Frontier Communications Offers $1B Fiber-Backed Bond
Portfolio Pulse from Shivani Kumaresan
Frontier Communications Parent Inc (NASDAQ:FYBR) plans to offer approximately $1.05 billion of secured fiber network revenue term notes. The bonds will be secured by Frontier's fiber assets and customer contracts in the Dallas area. The proceeds will be used to pay existing debt and for general corporate purposes. This follows Frontier's bankruptcy filing in April 2020 and a $1 billion junk bond offering in 2021.
July 20, 2023 | 1:10 pm
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Frontier Communications is offering $1.05 billion in secured fiber network revenue term notes. The proceeds will be used to pay down existing debt, which could improve the company's financial health.
The offering of $1.05 billion in bonds indicates Frontier's proactive approach to managing its debt, which could be seen as a positive sign by investors. This could potentially lead to an increase in the company's stock price in the short term.
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