Bloomberg Law
March 31, 2020, 10:32 PM

Frontier to Skip April 1 Debt Payment Ahead of Bankruptcy Filing

Allison McNeely
Allison McNeely
Bloomberg News
Nicole  Bullock
Nicole Bullock
Bloomberg News

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 ...

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