| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers W > Headlines for Windstream Corp. > News item |
Windstream gets tenders for 86.2% of 7% notes so far, amends indenture
By Angela McDaniels
Tacoma, Wash., Aug. 26 - Windstream Corp. received enough consents to amend the indenture governing its $500 million of 7% senior notes due 2019, according to a company news release.
A tender offer and consent solicitation for the notes began Aug. 12. The early tender deadline was 5 p.m. ET on Aug. 23.
The company is soliciting consents to amend the indenture to eliminate substantially all of the restrictive covenants and some other provisions. Consents were needed from the holders of a majority of the notes.
As of the early tender deadline, holders had tendered $430,963,000 principal amount, or 86.2%, of the notes.
The amendments are now effective.
The company also executed its option to accept for payment the notes that were tendered by the early tender deadline. It paid $1,027.83 per $1,000 principal amount of notes, which includes a $25.00 consent payment, and accrued interest through the settlement date, which was Aug. 26.
The offer will remain open until 11:59 p.m. ET on Sept. 9.
The company will pay $1,002.83 plus accrued interest for notes tendered after the early tender date but prior to the offer expiration.
In addition, the company plans to call for redemption any notes that are not tendered in the offer at 102.333% of par plus accrued interest.
The lead dealer manager and solicitation agent is Goldman Sachs & Co. (800 828-3182 or 212 357-6436). BNP Paribas Securities Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC and RBS Securities Inc. are co-dealer managers. The tender agent and information agent is D.F. King & Co., Inc. (800 697-6975 or, for banks and brokers, 212 269-5550).
Windstream provides network communications to businesses and broadband, phone and digital TV services to consumers primarily in rural areas. The company is based in Little Rock, Ark.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.