Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

FRONTIER COMMUNICATIONS PARENT, INC.

(FYBR)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Frontier Communications Parent : Prices $1.0 Billion of Second Lien Secured Notes

10/05/2021 | 04:02pm EST

Frontier Communications Holdings, LLC (the “Issuer”), a consolidated subsidiary of Frontier Communications Parent, Inc. (NASDAQ: FYBR) (“Frontier” or the “Company”) today announced the pricing of its previously announced private offering of $1.0 billion aggregate principal amount of second lien secured notes due 2030 (the “Notes”). The Notes will bear interest at 6.000% 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 October 13, 2021, 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.

The Notes and the related guarantees are being offered and sold only to persons reasonably believed to be “qualified institutional buyers” in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to certain non-U.S. persons in compliance with Regulation S under the Securities Act. The Notes and the related guarantees have not been and will not be registered for sale under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the Notes or any other securities, and shall not constitute an offer to sell, solicitation of an offer to buy, or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering memorandum.

About Frontier

Frontier offers a variety of services to residential and business customers over its fiber-optic and copper networks in 25 states, including video, high-speed Internet, advanced voice, and Frontier Secure® digital protection solutions. Frontier Business™ offers communications solutions to small, medium, and enterprise businesses.

Forward-Looking Statements

This release contains "forward-looking statements" related to future events. Forward-looking statements address our expectations or beliefs concerning future events, including, without limitation, the completion of the transactions contemplated hereby and the use of proceeds therefrom. These statements are made on the basis of management’s views and assumptions, as of the time the statements are made, regarding future events and performance and contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “may,” “will,” “would,” or “target.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. A wide range of factors could materially affect future developments and performance, including but not limited to: our significant indebtedness, our ability to incur substantially more debt in the future, and covenants in the agreements governing our current indebtedness that may reduce our operating and financial flexibility; our ability to successfully implement strategic initiatives, including our fiber buildout and other initiatives to enhance revenue and realize productivity improvements; competition from cable, wireless and wireline carriers, satellite, fiber “overbuilders” and over the top companies, and the risk that we will not respond on a timely or profitable basis; our ability to successfully adjust to changes in the communications industry, including the effects of technological changes and competition on our capital expenditures, products and service offerings; risks related to disruption in our networks, infrastructure and information technology that result in customer loss and/or incurrence of additional expenses; the impact of potential information technology or data security breaches or other cyber-attacks or other disruptions; our ability to retain or attract new customers and to maintain relationships with customers, including wholesale customers; our reliance on a limited number of key supplies and vendors; declines in revenue from our voice services, switched and nonswitched access and video and data services that we cannot stabilize or offset with increases in revenue from other products and services; our ability to secure, continue to use or renew intellectual property and other licenses used in our business; our ability to hire or retain key personnel; our ability to dispose of certain assets or asset groups or to make acquisition of certain assets on terms that are attractive to us, or at all; the effects of changes in the availability of federal and state universal service funding or other subsidies to us and our competitors and our ability to obtain future subsidies, including participation in the proposed RDOF program; our ability to meet our CAF II and RDOF obligations and the risk of penalties or obligations to return certain CAF II and RDOF funds; our ability to defend against litigation and potentially unfavorable results from current pending and future litigation; our ability to comply with applicable federal and state consumer protection requirements; the effects of governmental legislation and regulation on our business, including costs, disruptions, possible limitations on operating flexibility and changes to the competitive landscape resulting from such legislation or regulation; the impact of regulatory, investigative and legal proceedings and legal compliance risks; our ability to effectively manage service quality in the states in which we operate and meet mandated service quality metrics; the effects of changes in income tax rates, tax laws, regulations or rulings, or federal or state tax assessments; the effects of changes in accounting policies or practices; our ability to successfully renegotiate union contracts; the effects of increased medical expenses and pension and postemployment expenses; changes in pension plan assumptions, interest rates, discount rates, regulatory rules and/or the value of our pension plan assets; the likelihood that our historical financial information may no longer be indicative of our future performance and our implementation of fresh start accounting; adverse changes in economic, political and market conditions in the areas that we serve, the U.S. and globally; potential adverse impacts of the COVID-19 pandemic on our business and operations, including potential disruptions to the work of our employees arising from health and safety measures such as social distancing and working remotely, our ability to effectively manage increased demand on our network, our ability to maintain relationships with our current or prospective customers and vendors as well as their abilities to perform under current or proposed arrangements with us, and stress on our supply chain; risks associated with our emergence from the Chapter 11 Cases, including, but not limited to, the continuing effects of the Chapter 11 Cases on us and our relationships with our suppliers, customers, service providers or employees and changes in the composition of our board of directors and senior management; volatility in the trading price of our common stock, which has a limited trading history; substantial market overhang from the common stock issued in the Chapter 11 reorganization; certain provisions of Delaware law and our certificate of incorporation that may prevent efforts by our stockholders to change the direction or management of our Company; and certain other factors set forth in our other filings with the SEC. This list of factors that may affect future performance and the accuracy of forward-looking statements is illustrative and is not intended to be exhaustive. You should consider these important factors, as well as the risks and other factors contained in Frontier’s filings with the U.S. Securities and Exchange Commission, including our most recent reports on Form 10-K and Form 10-Q. These risks and uncertainties may cause actual future results to be materially different than those expressed in such forward-looking statements. We do not intend, nor do we undertake any duty, to update any forward-looking statements.


ę Business Wire 2021
All news about FRONTIER COMMUNICATIONS PARENT, INC.
12/06Frontier Communications Strikes Partnership With YouTube TV
MT
12/06Frontier Communications and YouTube TV Announce Partnership
BU
12/01Frontier Communications to Present at the UBS Global TMT Virtual Conference
BU
11/24Frontier Communications to Present at the BofA Securities 2021 Leveraged Finance Confer..
BU
11/23Frontier Communications to Present at the 5th Annual Virtual Wells Fargo TMT Summit
BU
11/12Frontier Communications to Present at the Morgan Stanley European Technology, Media & T..
BU
11/10Frontier Communications to Present at the BCG and New Street Research 5G Conference
BU
11/04Raymond James Adjusts Price Target on Frontier Communications Parent to $36 from $34, K..
MT
11/03FRONTIER COMMUNICATIONS PARENT, INC. Management's Discussion and Analysis of Financial..
AQ
11/03Frontier Communications Parent Posts Higher Q3 EPS, Lower Revenue
MT
More news
Analyst Recommendations on FRONTIER COMMUNICATIONS PARENT, INC.
More recommendations
Financials (USD)
Sales 2021 6 437 M - -
Net income 2021 4 902 M - -
Net Debt 2021 6 116 M - -
P/E ratio 2021 2,99x
Yield 2021 -
Capitalization 8 043 M 8 043 M -
EV / Sales 2021 2,20x
EV / Sales 2022 2,53x
Nbr of Employees 15 803
Free-Float -
Chart FRONTIER COMMUNICATIONS PARENT, INC.
Duration : Period :
Frontier Communications Parent, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FRONTIER COMMUNICATIONS PARENT, INC.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Last Close Price 32,91 $
Average target price 60,20 $
Spread / Average Target 82,9%
EPS Revisions
Managers and Directors
Nicholas Simon Jeffery President, Chief Executive Officer & Director
Scott C. Beasley Chief Financial Officer & Executive Vice President
John G. Stratton Executive Chairman
Kevin L. Beebe Director
Lisa V. Chang Director