Frontier Communications repurchases $154.7 million of two note series

By Tali David

Minneapolis, Nov. 8 - Frontier Communications Corp. accepted for purchase $75.7 million of its April 2015 notes and $59.3 million of its 8.25% senior notes due 2017 in open market repurchases, according to a 10-Q filed with the Securities and Exchange Commission.

The total consideration is $154.7 million.

Frontier said the repurchases resulted in a loss on the early retirement of debt of about $19.3 million to be recognized in the fourth quarter of 2012.

As of Oct. 31, roughly $374.8 million aggregate principal amount of the April 2015 Notes and $1,040,700,000 the 2017 notes remained outstanding.

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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