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Frontier Communications Commences Cash Tender Offers For Any And All Of Its 6.625% Senior Notes Due 2015 And 7.875% Senior Notes Due 2015

Holders who validly tender (and do not validly withdraw) April 2015 Notes at or prior to 5:00 p.m., New York City time, on April 9, 2013, unless extended (the "April 2015 Notes Early Tender Deadline"), will be eligible to receive the "April 2015 Notes Total Consideration," which for each $1,000 principal amount of April 2015 Notes validly tendered is equal to $1,141.91, including an early tender premium (the “April 2015 Notes Early Tender Premium”) of $30.00 per $1,000 principal amount of April 2015 Notes. Holders who validly tender (and do not validly withdraw) April 2015 Notes after the April 2015 Notes Early Tender Deadline and prior to the Expiration Date will not be eligible to receive the April 2015 Notes Early Tender Premium, and instead will be eligible to receive only the "April 2015 Notes Offer Consideration," which for each $1,000 principal amount of April 2015 Notes is equal to the April 2015 Notes Total Consideration less the April 2015 Notes Early Tender Premium.

The consummation of the Offers is subject to the satisfaction or waiver of a number of conditions, including the consummation of Frontier’s concurrent debt offering in an aggregate principal amount of $500 million (the “Financing Condition”). The Offers are not conditioned on the tender of a minimum principal amount of Notes and Frontier is not soliciting consents from holders of Notes in connection with the Offers. In addition, Frontier has the right, in its sole discretion, to amend or extend the terms of or terminate any of the Offers at any time, subject to applicable law.

The “Early Settlement Date” will occur promptly after Frontier accepts for purchase all March 2015 Notes and April 2015 Notes validly tendered by the applicable early tender date. Provided that the Financing Condition and all other conditions are satisfied or waived on or prior to the business day immediately following the applicable early tender date, Frontier currently expects that the Early Settlement Date in respect of the March 2015 Notes and April 2015 Notes will occur promptly following the applicable early tender date on April 10, 2013. The “Final Settlement Date” will occur promptly after Frontier accepts for purchase all March 2015 Notes and April 2015 Notes validly tendered (and not validly withdrawn) after the applicable early tender date (but at or prior to the Expiration Date). Frontier anticipates that the Final Settlement Date will be the same as the Expiration Date, which is currently expected to be April 24, 2013.

Stock quotes in this article: FTR 

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