Windstream to repay term loan debt with bond proceeds

By Sara Rosenberg

New York, Feb. 12 - Windstream Corp. is planning to repay about $500 million of its term loan debt using proceeds from a proposed $500 million senior notes offering, according to a company news release.

As was previously reported, the company is looking to reprice its term loan B at Libor plus 150 basis points from Libor plus 175 bps.

Windstream is also looking to amend the pre-payment provisions under its credit facility, modify certain covenants to permit the consummation of the previously announced split-off of its directory publishing business and make other specified changes.

JPMorgan is the administrative agent on the deal.

Windstream is a Little Rock, Ark.-based provider of voice, broadband and entertainment services.

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