Stamford’s Frontier Communications Corp. said it is selling $1.55 billion in debt to help fund its $2 billion purchase of AT&T’s Connecticut wireline and triple-play business.
The senior notes, broken into two groups of $775 million each, are due in 2021 and 2024, respectively.
Frontier hopes to close its AT&T purchase in the next four months. It has won a number of regulatory approvals, but recently hit a hitch with the state’s Public Utilities Regulatory Authority, which told Frontier it had to change parts of its settlement agreement with the Attorney General and Office of Consumer Counsel.
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