As Frontier proceeds with its acquisition of Verizon's rural phone lines, the service provider has decided sell off $2 billion of its debt as high-yield, high-risk bonds.
Proceeds from the sale of the debt will be used to pay a portion of what it owes Verizon for its acquisition of its rural lines. Although terms of sale have not been officially confirmed, Frontier could sell seven- and 10-year notes as early as today.
For more:
- Bloomberg has this article
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