Frontier Kicks Off $1.65 Billion Debt Sale to Exit Bankruptcy

Frontier Communications Corp. is kicking off a $1.65 billion debt sale to help finance its exit from bankruptcy, a major step in its efforts to emerge from Chapter 11 by early next year.

The wireline provider is selling $1.15 billion of secured notes due 2027 as well as a $500 million seven-year term loan, according to people with knowledge of the matter, who asked not to be identified as the details are private.

The proceeds will repay Frontier’s outstanding bonds due 2027, according to a statement, and both of the debt sales are expected to wrap up Thursday, ...