NORWALK, Conn.--(BUSINESS WIRE)--
Frontier Communications Corporation (NASDAQ:FTR) today announced that it
has extended until June 2, 2016 at 5:00 p.m., New York City time, the
expiration date of its offer to exchange the following:
-
an aggregate principal amount of up to $1,000,000,000 of its 8.875%
Senior Notes due 2020, which have been registered under the Securities
Act of 1933, as amended (the “Securities Act”), for a like principal
amount at maturity of Frontier’s issued and outstanding 8.875% Senior
Notes due 2020 (the “Old 2020 Notes”) from the registered holders
thereof,
-
an aggregate principal amount of up to $2,000,000,000 of its 10.500%
Senior Notes due 2022 which have been registered under the Securities
Act, for a like principal amount at maturity of Frontier’s issued and
outstanding 10.500% Senior Notes due 2022 (the “Old 2022 Notes”) from
the registered holders thereof, and
-
an aggregate principal amount of up to $3,600,000,000 of its 11.000%
Senior Notes due 2025 which have been registered under the Securities
Act, for a like principal amount at maturity of Frontier’s issued and
outstanding 11.000% Senior Notes due 2025 (the “Old 2025 Notes”; the
Old 2020 Notes, the Old 2022 Notes and the Old 2025 Notes are,
collectively, the “Old Notes”) from the registered holders thereof.
The exchange offer had been scheduled to expire at 5:00 p.m., New York
City time, on May 26, 2016. The extension of the exchange offer has been
made to allow holders of outstanding Old Notes who have not yet tendered
their Old Notes for exchange additional time to do so. All other terms,
provisions and conditions of the exchange offer will remain in full
force and effect. As of 5:00 p.m., New York City time, on May 26, 2016,
approximately (i) $998,525,000 in aggregate principal amount of the Old
2020 Notes, (ii) $1,990,865,000 in aggregate principal amount of the Old
2022 Notes and (iii) $3,590,735,000 in aggregate principal amount of the
Old 2025 Notes had been tendered and not withdrawn. Frontier will not
receive any proceeds from the exchange offer.
The terms, provisions and conditions of the exchange offer and other
information relating to Frontier are set forth in the prospectus dated
April 28, 2016. Copies of the prospectus and the related letter of
transmittal may be obtained from The Bank of New York Mellon, which is
serving as the exchange agent for the exchange offer. The Bank of New
York Mellon’s address, telephone and facsimile number are as follows:
The Bank of New York Mellon
Corporate Trust-Reorg
111 Sanders
Creek Parkway
East Syracuse, NY 13057
Telephone: (315) 414-3317
Fax:
(732) 667-9408
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be any
sale of securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. No offering of securities
shall be made except by means of an appropriate prospectus.
About Frontier Communications
Frontier Communications Corporation 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 Edge™ offers communications solutions to
small, medium, and enterprise businesses. Frontier’s approximately
29,800 employees are based entirely in the United States.
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. Particular risks and uncertainties that may impact these
forward-looking statements 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/20160527005334/en/
Frontier Communications Corporation
Investors:
Luke
Szymczak, 203-614-5044
Vice President, Investor Relations
luke.szymczak@ftr.com
or
Media:
Brigid
Smith, 203-614-5042
AVP, Corporate Communications
brigid.smith@ftr.com
Source: Frontier Communications Corporation