Frontier Begins $2.8 Billion Junk-Bond Sale to Exit Bankruptcy
- Telecom operator offers yields as high as 7.25% on new debt
- Proceeds from the note offering will repay existing debt
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Frontier Communications Corp. is looking to sell $2.8 billion of junk bonds to help finance its emergence from bankruptcy, its second such sale in two months.
The telecommunications company is sounding out investors for a new $1.8 billion first-lien bond at a yield of around 5.25%, according to people familiar with the matter who asked not to be identified because the discussions are private.