"Frontier Tells Creditors It Seeks a March Bankruptcy"
Frontier Communications Corp., the provider of telecom services in 29 states, is asking creditors to help craft a turnaround deal that includes filing for bankruptcy by the middle of March, according to people with knowledge of the matter.
Company executives including Bernie Han, Frontier’s new chief executive officer, met with creditors and advisers Thursday and told them the company wants to negotiate a pre-packaged agreement before $356 million of debt payments come due March 15, the people said. They asked not to be identified because the meeting was private.
Certain Frontier creditors signed confidentiality documents that restrict their ability to trade in preparation for the negotiations, the people said.
3 comments:
Great call on your part. Your analysis was not only very insightful, but also very persuasive.
Early peek for the CBS 2020 prediction contest?
How many had 0 for April bond payment?
How many had <50% & >50%?
* Frontier Communications pays its unsecured bond maturing in April 2020.
Highest probability: 85%
Lowest probability: 20%
This was the 2nd most controversial (as measured by std dev)!
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