Windstream Prices Private Offering Of $450 Million Of Its 7.75% Senior Notes Due 2021

LITTLE ROCK, Ark., March 14, 2011 (GLOBE NEWSWIRE) -- Windstream Corp. (Nasdaq:WIN) announced today the pricing of a private placement of $450 million aggregate principal amount of 7.75% Senior Notes due October 1, 2021, at an issue price of 99.116% to yield 7.875%. The offering is expected to settle on Mar. 28, 2011, subject to customary closing conditions.

Windstream expects to increase the maximum amount of 8.625% Senior Notes due 2016 ("2016 Notes") it is seeking in its previously announced tender offer to $1,100 million from the original amount of $600 million. Windstream expects to use the net proceeds of the offering, together with the net proceeds of its previously announced offering of 7.50% Senior Notes due 2023 and borrowings under its revolving line of credit or cash on hand, to pay the consideration in connection with the tender offer, together with accrued and unpaid interest on 2016 Notes tendered and accepted in the tender offer, as well as related fees and expenses.

This news release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities of Windstream. The senior notes will be sold only to qualified institutional buyers in reliance on Rule 144A, and outside the United States in compliance with Regulation S under the Securities Act of 1933, as amended. The proposed issuance of the senior notes will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Windstream

Windstream Corp. (Nasdaq:WIN), headquartered in Little Rock, Ark., is an S&P 500 communications and technology solutions provider with operations in 29 states and the District of Columbia and about $4 billion in annual revenues. Windstream provides IP-based voice and data services, MPLS networking, data center and managed hosting services and communication systems to businesses and government agencies. The company also delivers broadband, digital phone and high-definition TV services to residential customers primarily located in rural areas and operates a local and long-haul fiber network spanning approximately 60,000 route miles.