Windstream Holdings II, LLC, announced the completion of a new $250 million Super Senior Incremental Term Loan as well as a refinancing of its existing revolver that will extend the revolver maturity to 2027 from 2024. In conjunction with the two transactions, the company's existing term loan is being transitioned from a London Interbank Offered Rate (LIBOR)-based interest calculation to a Secured Overnight Financing Rate (SOFR)-based interest calculation. As part of the transactions, the company is paying down its outstanding revolver balance of approximately $115 million as of September 30, 2022, and the amended revolver will have $500 million of capacity through September 2024 and $475 million of capacity through January 2027.

To date, Windstream has secured $295 million in funding commitments from governmental agencies that will help it deliver fiber broadband to over 140,000 locations. That drives the company's net cost per fiber location to approximately $1,000 in high-cost areas and represents a very attractive ROI for the business.