Windstream to offer $250 million new secured notes in connection with exchange offer

By Paul A. Harris

Portland, Ore., Oct. 19 – Windstream Holdings, Inc. plans to offer $250 million of new Rule 144A and Regulation S senior secured notes in conjunction with exchange offers and a consent solicitation announced in a Wednesday press release.

The Little Rock-based telecom also plans to use proceeds from the new notes to pay down its revolving credit facility.

News of the new notes came with the company’s announcement that it commenced a debt exchange and consent solicitation.

The exchange involves Windstream's 7½% senior notes due 2022, 7½% senior notes due 2023, 7¾% senior notes due 2021 and 7¾% senior notes due 2020.

The offers expire on Nov. 14.

The company also announced it is seeking consents from noteholders to waive certain alleged defaults with respect to transactions related to the spinoff of Uniti Group, Inc.

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