Frontier Communications 2014 Annual Report Download - page 79

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Additional information regarding our Senior Unsecured Debt at December 31, 2014 and 2013 is as
follows:
($ in thousands)
Principal
Outstanding
Interest
Rate
Principal
Outstanding
Interest
Rate
2014 2013
Senior Notes and Debentures Due:
5/1/2014 . . . . . . . . . . . . . . . . . . . . . . . . . . $ — — $ 200,000 8.250%
3/15/2015 . . . . . . . . . . . . . . . . . . . . . . . . . 105,026 6.625% 105,026 6.625%
4/15/2015 . . . . . . . . . . . . . . . . . . . . . . . . . 96,872 7.875% 96,872 7.875%
10/14/2016* . . . . . . . . . . . . . . . . . . . . . . . 402,500 3.045% (Variable) 460,000 3.045% (Variable)
4/15/2017 . . . . . . . . . . . . . . . . . . . . . . . . . 606,874 8.250% 606,874 8.250%
10/1/2018 . . . . . . . . . . . . . . . . . . . . . . . . . 582,739 8.125% 582,739 8.125%
3/15/2019 . . . . . . . . . . . . . . . . . . . . . . . . . 434,000 7.125% 434,000 7.125%
10/24/2019** . . . . . . . . . . . . . . . . . . . . . . 350,000 3.545% (Variable) — —
4/15/2020 . . . . . . . . . . . . . . . . . . . . . . . . . 1,021,505 8.500% 1,021,505 8.500%
7/1/2021 . . . . . . . . . . . . . . . . . . . . . . . . . . 500,000 9.250% 500,000 9.250%
9/15/2021 . . . . . . . . . . . . . . . . . . . . . . . . . 775,000 6.250% — —
4/15/2022 . . . . . . . . . . . . . . . . . . . . . . . . . 500,000 8.750% 500,000 8.750%
1/15/2023 . . . . . . . . . . . . . . . . . . . . . . . . . 850,000 7.125% 850,000 7.125%
4/15/2024 . . . . . . . . . . . . . . . . . . . . . . . . . 750,000 7.625% 750,000 7.625%
1/15/2025 . . . . . . . . . . . . . . . . . . . . . . . . . 775,000 6.875% — —
11/1/2025 . . . . . . . . . . . . . . . . . . . . . . . . . 138,000 7.000% 138,000 7.000%
8/15/2026 . . . . . . . . . . . . . . . . . . . . . . . . . 1,739 6.800% 1,739 6.800%
1/15/2027 . . . . . . . . . . . . . . . . . . . . . . . . . 345,858 7.875% 345,858 7.875%
8/15/2031 . . . . . . . . . . . . . . . . . . . . . . . . . 945,325 9.000% 945,325 9.000%
10/1/2034 . . . . . . . . . . . . . . . . . . . . . . . . . 628 7.680% 628 7.680%
7/1/2035 . . . . . . . . . . . . . . . . . . . . . . . . . . 125,000 7.450% 125,000 7.450%
10/1/2046 . . . . . . . . . . . . . . . . . . . . . . . . . 193,500 7.050% 193,500 7.050%
9,499,566 7,857,066
Subsidiary Debentures Due:
2/15/2028 . . . . . . . . . . . . . . . . . . . . . 200,000 6.730% 200,000 6.730%
10/15/2029. . . . . . . . . . . . . . . . . . . . 50,000 8.400% 50,000 8.400%
Total . . . . . . . . . . . . . . . . . . . . . $9,749,566 7.45%*** $8,107,066 7.78%***
* Represents borrowings under the 2011 CoBank Credit Agreement, as defined below.
** Represents borrowings under the 2014 CoBank Credit Agreement, as defined below.
*** Interest rate represents a weighted average of the stated interest rates of multiple issuances.
On June 2, 2014, the Company entered into a credit agreement with CoBank, ACB, as
administrative agent, lead arranger and a lender, and the other lenders party thereto, for a $350 million
senior unsecured delayed draw term loan facility (the 2014 CoBank Credit Agreement). The facility was
drawn upon closing of the Connecticut Acquisition with proceeds used to partially finance the
acquisition. The maturity date is the fifth anniversary of the draw date. Repayment of the outstanding
principal balance will be made in quarterly installments in the amount of $9 million, commencing one
full fiscal quarter after the draw date, with the remaining outstanding principal balance to be repaid on
the maturity date. Borrowings under the 2014 CoBank Credit Agreement will bear interest based on the
margins over the Base Rate (as defined in the 2014 CoBank 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 2014 CoBank Credit
Agreement. The interest rate on this facility at December 31, 2014 was LIBOR plus 3.375%.
F-18
FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements