LITTLE ROCK, Ark.--(BUSINESS WIRE)--
Windstream Corporation (NYSE: WIN) today announced the effectiveness of
the previously announced amendment and restatement of its senior secured
credit facilities.
Under the amendment and restatement, (i) the maturity date of
approximately $347.6 million of the revolving commitments will be
extended from July 17, 2011, to July 17, 2013; (ii) the maturity date of
approximately $168.9 million of the Term Loan A loans will be extended
from July 17, 2011, to July 17, 2013; and (iii) the maturity date of
approximately $1.078 billion of the Term B loans will be extended from
July 17, 2013 to December 17, 2015. The original maturity dates continue
to apply to approximately $152.4 million of revolving commitments,
approximately $114.4 million of Term Loan A loans and approximately
$290.5 million of Term Loan B loans.
This news release is for informational purposes only and is not an offer
to buy or the solicitation of an offer to sell any securities of
Windstream.
About Windstream
Windstream Corporation is an S&P 500 company that provides phone,
high-speed Internet and high-definition digital TV services to customers
in 16 states. The company also offers a wide range of IP-based voice and
data services and advanced phone systems and equipment to businesses and
government agencies. The company has approximately 3 million access
lines and about $3.1 billion in annual revenues. Windstream is ranked
4th in the 2009 BusinessWeek 50 ranking of the best performing U.S.
companies.
Windstream claims the protection of the safe-harbor for forward-looking
statements contained in the Private Securities Litigation Reform Act of
1995. 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 of Windstream may
differ materially from those expressed in these forward-looking
statements as a result of a number of important factors. Factors that
could cause actual results to differ materially from those contemplated
above include, among others: further adverse changes in economic
conditions in the markets served by Windstream; the extent, timing and
overall effects of competition in the communications business; continued
access line loss; the impact of new, emerging or competing technologies;
the adoption of inter-carrier compensation and/or universal service
reform proposals by the Federal Communications Commission or Congress
that results in a significant loss of Windstream's revenue; the risks
associated with the integration of acquired businesses or the ability to
realize anticipated synergies, cost savings and growth opportunities;
the availability and cost of financing in the corporate debt markets;
the potential for adverse changes in the ratings given to Windstream's
debt securities by nationally accredited ratings organizations; the
effects of federal and state legislation, and rules and regulations
governing the communications industry; material changes in the
communications industry that could adversely affect vendor relationships
with equipment and network suppliers and customer relationships with
wholesale customers; unexpected results of litigation; unexpected
rulings by state public service commissions in proceedings regarding
universal service funds, inter-carrier compensation or other matters
that could reduce revenues or increase expenses; the effects of work
stoppages; the impact of equipment failure, natural disasters or
terrorist acts; earnings on pension plan investments significantly below
Windstream's expected long term rate of return for plan assets;
unexpected results of relocation of Windstream's data center; and those
additional factors under the caption "Risk Factors" in Windstream's Form
10-K for the year ended December 31, 2008. In addition to these factors,
actual future performance, outcomes and results may differ materially
because of more general factors including, among others, general
industry and market conditions and growth rates, economic conditions,
and governmental and public policy changes. Windstream undertakes no
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. The
foregoing review of factors that could cause Windstream's actual results
to differ materially from those contemplated in the forward-looking
statements should be considered in connection with information regarding
risks and uncertainties that may affect Windstream's future results
included in Windstream's filings with the Securities and Exchange
Commission at www.sec.gov.