Frontier Communications Announces $1.6 Billion Second Lien Secured Notes Offering
March 07 2018 - 12:48PM
Business Wire
Frontier Communications Corporation (NASDAQ:FTR) announced today
that it intends to offer, in a private transaction, $1.6 billion
aggregate principal amount of Second Lien Secured Notes due
2026.
Frontier intends to use the proceeds from the offering to
finance the cash consideration payable in connection with its
previously announced offers to purchase for cash certain of its
senior notes maturing in 2020, 2021, 2022 and 2023 and to pay
related fees and expenses. Each of the tender offers will expire at
11:59 PM, New York City time on April 2, 2018, unless extended or
earlier terminated by the Company in accordance with the terms of
the Company’s Offer to Purchase and Consent Solicitation Statement,
dated March 6, 2018 (the “Offer to Purchase”).
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 sales of securities mentioned in this press release in any
jurisdiction in which such offer, solicitation or sale would be
unlawful. Any offers of the Second Lien Secured Notes will be made
only by means of a private offering memorandum to qualified
institutional buyers under Rule 144A under the Securities Act of
1933, as amended (the "Securities Act") and to persons outside of
the United States under Regulation S under the Securities Act.
The Second Lien Secured Notes have not been registered under the
Securities Act or the securities laws of any other jurisdiction and
may not be offered or sold in the United States absent registration
or an applicable exemption from registration requirements.
About Frontier Communications
Frontier Communications Corporation (NASDAQ: FTR) is a
leader in providing communications services to urban, suburban, and
rural communities in 29 states. Frontier offers a variety
of services to residential customers over its fiber-optic and
copper networks, including video, high-speed internet, advanced
voice, and Frontier Secure® digital protection solutions.
Frontier Business offers communications solutions to small, medium,
and enterprise businesses.
Forward-Looking Statements
This document contains "forward-looking statements," related to
future, not past, events. Forward-looking statements address our
expected future business and financial performance and financial
condition, and contain words such as "expect," "anticipate,"
"intend," "plan," "believe," "seek," "see," "will," "would," or
"target." Forward-looking statements by their nature address
matters that are, to different degrees, uncertain. These risks and
uncertainties include, but are not limited to: the success of
Frontier's tender offers and consent solicitation under the Offer
to Purchase, including the willingness of noteholders to tender
their notes at the price and on the terms and conditions proposed
by Frontier in the Offer to Purchase and their willingness to
deliver consents in the consent solicitation; and the other factors
that are described in our filings with the U.S. Securities and
Exchange Commission, including our reports on Forms 10-K and 10-Q.
These risks and uncertainties may cause our actual future results
to be materially different than those expressed in our
forward-looking statements. We do not undertake to update or revise
these forward-looking statements.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180307006066/en/
Frontier Communications CorporationInvestors:Luke
Szymczak, 203-614-5044Vice President, Investor
Relationsluke.szymczak@ftr.comorMedia:Brigid Smith,
203-614-5042AVP, Corporate Communicationsbrigid.smith@ftr.com
Frontier Communications (NASDAQ:FTR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Frontier Communications (NASDAQ:FTR)
Historical Stock Chart
From Sep 2023 to Sep 2024