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

|About: Frontier Communications Cor... (FTR)|By:, SA News Editor

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.