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Press Release: Windstream Amends and Extends Exchange Offers


LITTLE ROCK, Ark., July 13, 2018 (GLOBE NEWSWIRE) -- Windstream Holdings, Inc. (Nasdaq:WIN) announced today that its wholly-owned subsidiaries, Windstream Services, LLC (the “Issuer”) and Windstream Finance Corp. (together with the Issuer, the “Issuers”) are amending certain terms of each of its previously commenced offers to exchange (i) 7.75% senior notes due 2020 (“2020 Notes”) for new 9.375% senior second lien notes due 2024 (the “New 2024 Notes”) (the “2020 Exchange Offer”) and (ii) 7.75% senior notes due 2021, 7.50% senior notes due 2022, 7.50% senior notes due 2023, 6 3/8% senior notes due 2023 and 8.75% senior notes due 2024 (collectively, together with the 2020 Notes, the “Old Notes”) for new 9.00% senior second lien notes due 2025 (together with the New 2024 Notes, the “New Notes”) (the “Multi-Tranche Exchange Offers” and, together with the 2020 Exchange Offer, the “Exchange Offers”).
2020 Exchange OfferThe amendment of the 2020 Exchange Offer (i) extends the Early Tender Date and the Expiration Date to 11:59 p.m., New York City time, on July 26, 2018, (ii) increases the interest rate on the New 2024 Notes from 9.375% to 10.500% and makes corresponding changes to the optional redemption prices for the New 2024 Notes and (iii) revises the terms of the New 2024 Notes to provide that certain redemption premiums shall be payable in the event the New 2024 Notes are accelerated or otherwise become due prior to their stated maturity date, including as a result of certain bankruptcy events with respect to the Issuers and certain of their subsidiaries. All other terms and conditions of the 2020 Exchange Offer remain unchanged.  The specific terms of the amendment of the 2020 Exchange Offer will be set forth in a supplement to the applicable offering memorandum.Multi-Tranche Exchange OffersThe amendment of each Multi-Tranche Exchange Offer extends the Early Tender Date and the Expiration Date for each Multi-Tranche Exchange Offer to 11:59 p.m., New York City time, on July 26, 2018. All other terms and conditions of each Multi-Tranche Exchange Offer remain unchanged.Each Exchange Offer is a separate offer and, subject to applicable law, may be amended, extended, terminated or withdrawn, either as a whole, or with respect to one or more series of Old Notes, at any time and for any reason, including if any of the conditions described in the applicable offering document are not satisfied or waived by the applicable Expiration Date.


Posted: 2018-07-14 03:00:00

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