Windstream Extends Exchange Offers

June 29, 2018

LITTLE ROCK, Ark., June 29, 2018 (GLOBE NEWSWIRE) -- Windstream Holdings, Inc. (Nasdaq:WIN) announced today that its wholly-owned subsidiaries, Windstream Services, LLC and Windstream Finance Corp. are extending the following terms of their previously announced exchange offers with respect to certain series of its outstanding senior notes: (i) the early tender date (the “Early Tender Date”) and (ii) the expiration date (the “Expiration Date”) to allow holders additional time to comply with the tender procedures described in the offering documents.

2020 Exchange Offer

The amendment of the offer to exchange 7.75% senior notes due 2020 (“2020 Notes”) for new 9.375% senior second lien notes due 2024 (the “New 2024 Notes”) (the “2020 Exchange Offer”) extends (i) the Early Tender Date to 5:00 p.m., New York City time, on July 6, 2018 and (ii) the Expiration Date to 11:59 p.m., New York City time, on July 20, 2018. All other terms and conditions of the 2020 Exchange Offer remain unchanged.

Multi-Tranche Exchange Offer

The amendment of the offers to exchange 7.75% senior notes due 2021, 7.50% senior notes due 2022, 7.50% senior notes due 2023, 6 3/8% senior notes due 2023 and 8.75% senior notes due 2024 (collectively, together with the 2020 Notes, the “Old Notes”) for new 9.00% senior second lien notes due 2025 (together with the New 2024 Notes, the “New Notes”) (the “Multi-tranche Exchange Offers” and, together with the 2020 Exchange Offer, the “Exchange Offers”) extends (i) the Early Tender Date to 5:00 p.m., New York City time, on July 6, 2018 and (ii) the Expiration Date to 11:59 p.m., New York City time, on July 20, 2018. All other terms and conditions of each Multi-tranche Exchange Offer remain unchanged.

The withdrawal deadline with respect to each Exchange Offer has expired. Old Notes tendered for exchange pursuant to any of the Exchange Offers may not be validly withdrawn, unless we determine in the future in our sole discretion, subject to applicable law, to permit withdrawal.

Each Exchange Offer is a separate offer and, subject to applicable law, may be amended, extended, terminated or withdrawn, either as a whole, or with respect to one or more series of Old Notes, at any time and for any reason, including if any of the conditions described in the applicable offering document are not satisfied or waived by the applicable Expiration Date (or the early settlement date, as the case may be).

New Notes

Any New Notes issued pursuant to any of the foregoing transactions will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws. The New Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.

Ipreo LLC is acting as the Information and Exchange Agent for the Exchange Offers. Questions or requests for assistance related to the Exchange Offers and for additional copies of the offering documents may be directed to Ipreo LLC at (212) 849-3880 (collect) or (888) 593-9546 (toll-free). You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Exchange Offers.

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 Exchange Offers, before the deadlines specified herein and in the offering documents. The deadlines set by each clearing system for the submission of tender instructions will also be earlier than the relevant deadlines specified herein and in the offering documents.

None of the companies, their boards of directors, their officers, the lead dealer manager, the dealer managers, the information and tabulation agent, the collateral agent or the trustee with respect to the outstanding notes, or any of the companies’ or their respective affiliates, makes any recommendation that that holders tender any outstanding notes in response to the Exchange Offers, 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 and, if so, the principal amount of outstanding notes to tender.

This press release is for informational purposes only. It shall not constitute an offer to sell or exchange, or a solicitation of an offer to buy or exchange, any notes, 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. The Exchange Offers are being made solely pursuant to the offering documents. The Exchange Offers 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.

About Windstream

Windstream Holdings, Inc. (NASDAQ:WIN), a FORTUNE 500 company, is a leading provider of advanced network communications and technology solutions. Windstream provides data networking, core transport, security, unified communications and managed services to mid-market, enterprise and wholesale customers across the U.S. The company also offers broadband, entertainment and security services for consumers and small and medium-sized businesses primarily in rural areas in 18 states. Services are delivered over multiple network platforms including a nationwide IP network, our proprietary cloud core architecture and on a local and long-haul fiber network spanning approximately 150,000 miles.

Forward-Looking Statement

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 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 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.

Media Contact:
Scott Morris, 501-748-5342
scott.l.morris@windstream.com

Investor Contact:
Chris King, 704-319-1025
christopher.c.king@windstream.com

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Source: Windstream Holdings, Inc.