Frontier Communications Prices $600M Debt Offering

STAMFORD, Conn. (AP) — Frontier Communications Corp., a provider of phone, TV and Internet services, said Thursday it has priced an offering of $600 million worth of 8.125 percent senior notes due 2018.

The issue price will be 98.441 percent of the principal amount of the notes, the company said. The offering is expected to close on Oct. 1.

Frontier Communications said it will receive net proceeds of about $577.6 million from the offering. It intends to use the money, along with cash on hand, to finance a cash tender offer announced earlier Thursday to purchase up to $700 million of its outstanding 9.25 percent senior notes due 2011 and its outstanding 6.25 percent senior notes due 2013.

The joint book-running managers for the 2018 notes offering are Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities Inc.

Shares of Frontier Communications fell 21 cents, or 2.9 percent, to close at $7.11.