Windstream plans to increase $600 million 8 5/8% notes tender offer

By Melissa Kory

Cleveland, March 14 - Windstream Corp. announced that it intends to increase the maximum amount of 8 5/8% senior notes due 2016 that it is seeking to purchase in its previously announced tender offer using proceeds from its planned offering of $500 million of fixed-rate senior notes due 2021.

Windstream began the cash tender offer to purchase up to $600 million of its $1,746,000,000 of 8 5/8% notes on March 2. The offer is expected to expire at midnight ET on March 29.

The company will pay $1,035 for each $1,000 principal amount of notes, which includes an early tender fee of $30 for each note tendered by the early tender deadline of 5 p.m. ET on March 11.

Other funds for the tender will come from borrowings under its revolving credit facility and its $600 million of 7½% senior notes due 2023.

Citigroup Global Markets Inc. (800 558-3745 or collect at 212 723-6106) and Wells Fargo Securities, LLC (866 309-6316 or collect at 704 715-8341) are the dealer managers for the tender offer. U.S. Bank NA is the depositary, and Global Bondholder Services Corp. (866 389-1500 or 212 430-3774) is the information agent.

Windstream is a Little Rock, Ark.-based communications and technology solutions provider.

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