Business

Windstream makes bond-related moves

Windstream, a Lexington local telephone provider, announced a series of bond-related moves Friday.

The company first announced a cash tender offer to purchase any and all of $400 million of 7.75-percent notes due in 2015 that were issued by its Valor Telecommunications Enterprises and Valor Telecommunications Finance subsidiaries. The offer expires at midnight Feb. 4. Windstream was formed in 2006 when Alltel spun off its land-line business and combined it with Valor Communications Group.

Windstream also announced that in order to pay the cash tender offer it will make available $200 million in 7.75-percent bonds due in 2020. The bonds are being issued as additional securities under an earlier announcement that saw the company issue $500 million in 7.75-percent notes due in 2020. The offering is expected to be done in late January.

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