Frontier expects to file for bankruptcy in March

20 Jan 2020

US fixed line operator Frontier Communications is asking creditors to assist with a turnaround deal that will include filing for bankruptcy by the middle of March, people with knowledge of the matter have informed Bloomberg. According to the news agency, company executives – including Bernie Han, Frontier’s new CEO – met with creditors and advisers last week and told them the company wants to negotiate a pre-packaged agreement before USD356 million of debt payments are due on 15 March. Certain Frontier creditors have signed confidentiality documents that restrict their ability to trade in preparation for the negotiations, Bloomberg adds.

Frontier’s debt pile is said to be in the region of USD17.5 billion and the process is expected to result in the biggest US telecoms debt load restructuring in nearly two decades.

United States, Frontier Communications