Tuesday, March 10, 2020

Frontier Communications to Skip Payments

"Frontier Communications Corp. will forgo coupon payments due March 15 as it prepares to file for bankruptcy with a plan that cuts its debt and hands control of the company to existing creditors, according to people with knowledge of the plans."
The April 2020 maturity traded at 35 cents!

2 comments:

eahilf said...

Do the creditors want control of the company? -- I'm sure they'd prefer their money back, especially with economic trouble looming, and the fact Frontier already sold key assets.

Ponch73 said...

Stock is down exactly 50% since the day after reporting Q3 earnings, which was November 6, 2019.