registered form in denominations of $2,000 and integral multiples of $1,000 in excess thereof; |
• | the notes will be represented by one or more global notes registered in the name of a nominee of DTC, but in certain circumstances may be represented by notes in definitive form (see “Book-Entry; Delivery and Form; Global Notes”); and |
• | the notes will be exchangeable and transferable at the office or agency of Verisign maintained for such purposes (which initially will be the corporate trust office of the trustee). |
• | (1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus basis points less (b) interest accrued to the date of redemption, and; |
• | 100% of the principal amount of the notes to be redeemed. |
(1) | accept for payment all the notes or portions of the notes properly tendered pursuant to its offer; |
(2) | deposit with the paying agent an amount equal to the aggregate purchase price in respect of all the notes or portions of the notes properly tendered; and |
(3) | deliver or cause to be delivered to the trustee the notes properly accepted, together with an officer’s certificate stating the aggregate principal amount of notes being purchased by Verisign. |
(1) | any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the total voting power of the voting stock of the Issuer (or its successor by merger, consolidation or purchase of all or substantially all of its assets), other than a transaction in which (i) the Issuer becomes a wholly owned subsidiary of a holding company and (ii) the direct or indirect holders of the voting stock of such holding company immediately following that transaction are substantially the same as the holders of the voting stock of the Issuer immediately prior to that transaction. |
(2) | the adoption of a plan relating to the liquidation or dissolution of the Issuer; or |
(3) | the merger or consolidation of the Issuer with or into another person or the merger of another person with or into the Issuer, or the sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation, in one or a series of related transactions) of all or substantially all the assets of the Issuer (determined on a consolidated basis) to another person, other than a transaction, (i) in the case of a merger or consolidation transaction, following which holders of securities that represented 100% of the voting stock of the Issuer immediately prior to such transaction (or other securities into which such securities are converted as part of such merger or consolidation transaction) own directly or indirectly at least 50% of the voting power of the voting stock of the surviving person in such merger or consolidation transaction immediately after such transaction. |
• | liens existing on the date of this prospectus supplement; |
• | liens on assets or property of a person at the time it becomes a subsidiary or is merged with, amalgamated with or consolidated into Verisign or a Restricted Subsidiary securing only indebtedness of such person; provided such indebtedness was not incurred in connection with such person or entity becoming a subsidiary or such merger, amalgamation or consolidation and such liens do not extend to any assets other than those of the person becoming a subsidiary (and such person’s subsidiaries, as applicable); |
• | liens existing on assets or property created at the time of, or within 18 months after, the acquisition, purchase, lease, improvement or development of such assets or property to secure all or a portion of the purchase price or lease for, or the costs of improvement or development of, such assets or property; |
• | liens to secure any extension, renewal, refinancing or refunding (or successive extensions, renewals, refinancings or refundings), in whole or in part, of any indebtedness secured by liens referred to above or liens created in connection with any amendment, consent or waiver relating to such indebtedness, so long as such lien is limited to all or part of the property which secured (or after-acquired property which was required to secure) the lien extended, renewed or replaced, the amount of indebtedness secured is not increased (other than by the amount equal to any costs and expenses (including any premiums, fees or penalties) incurred in connection with any extension, renewal, refinancing or refunding); |
• | liens in favor of only Verisign or one or more subsidiaries granted by Verisign or a subsidiary to secure any obligations owed to Verisign or a subsidiary of Verisign; |
• | liens in favor of the trustee granted in accordance with the indenture; |
• | carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or are being contested in good faith; |
• | liens solely on any cash earnest money deposits, escrow arrangements or similar arrangements made by Verisign or any Restricted Subsidiary in connection with any letter of intent or purchase agreement for any acquisition or other transaction permitted hereunder; |
• | liens on cash or securing hedging obligations not entered into for speculative purposes and letters of credit entered into in the ordinary course of business; |
• | liens that are contractual rights of set-off; |
• | pledges and deposits made (i) in the ordinary course of business in compliance with workers’ compensation, unemployment insurance and other social security laws and (ii) in respect of letters of credit, bank guarantees or similar instruments issued for the account of Verisign or any Restricted Subsidiary in the ordinary course of business supporting obligations of the type set forth in clause (i) above; |
• | pledges and deposits made (i) to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business and (ii) in respect of letters of credit, bank guarantees or similar instruments issued for the account of Verisign or any Restricted Subsidiary in the ordinary course of business supporting obligations of the type set forth in clause (i) above; |
• | liens for taxes, assessments or other governmental charges or levies not yet delinquent by more than 30 days or not yet subject to penalties for nonpayment or that are being contested in good faith by appropriate proceedings and for which Verisign or any Restricted Subsidiary, as applicable, has maintained adequate reserves in accordance with GAAP; and |
• | liens otherwise prohibited by this covenant, securing indebtedness which, together with the value of attributable debt incurred in sale and leaseback transactions permitted under “—Limitation on Sale and Leaseback Transactions” below, do not exceed the greater of (i) 10% of Consolidated Total Assets measured at the date of incurrence of any such lien and (ii) $300.0 million. |
• | temporary leases for a term, including renewals at the option of the lessee, of not more than three years; |
• | leases between only Verisign and a subsidiary of Verisign or only between subsidiaries of Verisign; |
• | leases where Verisign applies within 365 days after the sale an amount equal to the greater of the net proceeds of the sale or the attributable debt associated with the property to (i) the retirement of long-term secured indebtedness; or, if Verisign has no long-term secured indebtedness outstanding, long-term indebtedness that is pari passu with the notes, or (ii) the purchase of additional property or assets; and |
• | leases of property executed by the time of, or within 12 months after the latest of, the acquisition, the completion of construction or improvement, or the commencement of commercial operation of the property. |
• | (1) Verisign is the surviving or continuing corporation or transferee or (2) the successor entity, if other than Verisign, is a U.S. corporation, partnership, limited liability company or trust and expressly assumes by supplemental indenture all of Verisign’s obligations under the notes and the indenture; and |
• | immediately after giving effect to the transaction, no event of default (as defined below), and no event that, after notice or lapse of time or both, would become an event of default, has occurred and is continuing. |
(1) | a failure to pay principal of or premium, if any, on any note when due at its stated maturity date, upon optional redemption or otherwise; |
(2) | a failure by Verisign to repurchase notes tendered for repurchase following the occurrence of a change of control repurchase event in conformity with the covenant set forth under “—Purchase of Notes upon a Change of Control Repurchase Event”; |
(3) | a default in the payment of interest on the notes when due, continued for 30 days; |
(4) | certain events of bankruptcy, insolvency or reorganization involving Verisign; |
(5) | a default in the performance, or breach, of Verisign’s obligations under the “—Certain Covenants—Limitation on Consolidation, Merger and Sale of Assets” covenant described above; |
(6) | a default in the performance, or breach, of any other covenant, warranty or agreement in the indenture (other than a default or breach pursuant to clause (5) immediately above or any other covenant or warranty a default in which is elsewhere dealt with in the indenture) for 60 days after a Notice of Default (as defined below) is given to Verisign; and |
(7) | (a) a failure to make any payment at maturity, including any applicable grace period, on any indebtedness of Verisign (other than indebtedness of Verisign owing to any of its subsidiaries) outstanding in an amount in excess of $100.0 million or its foreign currency equivalent at the time and continuance of this failure to pay or (b) a default on any indebtedness of Verisign (other than indebtedness owing to any of its subsidiaries), which default results in the acceleration of such indebtedness in an amount in excess of $100.0 million or its foreign currency equivalent at the time without such indebtedness having been discharged or the acceleration having been cured, waived, rescinded or annulled, in the case of clause (a) or (b) above; provided, however, that if any failure, default or acceleration referred to in clauses 7(a) or (b) ceases or is cured, waived, rescinded or annulled, then the event of default under the indenture will be deemed cured. |
(a) | such holder has previously given to the trustee written notice of a continuing event of default, |
(b) | the registered holders of at least 25% in aggregate principal amount of the notes then outstanding have made written request and offered reasonable indemnity to the trustee to institute such proceeding as trustee, and |
(c) | the trustee shall not have received from the registered holders of a majority in aggregate principal amount of the notes then outstanding a direction inconsistent with such request and shall have failed to institute such proceeding within 60 days. |
• | to evidence the succession of another person to Verisign and the assumption by any such successor of the covenants of Verisign under the indenture and the notes; |
• | to add to the covenants of Verisign for the benefit of holders of the notes or to surrender any right or power conferred upon Verisign; |
• | to add any additional events of default for the benefit of holders of the notes; |
• | to add to or change any of the provisions of the indenture as necessary to permit or facilitate the issuance of notes in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of notes in uncertificated form; |
• | to secure the notes or add guarantees with respect to the notes; |
• | to add or appoint a successor or separate trustee; |
• | to cure any ambiguity, defect or inconsistency, provided that the interests of the holders of the notes are not adversely affected in any material respect; |
• | to supplement any of the provisions of the indenture as necessary to permit or facilitate the defeasance and discharge of any series of notes, provided that the interests of the holders of the notes are not adversely affected in any material respect; |
• | to make any other change that would not adversely affect the holders of the notes; |
• | to make any change necessary to comply with any requirement of the SEC in connection with the qualification of the indenture or any supplemental indenture under the Trust Indenture Act; |
• | to conform the indenture to this Description of Notes; and |
• | to reflect the issuance of additional notes as permitted by the indenture. |
• | make any change to the percentage of principal amount of notes the holders of which must consent to an amendment, modification, supplement or waiver; |
• | reduce the rate of or extend the time of payment for interest on any note; |
• | reduce the principal amount or extend the stated maturity of any note; |
• | reduce the redemption or repurchase price of any note, change the date on which any note is subject to redemption or repurchase or add redemption provisions to the notes; |
• | make any note payable in money other than that stated in the indenture or the note; |
• | impair the right to institute suit for the enforcement of any payment on or with respect to the notes; or |
• | make any change in the ranking or priority of any note that would adversely affect the holder of such note. |
(a) | Verisign irrevocably deposits in trust with the trustee money or U.S. government securities or a combination thereof, which through the payment of interest thereon and principal thereof in accordance with their terms, will provide money in an amount sufficient, in the opinion of a nationally recognized firm of independent public accountants (to the extent such deposit consists of U.S. government securities), to pay principal and interest when due on all the notes being defeased to maturity, |
(b) | no default or event of default with respect to the notes has occurred and is continuing on the date of such deposit, or, with respect to an event of default involving bankruptcy, at any time in the period ending on the 91st day after the date of deposit, |
(c) | in the case of the legal defeasance option, Verisign delivers to the trustee an opinion of counsel stating that: |
(1) | Verisign has received from the Internal Revenue Service a ruling, or |
(2) | since the date of the base indenture there has been a change in the applicable U.S. federal income tax law, to the effect, in either case, that and based thereon such opinion of counsel shall confirm that the holders of the notes will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same time as would have been the case if such defeasance has not occurred, which opinion of counsel must be based upon a ruling of the Internal Revenue Service to the same effect or a change in applicable U.S. federal income tax law or related treasury regulations after the date of the base indenture, |
(d) | in the case of the covenant defeasance option, Verisign delivers to the trustee an opinion of counsel to the effect that the holders of the notes will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such covenant defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such covenant defeasance had not occurred, and |
(e) | Verisign delivers to the trustee an officer’s certificate and an opinion of counsel, each stating that all conditions precedent to the defeasance and discharge of the notes have been complied with as required by the indenture. |
• | an individual who is a citizen or resident of the United States; |
• | a corporation (or other entity treated as a corporation for U.S. federal income tax purposes) created or organized in or under the laws of the United States or any state thereof or the District of Columbia; |
• | an estate the income of which is subject to U.S. federal income taxation regardless of its source; or |
• | a trust if (i) a court within the United States can exercise primary supervision over its administration, and one or more United States persons (within the meaning of Section 7701(a)(30) of the Code) have the authority to control all of the substantial decisions of that trust or (ii) a valid election to be treated as a U.S. person is in effect with respect to such trust. |
• | the non-U.S. holder does not actually or constructively own 10% or more of the total combined voting power of all classes of our stock entitled to vote within the meaning of Section 871(h)(3) of the Code; |
• | the non-U.S. holder is not a bank receiving interest on an extension of credit pursuant to a loan agreement entered into in the ordinary course of its trade or business as described in Section 881(c)(3)(A) of the Code; |
• | the non-U.S. holder is not a “controlled foreign corporation” that is related (actually or constructively) to us through stock ownership within the meaning of Section 881(c)(3)(C) of the Code; and |
• | certain certification requirements relating to the non-U.S. holder’s non-U.S. status are met (generally, by providing a properly completed and duly executed IRS Form W-8EBEN or W-8BEN-E (or suitable successor form)). |
• | the non-U.S. holder is a nonresident alien individual present in the United States for 183 days or more during the taxable year of disposition and certain other conditions are met; or |
• | the gain is effectively connected with the conduct of a U.S. trade or business of the non-U.S. holder (and, if required by an applicable income tax treaty, the gain is attributable to a U.S. permanent establishment or fixed base (in the case of an individual) of the non-U.S. holder). |
Underwriters | Principal amount of notes | ||
J.P. Morgan Securities LLC | $ | ||
BofA Securities, Inc. | |||
U.S. Bancorp Investments, Inc. | |||
Total | $ | ||
Paid by Verisign | |||
Per Note | % | ||
Total | $ | ||
(a) | to any person which is a professional client as defined under the FinSA; |
(b) | to fewer than 500 persons (other than professional clients as defined under the FinSA), subject to obtaining the prior consent of the joint book-running managers for any such offer; or |
(c) | in any other circumstances falling within Article 36 FinSA in connection with Article 44 of the Swiss Financial Services Ordinance, |
• | our 2024 Form 10-K, filed on February 13, 2025; |
• | the portions of the Definitive Proxy Statement on Schedule 14A for the annual meeting of stockholders on May 23, 2024, filed on April 10, 2024, that are incorporated by reference into Part III of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed on February 15, 2024; and |
• | our Current Report on Form 8-K filed on February 13, 2025. |

• | our Annual Report on Form 10-K (File No. 000-23593) for the fiscal year ended December 31, 2024, filed on February 13, 2025; |
• | the portions of the Definitive Proxy Statement on Schedule 14A for the annual meeting of stockholders on May 23, 2024, filed on April 10, 2024, that are incorporated by reference into Part III of our Annual Report on Form 10-K (File No. 000-23593) for the fiscal year ended December 31, 2023; and |
• | our Current Report on Form 8-K (File No. 000-23593) filed on February 13, 2025. |
• | attempted security breaches, cyber-attacks, and Distributed Denial of Service (DDoS) attacks against our systems and services; |
• | the introduction of undetected or unknown defects in our systems or services; |
• | vulnerabilities in the global routing system; |
• | system interruptions or system failures; |
• | damage to our data centers or our data center systems or resolution systems; |
• | risks arising from our operation of root servers and our performance of the Root Zone Maintainer functions under the Root Zone Maintainer Service Agreement with the Internet Corporation for Assigned Names and Numbers (“ICANN”); |
• | any loss or modification of our right to operate the .com and .net gTLDs; |
• | changes or challenges to the pricing provisions of the .com Registry Agreement; |
• | new or existing governmental laws and regulations in the U.S. or other applicable non-U.S. jurisdictions; |
• | new laws, regulations, directives or ICANN policies that require us to obtain and maintain personal information of registrants; |
• | economic, legal and political risks associated with our international operations; |
• | the impact of unfavorable tax rules and regulations; |
• | risks from the adoption of ICANN’s consensus and temporary policies, technical standards and other processes; |
• | the weakening of or changes to the multi-stakeholder form of internet governance; |
• | the outcome of claims, lawsuits, audits or investigations; |
• | lower economic growth, particularly in China; |
• | our ability to compete in the highly competitive business environment in which we operate; |
• | changes in internet practices and behavior and the adoption of substitute technologies, or the negative impact of wholesale price increases; |
• | our ability to expand our services into developing and emerging economies; |
• | our ability to maintain strong relationships with registrars and their resellers; |
• | our ability to attract, retain and motivate our highly skilled employees; and |
• | our ability to protect and enforce our intellectual property rights. |
• | the issue price (expressed as a percentage of the aggregate principal amount of the debt securities) at which the debt securities will be issued; |
• | the title of the series of the debt securities; |
• | the legal ranking of the debt securities and the extent, if any, to which the securities will be subordinated in right of payment to our other debt; |
• | any limit on the aggregate principal amount of the debt securities; |
• | the issue date; |
• | whether the debt securities will be issued in the form of definitive debt securities or global debt securities and, if issued in the form of global debt securities, the identity of the depositary for such global debt security or debt securities; |
• | the date or dates on which we will pay the principal; |
• | the rate or rates at which the debt securities will bear interest or, if applicable, the method used to determine such rate or rates; |
• | the date or dates from which interest will accrue, the date or dates on which interest will commence and be payable and any record date for the interest payable on any interest payment date; |
• | the place or places where principal of and any premium and interest on the debt securities of the series will be payable; |
• | any optional redemption, sinking fund, or change of control put provisions; |
• | any events of default in addition to those provided in the indenture; |
• | any other specific terms, rights or limitations of, or restrictions on, the debt securities, and any terms that may be required or advisable under applicable laws or regulations; and |
• | any covenants relating to us with respect to the debt securities of a particular series if not set forth in the indenture. |
• | (1) Verisign is the surviving or continuing corporation or transferee or (2) the successor entity, if other than Verisign, is a U.S. corporation, partnership, limited liability company or trust and expressly assumes by supplemental indenture all of Verisign’s obligations under the debt securities of all series and the indenture; and |
• | immediately after giving effect to the transaction, no event of default (as defined below), and no event that, after notice or lapse of time or both, would become an event of default, has occurred and is continuing. |
(1) | a failure to pay principal of or premium, if any, on the debt securities of such series when due at its stated maturity date, upon optional redemption or otherwise; |
(2) | a default in the payment of interest on the debt securities of such series when due, continued for 30 days; |
(3) | certain events of bankruptcy, insolvency or reorganization involving Verisign; |
(4) | a default in the performance, or breach, of Verisign’s obligations under the “—Limitation on Consolidation, Merger and Sale of Assets” covenant described above; |
(5) | a default in the performance, or breach, of any other covenant, warranty or agreement in the indenture (other than a default or breach pursuant to clause (4) immediately above or any other covenant or warranty a default in which is elsewhere dealt with in the indenture) for 60 days after a Notice of Default (as defined below) is given to Verisign; and |
(6) | (a) a failure to make any payment at maturity, including any applicable grace period, on any indebtedness of Verisign (other than indebtedness of Verisign owing to any of its subsidiaries) outstanding in an amount in excess of $100.0 million or its foreign currency equivalent at the time and continuance of this failure to pay or (b) a default on any indebtedness of Verisign (other than indebtedness owing to any of its subsidiaries), which default results in the acceleration of such indebtedness in an amount in excess of $100.0 million or its foreign currency equivalent at the time without such indebtedness having been discharged or the acceleration having been cured, waived, rescinded or annulled, in the case of clause (a) or (b) above; provided, however, that if any failure, default or acceleration referred to in clauses 6(a) or (b) ceases or is cured, waived, rescinded or annulled, then the event of default under the indenture will be deemed cured. |
(a) | such holder has previously given to the trustee written notice of a continuing event of default, |
(b) | the registered holders of at least 25% in aggregate principal amount of the debt securities of such series then outstanding have made written request and offered reasonable indemnity to the trustee to institute such proceeding as trustee, and |
(c) | the trustee shall not have received from the registered holders of a majority in aggregate principal amount of the debt securities of such series then outstanding a direction inconsistent with such request and shall have failed to institute such proceeding within 60 days. |
• | to evidence the succession of another person to Verisign and the assumption by any such successor of the covenants of Verisign under the indenture and the debt securities; |
• | to add to the covenants of Verisign for the benefit of holders of the debt securities or to surrender any right or power conferred upon Verisign; |
• | to add any additional events of default for the benefit of holders of the debt securities; |
• | to add to or change any of the provisions of the indenture as necessary to permit or facilitate the issuance of debt securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of debt securities in uncertificated form; |
• | to secure the debt securities or add guarantees with respect to the debt securities of any series; |
• | to add or appoint a successor or separate trustee; |
• | to cure any ambiguity, defect or inconsistency, provided that the interests of the holders of such debt securities are not adversely affected in any material respect; |
• | to supplement any of the provisions of the indenture as necessary to permit or facilitate the defeasance and discharge of any series of debt securities, provided that the interests of the holders of such debt securities are not adversely affected in any material respect; |
• | to make any other change that would not adversely affect the holders of the debt securities of such series; |
• | to make any change necessary to comply with any requirement of the SEC in connection with the qualification of the indenture or any supplemental indenture under the Trust Indenture Act of 1939, as amended; and |
• | to reflect the issuance of additional debt securities of a particular series as permitted by the indenture. |
• | make any change to the percentage of principal amount of debt securities the holders of which must consent to an amendment, modification, supplement or waiver; |
• | reduce the rate of or extend the time of payment for interest on any debt securities; |
• | reduce the principal amount or extend the stated maturity of any debt securities; |
• | reduce the redemption price of any note or add redemption provisions to the debt securities; |
• | make any debt securities payable in money other than that stated in the indenture or the debt securities; |
• | impair the right to institute suit for the enforcement of any payment on or with respect to the debt securities; or |
• | make any change in the ranking or priority of any debt securities that would adversely affect the holder of such debt securities. |
(a) | Verisign irrevocably deposits in trust with the trustee money or U.S. government securities or a combination thereof, which through the payment of interest thereon and principal thereof in accordance with their terms, will provide money in an amount sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay principal and interest when due on all the debt securities being defeased to maturity, |
(b) | no default or event of default with respect to the debt securities of such series has occurred and is continuing on the date of such deposit, or, with respect to an event of default involving bankruptcy, at any time in the period ending on the 91st day after the date of deposit, |
(c) | in the case of the legal defeasance option, Verisign delivers to the trustee an opinion of counsel stating that: |
(1) | Verisign has received from the Internal Revenue Service a ruling, or |
(2) | since the date of the indenture there has been a change in the applicable U.S. federal income tax law, to the effect, in either case, that and based thereon such opinion of counsel shall confirm that the holders of the debt securities of such series will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same time as would have been the case if such defeasance has not occurred, which opinion of counsel must be based upon a ruling of the Internal Revenue Service to the same effect or a change in applicable Federal income tax law or related treasury regulations after the date of the indenture, |
(d) | in the case of the covenant defeasance option, Verisign delivers to the trustee an opinion of counsel to the effect that the holders of the debt securities of such series will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such covenant defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such covenant defeasance had not occurred, and |
(e) | Verisign delivers to the trustee an officer’s certificate and an opinion of counsel, each stating that all conditions precedent to the defeasance and discharge of the debt securities of any series have been complied with as required by the indenture. |