Windstream Announces Extension of Consent Solicitations
The Company is extending the expiration date for its consent solicitations with respect to its (i) existing 7.75% senior notes due 2021 (the "2021 Notes") and (ii) 7.50% senior notes due 2022 (the "2022 Notes") (together, the "Consent Solicitations"). The expiration date for the Consent Solicitations has been extended to 11:59 p.m., New York City time, on November 27, 2017.
The Company launched the Consent Solicitations on October 18, 2017, seeking consents from holders of each series of Notes to waive certain alleged defaults with respect to transactions related to the spin-off of
The Consent Solicitations require consents from holders representing a majority of the outstanding aggregate principal amount of an applicable series of Notes in order for such waivers and amendments to become effective with respect to such series of Notes. The Company denies that any alleged default has occurred and is seeking a judicial declaration that there has been no default in connection with the Spin-Off and related transactions.
Holders are advised to check with any bank, securities broker or other intermediary through which they hold any of the notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in, or (in the circumstances in which revocation is permitted) revoke their instruction to participate in, the Consent Solicitations before the deadlines specified herein and in the Offering Documents.
None of the Company, its board of directors, its officers, the information and tabulation agent or the trustee with respect to the outstanding notes, or any of the Company's or their respective affiliates, makes any recommendation that holders deliver consents pursuant to the Consent Solicitations, and no one has been authorized by any of them to make such a recommendation. Holders must make their own decision as to whether to participate.
This press release is for informational purposes only. The Consent Solicitations are being made solely pursuant to the consent solicitation statements and related letter of consent, if applicable. The Consent Solicitations are not being made to holders of notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale of any securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful.
All references to “Windstream” as used throughout this document refer to
Certain statements contained in this press release may constitute forward-looking statements. Forward-looking statements are subject to uncertainties that could cause actual future events and results to differ materially from those expressed in the forward-looking statements. These forward-looking statements, including with respect to the Company’s ability to complete the Consent Solicitations, as described in this press release, are based on estimates, projections, beliefs, and assumptions that Windstream believes are reasonable but are not guarantees of future events and results. Actual future events and results of Windstream may differ materially from those expressed in these forward-looking statements as a result of a number of important factors, including those described in filings by Windstream with the Securities and Exchange Commission, which can be found at www.sec.gov.
Source: Windstream Holdings, Inc.