Frontier Communications 2011 Annual Report Download - page 80

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FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements
F-17
Additional information regarding our Senior Unsecured Debt at December 31, 2011 and 2010 is as follows:
2011 2010
Principal Interest Principal Interest
($ in thousands) Outstanding Rate Outstanding Rate
Senior Notes:
Due 5/15/2011 $ - - $ 76,089 9.250%
Due 10/24/2011 - - 200,000 6.270%
Due 12/31/2012 - - 144,000 1.688% (Variable)
Due 1/15/2013 580,724 6.250% 580,724 6.250%
Due 12/31/2013 - - 131,288 2.063% (Variable)
Due 5/1/2014 600,000 8.250% 600,000 8.250%
Due 3/15/2015 300,000 6.625% 300,000 6.625%
Due 4/15/2015 500,000 7.875% 500,000 7.875%
Due 10/14/2016 575,000 3.175% (Variable) - -
Due 4/15/2017 1,100,000 8.250% 1,100,000 8.250%
Due 10/1/2018 600,000 8.125% 600,000 8.125%
Due 3/15/2019 434,000 7.125% 434,000 7.125%
Due 4/15/2020 1,100,000 8.500% 1,100,000 8.500%
Due 4/15/2022 500,000 8.750% 500,000 8.750%
Due 1/15/2027 345,858 7.875% 345,858 7.875%
Due 2/15/2028 200,000 6.730% 200,000 6.730%
Due 10/15/2029 50,000 8.400% 50,000 8.400%
Due 8/15/2031 945,325 9.000% 945,325 9.000%
7,830,907 7,807,284
Debentures:
Due 11/1/2025 138,000 7.000% 138,000 7.000%
Due 8/15/2026 1,739 6.800% 1,739 6.800%
Due 10/1/2034 628 7.680% 628 7.680%
Due 7/1/2035 125,000 7.450% 125,000 7.450%
Due 10/1/2046 193,500 7.050% 193,500 7.050%
458,867 458,867
Subsidiary Senior
Notes due 12/1/2012 36,000 8.050% 36,000 8.050%
Total $ 8,325,774 7.93% $ 8,302,151 8.04%
On October 14, 2011, the Company entered into a credit agreement (the Credit Agreement) with CoBank, ACB, as
administrative agent, lead arranger and a lender, and the other lenders party thereto for a $575 million senior unsecured
term loan facility with a final maturity of October 14, 2016. Repayment of the outstanding principal balance will be
made in quarterly installments in the amount of $14,375,000, commencing on March 31, 2012, with the remaining
outstanding principal balance to be repaid on the final maturity date. Borrowings under the Credit Agreement bear
interest based on the margins over the Base Rate (as defined in the Credit Agreement) or LIBOR, at the election of the
Company. Interest rate margins under the facility (ranging from 0.875% to 2.875% for Base Rate borrowings and
1.875% to 3.875% for LIBOR borrowings) are subject to adjustments based on the Total Leverage Ratio of the
Company, as such term is defined in the Credit Agreement. The initial pricing on this facility is LIBOR plus 2.875%,
which will vary depending on the leverage ratio, as described above. The maximum permitted leverage ratio is 4.5
times.