Frontier seeks to raise $2.5B to fund Verizon wireline purchases

Frontier Communications has launched a $450 million offering of its shares, and an offering of $1.75 billion of its preferred stock, all in an effort to raise $2.5 billion in cash for its proposed purchase of Verizon's wireline assets. As FierceTelecom points out, Frontier will grant a green shoe option of up to $75 million more worth of shares and up to $175 million more worth of mandatory convertible preferred stock for the action. You can read the full FierceTelecom summary of Frontier's financial moves here.

Suggested Articles

YouTube TV’s price hike gives cable operators breathing room to run the next big TV race, which will be fought and won on the TV UX battleground.

FuboTV grew its revenue and engagement despite the coronavirus-related sports shutdown.

Virtual MVPD FuboTV has raised another $20 million in funding as the service and its competitors like YouTube TV and Sling TV engage in a price war.