Frontier Announces Fiber Securitization Offering
2024年6月3日 - 9:00PM
ビジネスワイヤ(英語)
Frontier Communications Parent, Inc. (NASDAQ: FYBR) (“Frontier”
or the “Company”) today announced that a limited-purpose,
bankruptcy remote, indirect subsidiary of the Company intends to
offer approximately $750 million aggregate principal amount of
secured fiber network revenue term notes (the “Notes”), with an
anticipated repayment date in May 2031, subject to market
conditions and other factors. The Notes will be secured by certain
of Frontier’s fiber assets and associated customer contracts in
North Texas and will qualify as an offering of green bonds.
Frontier intends to use the net proceeds of the offering to,
among other things, repay certain existing indebtedness of the
Company and its non-securitization subsidiaries, including a
portion of the outstanding principal amount of the Company’s term
loan facility, and for general corporate purposes, including
potential investments or expenditures, such as capital expenditures
and research and development, in line with Frontier’s fiber
expansion and copper migration strategies.
The Notes are being offered and sold in the United States only
to persons reasonably believed to be “qualified institutional
buyers” in reliance on Rule 144A under the Securities Act of 1933,
as amended (the “Securities Act”), or certain accredited investors
within the meaning of Regulation D under the Securities Act, and
outside the United States to certain non-U.S. persons in compliance
with Regulation S under the Securities Act. In addition, the Notes
may be sold in separately negotiated, privately placed transactions
exempt from registration in accordance with Section 4(a)(2) of the
Securities Act. The offer and sale of the Notes have not and will
not be registered under the Securities Act or the securities laws
of any other jurisdiction and may not be offered or sold in the
United States absent registration or an applicable exemption from
registration requirements.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy, the Notes or any other securities,
and shall not constitute an offer to sell, solicitation of an offer
to buy, or sale of any securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful. Any offers of the
Notes will be made only by means of a private offering
memorandum.
Forward-Looking Statements
This release contains “forward-looking statements” related to
future events. Forward-looking statements address the Company’s
expectations or beliefs concerning future events, including,
without limitation, the expected terms, timing and size of the
offering, the expected collateral of the Notes, the use of proceeds
of the offering, the qualification of the Notes as green bonds and
other matters. These statements are based on management’s views and
assumptions, as of the date of this release, regarding future
events and performance. Forward-looking statements by their nature
address matters that are, to different degrees, uncertain. A wide
range of factors could materially affect future developments and
performance, including but not limited to, uncertainties related to
market conditions, changes to the terms and timing of the offering,
the Company’s ability to satisfy the closing conditions related to
the offering and other factors set forth in the Company’s other
filings with the U.S. Securities and Exchange Commission (the
“SEC”). This list of factors that may affect future performance and
the accuracy of forward-looking statements is illustrative and is
not intended to be exhaustive. You should consider these important
factors, as well as the risks and other factors contained in the
Company’s filings with the SEC, including the Company’s most recent
Annual Report on Form 10-K and Quarterly Report on Form 10-Q and
subsequent SEC filings. The Company does not intend, nor does it
undertake any duty, to update any forward-looking statements,
except as required by law.
About Frontier
Frontier (NASDAQ: FYBR) is the largest pure-play fiber provider
in the U.S. Driven by our purpose, Building Gigabit America®, we
deliver blazing-fast broadband connectivity that unlocks the
potential of millions of consumers and businesses.
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version on businesswire.com: https://www.businesswire.com/news/home/20240603701119/en/
Investor Spencer Kurn SVP, Investor Relations +1
401-225-0475 spencer.kurn@ftr.com
Media Chrissy Murray VP, Corporate Communications +1
504-952-4225 chrissy.murray@ftr.com
Frontier Communications ... (NASDAQ:FYBR)
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