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Windstream Prices Private Offering Of $700 Million Of 6.375% Senior Notes Due 2023

LITTLE ROCK, Ark., Jan. 8, 2013 (GLOBE NEWSWIRE) -- Windstream Corp. (Nasdaq:WIN) ("Windstream") announced today the pricing of a private placement of $700 million aggregate principal amount of 6.375% senior unsecured notes due August 1, 2023, at an issue price of 100.00% to yield 6.374%. The offering is expected to settle on January 23, 2013, subject to customary closing conditions.

Windstream intends 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 Windstream today to purchase for cash any and all of the outstanding $650 million aggregate principal amount of 8.875% Senior Secured Notes due 2017 (the "PAETEC Notes") issued by PAETEC Holding Corp., a wholly-owned subsidiary of Windstream, together with related fees and expenses. To the extent that holders of less than $650 million in aggregate principal amount of the PAETEC Notes tender their notes, Windstream intends to use the remaining net proceeds of the notes offering to either redeem all or a portion of the remaining outstanding PAETEC Notes or for general corporate purposes.

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 unsecured 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 unsecured 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) is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas. Windstream has more than $6 billion in annual revenues and is listed on the S&P 500 index.

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