J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated Announce Termination of Cash Tender Offers for Debt Securities of Windstream Services, LLC (as successor to Windstream Corporation) and Windstream Finance Corporation
NEW YORK, April 10, 2015 /PRNewswire/ -- J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated (together, the "Purchasers") today announced that they have terminated their previously announced cash tender offers (the "Offers") for up to a certain maximum aggregate principal amount of Windstream Services, LLC (as successor to Windstream Corporation) (the "Company") and Windstream Finance Corporation's outstanding 8.125% Senior Notes due 2018 (CUSIPs 97381WAP9 and 97381WAK0) (the "2018 Notes") and 7.875% Senior Notes due 2017 (CUSIP 97381WAJ3) (the "2017 Notes" and, together with the 2018 Notes, the "Notes").
The Offers are being terminated because the Purchasers or their affiliates have purchased an amount of the Company's outstanding revolving and term loans pursuant to certain open market loan repurchases conducted during the offering such that the conditions to the Offers will not be satisfied. As a result of the termination, none of the Notes that have been tendered in the Offers will be accepted for purchase and no consideration will be paid or become payable to holders of Notes who have tendered their Notes in the Offers. All Notes previously tendered and not withdrawn will be promptly returned or credited back to their respective holders.
The Offers were subject to the conditions set forth in the offer to purchase, dated March 26, 2015 (the "Offer to Purchase"), and the related letter of transmittal (the "Letter of Transmittal"). These conditions, included, among others, the Purchasers or their affiliates spending less than $2,400,000,000 to purchase certain of the Company's outstanding revolving and term loans pursuant to certain open market loan repurchases being conducted concurrently with the Offers.
This press release confirms the formal termination of the Offers. The Purchasers reserve the right to initiate a new tender offer at a later date, engage in open market purchases or other transactions related to the Notes, but they are under no obligation to do so. Holders of Notes with questions regarding the termination of the Offers may direct such questions to Global Bondholder Services Corporation, the Information Agent, at (866) 470-4500 (toll free) or (212) 430-3774 (collect).
This press release does not constitute an offer to purchase securities or a solicitation of an offer to sell any securities or an offer to sell or the solicitation of an offer to purchase any securities, nor does it constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is unlawful.
SOURCE J.P. Morgan Securities LLC
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article