US ISP and telco Windstream will offer US$500m notes before the end of the month to fund a buyback of 2019 paper.
The new senior unsecured notes are set to be sold in a private placement and will carry a coupon of 7.75% until their maturity date in…
US ISP and telco Windstream will offer US$500m notes before the end of the month to fund a buyback of 2019 paper.
The new senior unsecured notes are set to be sold in a private placement and will carry a coupon of 7.75% until their maturity date in 2021.
Proceeds will be used to purchase Windstream’s US$500m outstanding 7% senior notes due 2019.
Goldman Sachs is the lead dealer manager and solicitation agent on the redemption, while BNP Paribas, Citigroup, JP Morgan, RBC Capital Markets, and RBS are serving as co-dealer managers.
The Little Rock, Arkansas-based rural operator may also use cash to fund the buyback if required.
It last visited the debt markets in January when it sold US$700m of 10-year senior unsecured notes to fund a separate redemption.
Nasdaq-listed Windstream offers triple-play services to rural customers in the US and network communications to businesses.
