Frontier Communications Holdings, LLC (the “Issuer”), a consolidated subsidiary of Frontier Communications Parent, Inc. (NASDAQ: FYBR) (“Frontier” or the “Company”), announced the pricing of its previously announced private offering of $750 million aggregate principal amount of first lien secured notes due 2031 (the “Notes”). The Notes will bear interest at 8.625% per year and will be sold at a price equal to 100% of the aggregate principal amount. The Notes offering is expected to close on March 8, 2023, subject to customary conditions.
Frontier intends to use the net proceeds of the offering to fund capital investments and operating costs arising from the Company’s fiber build and expansion of its fiber customer base, and for general corporate purposes.