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Frontier's (FTR +3.7%) has expanded the scope of its debt refinancing, much to the Street's...

Frontier's (FTR +3.7%) has expanded the scope of its debt refinancing, much to the Street's approval. The telco is now including $831.7M worth of 8.25% senior notes due 2017 as part of its cash tender offers, and has expanded the size of its 2024 senior note offering to $750M from $500M. Nomura's Mike McCormack (previous) thinks the moves demonstrate Frontier's financial health. He estimates Frontier will generate $3.5B in free cash flow from 2014-2017, more than enough to handle dividend/debt maturity obligations of $3.15B.
Comments (3)
  • bbyron
    , contributor
    Comments (3) | Send Message
     
    FTR board should use June and Sept dividend to buy back stock, THIS would help shareholders by driving away the shorts. This company should be in the 6-7 dollar range
    29 Mar 2013, 12:48 AM Reply Like
  • hondacivic21218
    , contributor
    Comments (4) | Send Message
     
    As one who bought FTR strictly for the dividend, thank's for
    your (I hope) reassuring news.
    29 Mar 2013, 04:23 PM Reply Like
  • hondacivic21218
    , contributor
    Comments (4) | Send Message
     
    As I bought FTR for its dividend, I welcome your
    reassuring comment.
    29 Mar 2013, 04:23 PM Reply Like
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