Frontier Communications Announces Restructuring Support Agreement to Support Continued Investment in Long-Term Growth
FRONTIER COMMUNICATIONS (FTR)
Last frontier communications earnings: 3/31 05:21 pm
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US:NASDAQ Investor Relations:
investor.frontier.com/investor-relations
Company Research
Source: Business Wire
Restructuring Support Agreement Supported by More Than 75% of Bondholders; Files Voluntary Chapter 11 Petitions to Implement Agreed-Upon Terms of Financial Restructuring PlanContinuing to Provide Uninterrupted Service to Customers across the U.S.; Trade Vendors Unimpaired for Pre- and Post-Petition Obligations Plan Expected to Reduce Debt by More Than $10 BillionSecures Commitments for $460 Million in Debtor-in-Possession Financing;Combined with Cash on Hand Totals Over $1.1 Billion in Liquidity NORWALK, Conn.--(BUSINESS WIRE)--Frontier Communications Corporation (NASDAQ: FTR) (“Frontier” or the “Company”) today announced that, together with its subsidiaries, it has entered into a Restructuring Support Agreement (“RSA”) with bondholders representing more than 75% of Frontier’s approximately $11 billion in outstanding unsecured bonds (the “Bondholders”). The RSA contemplates agreed-upon terms for a pre-arranged financial restructuring plan (the “Plan”) that leaves unimpaired all gen
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