Frontier Communications Extends Exchange Offer for Senior Notes
OREANDA-NEWS. 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Old 2022 Notes and (iii) $3,590,735,000 in aggregate principal amount of the Old 2025 Notes had been tendered and not withdrawn.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.
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