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Windstream Commences Tender Offer And Consent Solicitation For Its 7.0% Senior Notes Due 2019

LITTLE ROCK, Ark., Aug. 12, 2013 (GLOBE NEWSWIRE) -- Windstream Corp. (Nasdaq:WIN) (the "Company") announced today that it has commenced a tender offer to purchase for cash any and all of the outstanding $500 million aggregate principal amount of 7.0% Senior Notes due 2019 (the "Notes").

In conjunction with the tender offer, the Company also commenced a solicitation of consents to amend the indenture governing the Notes to eliminate substantially all of the restrictive covenants and certain other provisions contained in the indenture governing the Notes. The tender offer and consent solicitation are being made pursuant to the Company's Offer to Purchase and Consent Solicitation Statement (the "Offer to Purchase"), dated August 12, 2013, which sets forth a more comprehensive description of the terms of the offer.

Holders who properly tender and do not validly withdraw their Notes and deliver their consents to the proposed amendments on or prior to 5:00 p.m., New York City time, on August 23, 2013, unless extended or earlier terminated (the "Early Tender Deadline"), will be eligible to receive the total consideration, which includes a consent payment equal to $25.00 per $1,000 principal amount of the tendered Notes.

As set forth in the table below and in the Offer to Purchase, the total consideration for each $1,000 principal amount of Notes validly tendered and accepted for payment pursuant to the offer is $1,027.83.

CUSIP No. Principal Amount Outstanding Security Description Tender Offer Consideration (1) Consent Payment (1)(2) Total Consideration (1)(2)
97381WAF1 $500,000,000 7.0% Senior $1,002.83 $25.00 $1,027.83
    Notes due 2019      
(1)   Per $1,000 Principal Amount of Notes
(2)   Payable only to Holders who tender at or prior to the Early Tender Deadline

Holders who properly tender after the Early Tender Deadline but on or prior to the Expiration Date specified below will be eligible to receive the tender offer consideration, which equals the total consideration less the consent payment per $1,000 principal amount of the tendered Notes.

Stock quotes in this article: WIN 

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