Frontier Communications prices USD 1.650bn secured notes offering.

INTERNET BUSINESS NEWS-(C)1995-2019 M2 COMMUNICATIONS

Frontier Communications Corporation (NASDAQ:FTR) has announced that it has priced its previously announced private offering of USD 1.650 billion aggregate principal amount of First Lien Secured Notes due 2027, the company said.

The First Lien Secured Notes will bear interest at 8.000% per year and will be sold at a price equal to 100% of the principal thereof. The settlement of the First Lien Secured Notes is expected to occur on or about March 15, 2019, subject to customary closing conditions.

Frontier intends to use the proceeds from the offering to repay all outstanding indebtedness under its senior secured term loan A facility, which matures in March 2021, and its credit agreement with CoBank ACB, which matures in October 2021, and to pay related fees and expenses.

Frontier...

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