- Windstream Holdings (NASDAQ:WIN) has announced debt exchange offers for second-lien notes, as part of its continuing bid to enhance liquidity.
- It's offering to exchange any and all of its 7.75% senior notes due 2020 for new 9.375% senior second-lien notes due 2024. Conditions around the offer include that at $443.7M worth are tendered at minimum.
- It's also making separate multi-tranche offers to exchange outstanding 7.75% senior notes due 2021, 7.5% senior notes due 2022, 7.5% senior notes due 2023, 6 3/8% senior notes due 2023 and 8.75% senior notes due 2024 -- for new 9.0% senior second-lien notes due 2025.
- The maximum amount of those second-lien notes issued will be $950M.
- The offers expires July 13.
- Previously: Windstream secures consents for first-lien credit amendment (Jun. 06 2018)
- Previously: Analyst: Windstream's offered protections make second-lien debt more likely (Jun. 05 2018)
- Previously: Windstream to offer $18M in shares via Citi (Jun. 01 2018)
- Previously: Windstream launches consent solicitation on senior secured credit (May. 30 2018)
- Now read: The Lean, Mean, Income Machine: Volume 2
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