Windstream Announces Extension of Consent Solicitations
November 17 2017 - 9:15AM
Windstream Holdings, Inc. (NASDAQ:WIN) announced today the
extension of the previously announced consent solicitations of
Windstream Services, LLC (the “Company”) with respect to certain of
the Company’s outstanding senior notes (the “Notes”).
The Company is extending the expiration date for its consent
solicitations with respect to its (i) existing 7.75% senior notes
due 2021 (the "2021 Notes") and (ii) 7.50% senior notes due 2022
(the "2022 Notes") (together, the "Consent Solicitations"). The
expiration date for the Consent Solicitations has been extended
to 11:59 p.m., New York City time, on November
27, 2017.
The Company launched the Consent Solicitations
on October 18, 2017, seeking consents from holders of each
series of Notes to waive certain alleged defaults with respect to
transactions related to the spin-off of Uniti Group, Inc. (the
"Spin-Off") and to amend the indentures governing these Notes to
give effect to such waivers and amendments.
The Consent Solicitations require consents from
holders representing a majority of the outstanding aggregate
principal amount of an applicable series of Notes in order for such
waivers and amendments to become effective with respect to such
series of Notes. The Company denies that any alleged default has
occurred and is seeking a judicial declaration that there has been
no default in connection with the Spin-Off and related
transactions.
Global Bondholder Services Corporation is acting as
the Information and Tabulation Agent for the Consent Solicitations.
Questions or requests for assistance related to the Consent
Solicitations, including requests for additional copies of the
consent solicitation statements and letter of consent, if
applicable, related to the Consent Solicitations (collectively, the
"Offering Documents") may be directed to Global Bondholder
Services Corporation at (866) 807-2200 (toll free) or (212)
430-3774 (collect). You may also contact your broker, dealer,
commercial bank, trust company or other nominee for assistance
concerning the Consent Solicitations.
Holders are advised to check with any bank,
securities broker or other intermediary through which they
hold any of the notes as to when such intermediary needs to receive
instructions from a holder in order for that holder to be able
to participate in, or (in the circumstances in which
revocation is permitted) revoke their instruction to participate
in, the Consent Solicitations before the deadlines specified herein
and in the Offering Documents.
None of the Company, its board of directors, its officers, the
information and tabulation agent or the trustee with respect to the
outstanding notes, or any of the Company's or their respective
affiliates, makes any recommendation that holders deliver consents
pursuant to the Consent Solicitations, and no one has been
authorized by any of them to make such a recommendation. Holders
must make their own decision as to whether to participate.
This press release is for informational purposes only. The
Consent Solicitations are being made solely pursuant to the consent
solicitation statements and related letter of consent, if
applicable. The Consent Solicitations are not being made to holders
of notes in any jurisdiction in which the making or acceptance
thereof would not be in compliance with the securities, blue sky or
other laws of such jurisdiction.
This press release shall not constitute an offer to sell
or the solicitation of an offer to buy any securities, nor shall
there be any offer, solicitation or sale of any securities in any
state or other jurisdiction in which such an offer, solicitation or
sale would be unlawful.
About Windstream
Windstream Holdings, Inc. (NASDAQ:WIN), a FORTUNE 500 company,
is a leading provider of advanced network communications and
technology solutions for consumers, small businesses, enterprise
organizations and carrier partners across the U.S. The Company
offers bundled services, including broadband, security solutions,
voice and digital TV to consumers. Windstream also provides data,
cloud solutions, unified communications and managed services to
business and enterprise clients. The Company supplies core
transport solutions on a local and long-haul fiber-optic network
spanning approximately 150,000 miles.
All references to “Windstream” as used throughout this document
refer to Windstream Holdings, Inc. and its subsidiaries, including
the Issuers.
Forward-Looking Statements
Certain statements contained in this press release may
constitute forward-looking statements. Forward-looking statements
are subject to uncertainties that could cause actual future events
and results to differ materially from those expressed in the
forward-looking statements. These forward-looking statements,
including with respect to the Company’s ability to complete
the Consent Solicitations, as described in this press release, are
based on estimates, projections, beliefs, and assumptions
that Windstream believes are reasonable but are not
guarantees of future events and results. Actual future events and
results of Windstream may differ materially from those
expressed in these forward-looking statements as a result of a
number of important factors, including those described in filings
by Windstream with the Securities and Exchange
Commission, which can be found at www.sec.gov.
Media Contact:
David Avery,
501-748-5876david.avery@windstream.com
Investor Contact:Chris King,
704-319-1025christopher.c.king@windstream.com