US telco Frontier Communications is offering US$200m in senior notes due 2023 under the same terms as its US$600m notes sold in August.
The add-on carries a coupon of 7.125% and will form a single series of notes voting as one class with the US$600m…
US telco Frontier Communications is offering US$200m in senior notes due 2023 under the same terms as its US$600m notes sold in August.
The add-on carries a coupon of 7.125% and will form a single series of notes voting as one class with the US$600m issued last month, as a result of which Frontier will have a total of US$800m notes maturing in 2023.
The Stamford, Connecticut-based firm said it will use the proceeds of the notes to repurchase or retire its existing indebtedness or for general corporate purposes.
Credit Suisse and JP Morgan are joint book-running managers while the co-managers are Barclays, Citigroup, Deutsche Bank, Morgan Stanley and RBS.
Fitch has rated the offering BB+.
As of 30 June the company and its subsidiaries had US$8.3bn of debt.
Frontier offers triple-play services, predominantly to rural areas and to smaller towns and cities across 27 states.
It reported revenues of US$5.2bn in 2011 and generated US$2.5bn in H1 this year.
