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Frontier Communications ( NASDAQ: FYBR ) subsidiary has priced its previously announced private offering of $750M of first lien secured notes due 2031.
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.
Net proceeds of the offering will be used 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 offering is expected to close on March 8, 2023, subject to customary conditions.