Frontier Communications seeks to amend secured first-lien revolver

Chicago, March 1 – Frontier Communications Holdings, LLC is starting to work with its financing sources to amend its senior secured first-lien revolving credit facility, according to information provided in an 8-K filing with the Securities and Exchange Commission.

The company expects to close the amendment when its offering of notes, priced on Wednesday, settles.

Frontier is looking to extend the maturity date on commitments from certain revolving lenders (and amend the springing maturity provisions), increase the maximum first-lien leverage ratio and provide for certain amendments to debt incurrence and other restrictive covenants.

Specifically, the company plans to increase the maximum first-lien leverage ratio to 3.5x with step-downs to 3.25x in 2026, 3x in 2027 and continuing thereafter.

Conditionally, the revolver and the notes are unrelated.

Frontier is a Norwalk, Conn.-based telecom.

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