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.