Frontier Communications Sells $200 Million in Convertible Notes to Verizon

Reuters12-20
Frontier Communications Sells $200 Million in Convertible Notes to Verizon

Frontier Communications Parent Inc. has announced a private placement through the issuance of a Convertible Unsecured Promissory Note to Verizon Communications Inc. Under the agreement, Verizon extended up to $200 million in credit to Frontier Communications Holdings, with $50 million drawn at issuance and the remaining $150 million available in two tranches during the first quarter of 2026, subject to Verizon’s consent for the final tranche. The note, issued in reliance on a private placement exemption under Section 4(a)(2) of the Securities Act of 1933, automatically converts into shares of Frontier common stock at a conversion price of $38.50 per share, subject to limited exceptions.

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