Windstream refinancing actions lower interest costs and improve debt maturity profile
LITTLE ROCK, Ark. - Windstream Corp. (Nasdaq: WIN) announced today that it had incurred $1.345 billion in term loans under its existing senior secured credit facilities, the proceeds of which were used to repay approximately $300 million of outstanding term loans due in July 2013 and approximately $1.045 billion of outstanding term loans due in December 2015.
"Today's debt refinancing lowers our interest costs and significantly reduces our near-term maturities, strengthening our balance sheet and providing further support for our dividend," said Tony Thomas, chief financial officer and treasurer of Windstream.
This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities of Windstream.
Windstream Corp. (Nasdaq:WIN) is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas. Windstream has more than $6 billion in annual revenues and is listed on the S&P 500 index.