Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2

[waltermasoni]

Rating Action:
Moody's assigns B2 rating on Frontier's new First Lien Senior Secured Notes

12 Mar 2019
New York, March 12, 2019 -- Moody's Investors Service ("Moody's") has assigned a B2 (LGD3) to Frontier Communications Corporation's (Frontier) new $1.65 billion first lien senior secured notes due 2027. This rating is in line with the existing rating for the company's first lien debt class. Proceeds from this new debt raise will be used to repay the company's senior secured term loan A due March 2021 and its senior secured term loan facility due October 2021. In addition, Frontier is expected to extend at least $835 million of its $850 million revolving credit facility maturity to February 2024 simultaneously with the closing of this first lien senior secured notes offering, or two years beyond the facility's current February 2022 maturity. The maturity date of any revolver commitment not extended will remain February 2022. All other ratings including Frontier's B3 corporate family rating (CFR) and stable outlook are unchanged.



This refinancing will provide Frontier with additional flexibility, further extending a previously manageable maturity profile for longer and now through year-end 2021. In early 2018 the company's full common stock dividend elimination and cash tender for short maturity unsecured notes using proceeds from a second lien notes offering were credit positive and liquidity enhancing actions that contributed to the company's stable outlook. Frontier has a strong ability to address remaining upcoming unsecured maturities though 2021 with internally generated cash flow and revolver availability. Moody's expects Frontier to generate at least $500 million in free cash flow annually. This improved liquidity position affords the company additional time and flexibility to improve its still weak operating trends. Despite sequential improvement in certain operating metrics, Moody's believes that Frontier's EBITDA will remain under pressure until it can reverse its negative subscriber trends and lower churn levels.

Frontier Communications Corp. $1.65 Billion First-Lien Senior Secured Notes Rated 'B' (Recovery Rating: '1')

• 12-Mar-2019 10:05 EDT

View Analyst Contact Information

NEW YORK (S&P Global Ratings) March 12, 2019--S&P Global Ratings today
assigned its 'B' issue-level rating to Norwalk, Conn.-based incumbent
telecommunications provider Frontier Communications Corp.'s proposed $1.65
billion first-lien senior secured notes due in 2027. The '1' recovery rating
indicates our expectation for very high (90%-100%; rounded estimate: 95%)
recovery in the event of payment default.

Proceeds from the notes will be used to repay its $1.4 billion and $239
million outstanding term loan A facilities due in 2021 and to pay related fees
and expenses. At the same time, the company is extending the maturity date of
its $850 million revolving credit facility by two years from 2022 to 2024.
Depending on commitments, the company may extend a minimum of $835 million of
the facility. The maturity date of any revolver commitment not extended will
remain 2022.

 

[fedro10]

Bonds Detail UN SOLO SCAMBIO

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[salice02]

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[fabriziof]

La sapevate??

Latest News - bristowgroup.com

Si

 

[apudmontem]

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[fabriziof]

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Per risollevare le quotazioni un benefattore ha comprato 2k di Bristow 22 a 34

 

[fabriziof]

Per risollevare le quotazioni un benefattore ha comprato 2k di Bristow 22 a 34

Io il mio dovere l'ho fatto un mese fa con 20k a 23

 

[Fabrib]

Frontier Communications (NASDAQ:FTR) has priced its secured notes for a refinancing at 8% per year.
The offering of $1.65B in first lien secured notes due 2027 will be sold at 100% of principal, and will settle about March 15.
The company's using the eight-year debt to roll over a term loan and a credit agreement each maturing in 2021, and to extend $835M of an $850M revolving facility to 2024 from 2022.

 

[Near]

Frontier Communications (NASDAQ:FTR) has priced its secured notes for a refinancing at 8% per year.
The offering of $1.65B in first lien secured notes due 2027 will be sold at 100% of principal, and will settle about March 15.
The company's using the eight-year debt to roll over a term loan and a credit agreement each maturing in 2021, and to extend $835M of an $850M revolving facility to 2024 from 2022.

secondo voi è tanto o è poco?

 

[fabriziof]

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