NORWALK, Conn.--(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 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