Windstream weighs second lien potential exchange for 2020 maturities

By Devika Patel

Knoxville, Tenn., May 16 – Windstream Holdings, Inc. plans to execute an amendment to its credit facility that would allow a second lien potential exchange in order to address its upcoming 2020 maturities.

“Our focus is our near-term 2020 maturities,” president and chief executive officer Tony Thomas said at the 46th annual J.P. Morgan Global Technology, Media and Communications Conference in Boston on Wednesday.

“We do think a second lien potential exchange could be an attractive way to improve our balance sheet.

“Obviously, that would require an amendment to be able to execute it ... and that’s what we’re focused on getting done,” Thomas said.

Management feels “good” about the company’s total leverage calculation.

“We see no need to change the total leverage calculation, given the trajectory we have in the business, the progress we’re going to make in free cash flow,”

“We feel good about the total leverage,” he said.

Windstream is a Little Rock, Ark.-based networking and telecommunications company.

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