Windstream Plans Private Placement Of $500 Mln Of Senior Notes

(RTTNews) - Windstream Corp. (WIN) said Monday that it plans to offer in a private placement $500 million aggregate principal amount of senior unsecured notes that will mature in 2021 and bear interest at a fixed rate of 7.75% per year.

The offering is expected to be completed before the end of this month.

If the offering is successfully placed, Windstream plans to use the net proceeds of the offering, together with available cash, if required, to pay the consideration for the tender offer and consent solicitation announced by the company today to purchase for cash any and all of its outstanding $500 million aggregate principal amount of 7.0% Senior Notes due 2019 together with related fees and expenses.

To the extent that holders of less than $500 million in aggregate principal amount of the 2019 Notes tender their notes, Windstream plans to use the remaining net proceeds of the notes offering, together with available cash, if required, to redeem all of the remaining outstanding 2019 Notes.