Frontier increases facility to $1.63 billion, draws $1.55 billion

By Tali Rackner

Norfolk, Va., April 1 – Frontier Communications Corp. exercised its right under its previously disclosed delayed-draw credit agreement to increase the size of the facility to $1,625,000,000 and drew $1.55 billion under that facility, according to an 8-K filed Friday with the Securities and Exchange Commission.

The draw is in connection with the closing of the company’s $10.54 billion acquisition of Verizon Communications, Inc.’s wireline operations providing services to residential, commercial and wholesale customers in California, Texas and Florida.

Frontier Communications is a Stamford, Conn.-based provider of rural telecommunications services.

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