Frontier Communications gets $190 million letter-of-credit facility

By Sara Rosenberg

New York, Sept. 14 - Frontier Communications Corp. closed on a new $190 million unsecured letter-of-credit facility due Sept. 20, 2011, according to an 8-K filed with the Securities and Exchange Commission.

Deutsche Bank is the administrative agent on the deal that was completed on Sept. 8.

There is an option to extend up to $100 million of the commitments to Sept. 20, 2012.

The facility is being used to satisfy certain of the company's capital investment commitments in West Virginia in connection with its July 1, 2010 acquisition of wireline operations from Verizon Communications.

Frontier Communications is a Stamford, Conn.-based provider of regulated and unregulated voice, data, and video services to residential, business and wholesale customers.

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