Windstream amends exchange offers with new dates, rates

|By:, SA News Editor

Windstream Holdings (NASDAQ:WIN) has again amended its bond exchange offers, extending early tender dates and sweetening interest terms on one offer.

The early tender and expiration date on an offer to exchange 7.75% senior notes due 2020 for new 9.375% senior second-lien notes due 2024 has been moved nearly a week later, to July 26. And the company has increased the interest rate on the new notes to 10.5% from 9.375%.

On its multi-tranche exchange offers -- to exchange 7.75% senior notes due 2021, 7.50% senior notes due 2022, 7.50% senior notes due 2023, 6 3/8% senior notes due 2023 and 8.75% senior notes due 2024 -- the company's also moving their early tender and expiration date to July 26. All other terms are unchanged.

Windstream Friday fell 0.4% to close at $4.52; Uniti Group (NASDAQ:UNIT) rose 0.3% to end at $21.70.

Subscribe for full text news in your inbox