, Sept. 4, 2012 /PRNewswire/ -- FairPoint Communications, Inc. (NasdaqCM: FRP) today announced it has made a voluntary prepayment of debt of
on its term loan.
With this repayment, FairPoint's term loan is down from
, 2012 to
, 2012. FairPoint made the
prepayment out of cash on hand.
"This is a significant milestone. Our continued focus on free cash flow generation gave us the confidence to make this voluntary prepayment," said
, executive vice president and chief financial officer. "We believe reducing debt benefits all our stakeholders and is a key objective for us."
About FairPoint Communications, Inc.
FairPoint Communications, Inc. (NasdaqCM: FRP) is a leading communications provider of broadband Internet access, local and long-distance phone, television and other high-capacity data services to customers in communities across 18 states. Through its fast, reliable fiber network, FairPoint delivers high-quality data and voice networking communications solutions to residential, business and wholesale customers. FairPoint delivers VantagePoint(SM) services through its resilient IP-based network in northern New England. This state-of-the-art fiber network provides carrier Ethernet connections to support the surging bandwidth and performance requirements for cloud-based applications like network storage, disaster recovery, distance learning, medical imaging, video conferencing and CAD/CAM along with traditional voice, VoIP, video and Internet access solutions. Additional information about FairPoint products and services is available at
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