Windstream gets $250 million super senior term loan, revolver

By Sara Rosenberg

New York, Nov. 23 – Windstream Holdings II LLC closed on a new $250 million super senior incremental term loan and transitioned its existing term loan to SOFR from Libor, according to a news release.

In addition, the company completed a revolving credit facility due 2027 to replace an existing revolver due 2024.

The revolver will have $500 million of capacity through September 2024 and $475 million of capacity through January 2027.

As part of the transactions, the company is paying down its outstanding revolver balance of about $115 million as of Sept. 30.

“The new term loan and revolver extension will enable us to fully fund our public-private partnerships and deliver gigabit broadband to consumers and small businesses in rural areas across our 18-state Kinetic region. These refinancing efforts provide Windstream a clear runway to execute our business plan, with no near-term debt maturities,” said Drew Smith, chief financial officer and treasurer, in the release.

The company’s new balance sheet now reflects no maturities prior to 2027 with net liquidity of about $546 million and a net debt to adjusted EBITDA ratio of 2.4x.

Windstream is a communications and software company.

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