Windstream selling $700 million 10.5-year senior notes Tuesday

By Paul A. Harris and Aleesia Forni

Columbus, Ohio, Jan. 8 - Windstream Corp. is planning to hit the market on Tuesday with a $700 million issue of senior notes due Aug. 1, 2023 (expected ratings Ba3/B), a market source said.

An investor call was scheduled for 11:30 a.m. ET.

Wells Fargo Securities LLC is the left bookrunner.

Barclays, Bank of America Merrill Lynch, Deutsche Bank Securities Inc., Goldman Sachs & Co., Mitsubishi UFJ Securities (USA) Inc., Morgan Stanley & Co. LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunners.

The Rule 144A and Regulation S with registration rights notes will be non-callable for five years.

Proceeds will be used to pay the consideration in connection with the company's tender offer, including any accrued and unpaid interest on the Paetec 8 7/8% notes.

Windstream is a Little Rock, Ark.-based telecommunications company.

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