Frontier Communications (FTR) Commences $500M Senior Debt Offering
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Frontier Communications Corporation (Nasdaq: FTR) announced today that it has commenced a registered offering of $500 million aggregate principal amount of senior notes due 2021.
Frontier intends to use the net proceeds from the offering of the Notes to finance its cash tender offer announced today for up to $500 million to repurchase a portion of its outstanding 8.25% Senior Notes due 2014 and 7.875% Senior Notes due 2015. If the tender offer is terminated for any reason, or if any net proceeds otherwise remain following the tender offer, Frontier intends to use the net proceeds for general corporate purposes and for the selective purchase of its outstanding debt.
Frontier intends to use the net proceeds from the offering of the Notes to finance its cash tender offer announced today for up to $500 million to repurchase a portion of its outstanding 8.25% Senior Notes due 2014 and 7.875% Senior Notes due 2015. If the tender offer is terminated for any reason, or if any net proceeds otherwise remain following the tender offer, Frontier intends to use the net proceeds for general corporate purposes and for the selective purchase of its outstanding debt.
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