Frontier Gets Court Approval for Bankruptcy Exit Financing

Frontier Communications Corp.’s debtor-in-possession loan and plans for financing upon exit from bankruptcy were approved by a U.S. court Wednesday.

• The telecom company sought approval to borrow up to $5.9 billion across a term loan and new first-lien or second-lien notes to fund its exit from bankruptcy. It also sought to increase the size of its DIP revolving credit facility to $625 million from $460 million
• The motion was unopposed by other stakeholders and approved by Judge Robert Drain
• Previously: Frontier Bankruptcy Plan Gets Court Nod Over Creditor Objections
• The case is Frontier Communications Corp., 20-22476, U.S. ...