0001282266-13-000010.txt : 20130108 0001282266-13-000010.hdr.sgml : 20130108 20130108172647 ACCESSION NUMBER: 0001282266-13-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20130108 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130108 DATE AS OF CHANGE: 20130108 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WINDSTREAM CORP CENTRAL INDEX KEY: 0001282266 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 200792300 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32422 FILM NUMBER: 13518984 BUSINESS ADDRESS: STREET 1: 4001 RODNEY PARHAM RD. CITY: LITTLE ROCK STATE: AR ZIP: 72212 BUSINESS PHONE: 5017487000 MAIL ADDRESS: STREET 1: 4001 RODNEY PARHAM RD. CITY: LITTLE ROCK STATE: AR ZIP: 72212 FORMER COMPANY: FORMER CONFORMED NAME: VALOR COMMUNICATIONS GROUP INC DATE OF NAME CHANGE: 20040326 FORMER COMPANY: FORMER CONFORMED NAME: VALOR TELECOMMUNICATIONS INC DATE OF NAME CHANGE: 20040301 8-K 1 a20130108form8-k.htm 8-K 2013.01.08 Form 8-K


 
 
 
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): January 8, 2013 (January 8, 2013)
WINDSTREAM CORPORATION
(Exact name of registrant as specified in its charter)
 
 
 
 
 
Delaware
 
001-32422
 
20-0792300
(State or other jurisdiction of
incorporation or organization)
 
(Commission
File Number)
 
(I.R.S. Employer
Identification No.)
 
 
 
 
 
4001 Rodney Parham Road,
Little Rock, Arkansas
 
 
 
72212
(Address of principal executive offices)
 
 
 
(Zip Code)
(501) 748-7000
Registrant’s telephone number, including area code
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 
 
 
 





Item 8.01. Other Events.
Offering of Senior Notes
On January 8, 2013, Windstream Corporation (“Windstream”) issued (i) a press release announcing its intention to offer in a private placement $700 million aggregate principal amount of senior unsecured notes due 2023 (the "Offering") and (ii) a press release announcing the pricing of the Offering. A copy of the press release announcing the proposed Offering is filed herewith as Exhibit 99.1 and a copy of the press release announcing the pricing of the Offering is filed herewith as Exhibit 99.2 and each is incorporated herein by reference.
Tender Offer and Consent Solicitation
On January 8, 2013, Windstream also announced that it had commenced a tender offer (the "Tender Offer") to purchase for cash any and all of the outstanding $650.0 million aggregate principal amount of 8.875% Senior Secured Notes due 2017 issued by PAETEC Holding Corp., a wholly-owned subsidiary of Windstream (the "Notes"). In conjunction with the Tender Offer, Windstream also commenced a solicitation of consents (the "Consent Solicitation") to amend the indenture governing the Notes to eliminate or modify certain restrictive covenants and other provisions contained in the indenture governing the Notes and to release all of the collateral securing obligations under the Notes.
A copy of the press release announcing the Tender Offer and Consent Solicitation, and which describes the Tender Offer and Consent Solicitation in greater detail, is hereby incorporated by reference and attached hereto as Exhibit 99.3.
Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits
Exhibit
Number
 
Description
 
 
 
Exhibit 99.1
 
Press Release announcing the proposed Offering, dated January 8, 2013.
Exhibit 99.2
 
Press Release announcing the pricing of the Offering, dated January 8, 2013.
Exhibit 99.3
 
Press Release announcing the Tender Offer and Consent Solicitation, dated January 8, 2013.





















SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
 
WINDSTREAM CORPORATION
 
 
 
By:
 
/s/ John P. Fletcher
Name:
 
John P. Fletcher
Title:
 
Executive Vice President and
General Counsel
January 8, 2013



























EXHIBIT INDEX
Exhibit
Number
 
Description
 
 
 
Exhibit 99.1
 
Press Release announcing the proposed Offering, dated January 8, 2013.
Exhibit 99.2
 
Press Release announcing the pricing of the Offering, dated January 8, 2013.
Exhibit 99.3
 
Press Release announcing the Tender Offer and Consent Solicitation, dated January 8, 2013.





































EX-99.1 2 exhibit991privateofferingpr.htm PRESS RELEASE ANNOUNCING THE PROPOSED OFFERING, DATED JANUARY 8, 2013 Exhibit 99.1 Private Offering PR


Exhibit 99.1

Windstream Announces Proposed Private Offering of $700 Million of Senior Notes Due 2023

LITTLE ROCK, Ark., Jan. 8, 2013 (GLOBE NEWSWIRE) -- Windstream Corp. (Nasdaq:WIN) ("Windstream") announced today that it intends to offer in a private placement $700 million aggregate principal amount of senior unsecured notes that will mature in 2023 and bear interest at a fixed rate. The offering is expected to be completed before the end of January 2013, subject to market and other conditions.

If the offering is successfully placed, Windstream intends to use the net proceeds of the offering, together with available cash, if required, to pay the consideration for the tender offer and consent solicitation announced by Windstream today to purchase for cash any and all of the outstanding $650 million aggregate principal amount of 8.875% Senior Secured Notes due 2017 (the "PAETEC Notes") issued by PAETEC Holding Corp., a wholly-owned subsidiary of Windstream, together with related fees and expenses. To the extent that holders of less than $650 million in aggregate principal amount of the PAETEC Notes tender their notes, Windstream intends to use the remaining net proceeds of the notes offering to either redeem all or a portion of the remaining outstanding PAETEC Notes or for general corporate purposes.

This news release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities of Windstream. The senior unsecured notes will be sold only to qualified institutional buyers in reliance on Rule 144A, and outside the United States in compliance with Regulation S under the Securities Act of 1933, as amended. The proposed issuance of the senior unsecured notes will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Windstream

Windstream Corp. (Nasdaq:WIN) is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas. Windstream has more than $6 billion in annual revenues and is listed on the S&P 500 index.

Forward-Looking Statements

Certain statements contained in this press release may constitute forward-looking statements. Forward-looking statements are subject to uncertainties that could cause actual future events and results to differ materially from those expressed in the forward-looking statements. These forward-looking statements, including with respect to Windstream's ability to complete the notes offering and tender offer and consent solicitation described in this press release, are based on estimates, projections, beliefs, and assumptions that Windstream believes are reasonable but are not guarantees of future events and results. Actual future events and results of Windstream may differ materially from those expressed in these forward-looking statements as a result of a number of important factors, including those described in filings by Windstream with the Securities and Exchange Commission, which can be found at www.sec.gov.
 

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Investor Relations Contact:
Mary Michaels, 501-748-7578
mary.michaels@windstream.com

Media Relations Contact:
David Avery, 501-748-5876
david.avery@windstream.com


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EX-99.2 3 exhibit992pricingpr.htm PRESS RELEASE ANNOUNCING THE PRICING OF THE OFFERING, DATED JANUARY 8, 2013 Exhibit 99.2 Pricing PR


Exhibit 99.2


Windstream Prices Private Offering of $700 million of 6.375% Senior Notes due 2023

LITTLE ROCK, Ark., Jan 8, 2013 (GLOBE NEWSWIRE) - Windstream Corp. (Nasdaq: WIN) ("Windstream") announced today the pricing of a private placement of $700 million aggregate principal amount of 6.375% senior unsecured notes due August 1, 2023, at an issue price of 100.00% to yield 6.374%. The offering is expected to settle on January 23, 2013, subject to customary closing conditions.

Windstream intends to use the net proceeds of the offering, together with available cash, if required, to pay the consideration for the tender offer and consent solicitation announced by Windstream today to purchase for cash any and all of the outstanding $650 million aggregate principal amount of 8.875% Senior Secured Notes due 2017 (the "PAETEC Notes") issued by PAETEC Holding Corp., a wholly-owned subsidiary of Windstream, together with related fees and expenses. To the extent that holders of less than $650 million in aggregate principal amount of the PAETEC Notes tender their notes, Windstream intends to use the remaining net proceeds of the notes offering to either redeem all or a portion of the remaining outstanding PAETEC Notes or for general corporate purposes.

This news release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities of Windstream. The senior unsecured notes will be sold only to qualified institutional buyers in reliance on Rule 144A, and outside the United States in compliance with Regulation S under the Securities Act of 1933, as amended. The proposed issuance of the senior unsecured notes will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Windstream

Windstream Corp. (Nasdaq:WIN) is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas. Windstream has more than $6 billion in annual revenues and is listed on the S&P 500 index.

Forward-Looking Statements

Certain statements contained in this press release may constitute forward-looking statements. Forward-looking statements are subject to uncertainties that could cause actual future events and results to differ materially from those expressed in the forward-looking statements. These forward-looking statements, including with respect to Windstream's ability to complete the notes offering and tender offer and consent solicitation described in this press release, are based on estimates, projections, beliefs, and assumptions that Windstream believes are reasonable but are not guarantees of future events and results. Actual future events and results of Windstream may differ materially from those expressed in these forward-looking statements as a result of a number of important factors, including those described in filings by Windstream with the Securities and Exchange Commission, which can be found at www.sec.gov.

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Investor Relations Contact:
Mary Michaels, 501-748-7578
mary.michaels@windstream.com

Media Relations Contact:
David Avery, 501-748-5876
david.avery@windstream.com


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EX-99.3 4 exhibit993tenderofferpr.htm PRESS RELEASE - TENDER OFFER AND CONSENT SOLICITATION, DATED JANUARY 8, 2013 Exhibit 99.3 Tender Offer PR


Exhibit 99.3


Windstream Commences Tender Offer and Consent Solicitation for 8.875% Senior Secured Notes due 2017 Issued by PAETEC Holding Corp.

LITTLE ROCK, Ark., Jan. 8, 2013 (GLOBE NEWSWIRE) -- Windstream Corp. (Nasdaq:WIN) (the "Company") announced today that it has commenced a tender offer to purchase for cash any and all of the outstanding $650 million aggregate principal amount of 8.875% Senior Secured Notes due 2017 issued by PAETEC Holding Corp., a wholly-owned subsidiary of the Company (the "Notes").
 
In conjunction with the tender offer, the Company also commenced a solicitation of consents to amend the indenture governing the Notes to eliminate or modify certain restrictive covenants and other provisions contained in the indenture governing the Notes and to release all of the collateral securing obligations under the Notes. The tender offer and consent solicitation are being made pursuant to the Company's Offer to Purchase and Consent Solicitation Statement (the "Offer to Purchase"), dated January 8, 2013, which sets forth a more comprehensive description of the terms of the offer.
 
Holders who properly tender and do not withdraw their Notes and deliver their consents to the proposed amendments on or prior to 5:00 p.m., New York City time, on January 22, 2013, unless extended or earlier terminated (the "Early Tender Deadline"), will be eligible to receive the total consideration, which includes a consent payment equal to $30.00 per $1,000 principal amount of the tendered Notes.
 
As more fully described in the Offer to Purchase, the total consideration for each $1,000 principal amount of Notes validly tendered and accepted for payment pursuant to the offer is the price equal to (i) the present value on the payment date following the Early Tender Deadline (the "Early Payment Date ") of $1,044.38 if such amount were to be paid on June 30, 2013 (the “Earliest Redemption Date”), and all scheduled interest payments on such principal amount from the Early Payment Date up to and including the Earliest Redemption Date, discounted to present value based on the fixed spread describe below, minus (ii) accrued and unpaid interest to, but not including, the Early Payment Date.

The total consideration for the Notes will be determined utilizing a fixed spread of 50 basis points over the bid-side yield on the 0.375% U.S. Treasury Note due June 30, 2013. The total consideration will be determined at 2:00 p.m., New York City time, on January 22, 2013, unless modified, based on a yield determined by the Treasury bid-side price reported by the Bloomberg Government Pricing Monitor, or any recognized quotation source selected by the Dealer Manager named below in its sole discretion, if the Bloomberg Government Pricing Monitor is not available or is manifestly erroneous. The detailed methodology for calculating the total consideration for validly tendered Notes is outlined in the Offer to Purchase, which is available from the Information Agent named below.
 
Holders who properly tender after the Early Tender Deadline but on or prior to the Expiration Date specified below will be eligible to receive the tender offer consideration, which equals the total consideration less the consent payment per $1,000 principal amount of the tendered Notes.
 

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In addition, all Notes accepted for payment will be entitled to receive accrued and unpaid interest in respect of such Notes from the last interest payment date prior to the applicable settlement date to, but not including, the applicable settlement date.
 
The tender offer will expire at midnight, New York City time, on February 5, 2013, unless extended or earlier terminated (the "Expiration Date"). Settlement for all Notes tendered on or prior to the Early Tender Deadline and accepted for payment is expected to occur on January 23, 2013, the first business day following the Early Tender Deadline on which all conditions to the tender offer have been satisfied or waived. Settlement for all Notes tendered after the Early Tender Deadline, but on or prior to the Expiration Date, is expected to occur promptly following the Expiration Date.
 
Consummation of the tender offer, and payment for the tendered notes, is subject to the satisfaction or waiver of certain conditions described in the Offer to Purchase, including the condition that the Company shall have completed a new debt offering and the Company shall have received sufficient net proceeds therefrom, together with available cash, if required, to fund the tender offer and consent solicitation and any related fees and expenses, the condition that the Company shall have received sufficient consents to effect the proposed amendments to the indenture governing the Notes, and other customary conditions. If any of the conditions are not satisfied, the Company is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered Notes and may even terminate the tender offer and consent solicitation. Subject to applicable law, the Company has reserved the absolute right, in its sole discretion, to at any time (i) waive any condition to the tender offer and (ii) amend any of the terms of the tender offer, including but not limited to the purchase price or the amount of the consent payment.
 
Holders may withdraw their tenders and revoke their consents at any time before 5:00 p.m. on January 22, 2013, unless extended.

Wells Fargo Securities, LLC is acting as dealer manager and solicitation agent (the "Dealer Manager") for the tender offer and the consent solicitation. The Tender Agent and Information Agent is D.F. King & Co., Inc.

Questions regarding the tender offer and consent solicitation should be directed to Wells Fargo Securities, LLC at (866) 309-6316 (toll-free) or (704) 410-4760 (collect). Requests for documentation should be directed to D.F. King & Co., Inc. at (800) 290-6426 (toll-free) or (212) 269-5550 (banks and brokers).
 
This press release does not constitute a notice of redemption under the optional redemption provisions of the indenture governing the Notes, nor does it constitute an offer to sell, or a solicitation of an offer to buy, any security. The tender offer and consent solicitation is made only by means of the Offer to Purchase and the related letter of transmittal. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.
 

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About Windstream

Windstream Corp. (Nasdaq:WIN) is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas. Windstream has more than $6 billion in annual revenues and is listed on the S&P 500 index.

Forward-Looking Statements

Certain statements contained in this press release may constitute forward-looking statements. Forward-looking statements are subject to uncertainties that could cause actual future events and results to differ materially from those expressed in the forward-looking statements. These forward-looking statements, including with respect to Windstream's ability to complete the tender offer and consent solicitation described in this press release, are based on estimates, projections, beliefs, and assumptions that Windstream believes are reasonable but are not guarantees of future events and results. Actual future events and results of Windstream may differ materially from those expressed in these forward-looking statements as a result of a number of important factors, including those described in filings by Windstream with the Securities and Exchange Commission, which can be found at www.sec.gov.
 
Investor Relations Contact:
Mary Michaels, 501-748-7578
mary.michaels@windstream.com

Media Relations Contact:
David Avery, 501-748-5876
david.avery@windstream.com



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