Frontier to Skip April 1 Debt Payment Ahead of Bankruptcy Filing

Frontier Communications Corp. said it would skip a $6.8 million payment due April 1 on some of its debt as it negotiates with its creditors toward a bankruptcy filing, according to its year-end financial results.

• The telecom company said it expects its board of directors to change “significantly” upon emergence from Chapter 11 bankruptcy, according to the filing
• Frontier expects to secure a debtor-in-possession loan when it files to restructure its $17.5 billion of debt
  • Frontier triggered a 60-day grace period on some of its debt after it skipped a March 16 payment
  • The company continues to negotiate with ...