US telco Windstream announced yesterday that its public tender offer for US$1.1bn of its 8.625% senior notes due in 2016 has expired.
The offer expired at midnight on 29 March, by which time Windstream had received tenders worth US$1,036bn of the…
US telco Windstream announced yesterday that its public tender offer for US$1.1bn of its 8.625% senior notes due in 2016 has expired.
The offer expired at midnight on 29 March, by which time Windstream had received tenders worth US$1,036bn of the notes.
Windstream said that it had accepted for payment and paid for all of the validly tendered notes yesterday.
The tender offer was arranged by Citigroup and Wells Fargo. The US Bank National Association acted as the depositary and Global Bondholder Services Corp acted as the information agent.
A Windstream spokesperson told TelecomFinance that the company was conducting this tender offer “so we could opportunistically refinance a large portion of the 2016 notes”.
Windstream also announced on Monday that it had completed its sale of US$450m in 7.75% senior notes due in 2021.
This follows another private placement of US$600m in 7.75% senior notes due in 2023.
Windstream said that it would be using the proceeds of these two private placements, as well as its revolving line of credit and cash in hand, to pay the consideration for its US$1.1bn public tender offer.
