Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2019

Long-Term Debt [Abstract]

Long-Term Debt

			For the nine months ended ‎September 30, 2019
			Principal						Interest Rate at
	January 1,		Payments				September 30,		September 30,
($ in millions)	2019		and Retirements		New Borrowings		2019		2019*
Secured debt issued by Frontier	$	5,246	$	(2,130)	$	2,599	$	5,715	7.35%
Unsecured debt issued by Frontier		11,297		(348)		-		10,949	9.63%
Secured debt issued by subsidiaries		107		(1)		-		106	8.36%
Unsecured debt issued by subsidiaries		750		-		-		750	6.90%
Total debt	$	17,400	$	(2,479)	$	2,599	$	17,520	8.76%
Less: Debt Issuance Costs		(178)						(174)
Less: Debt Discount		(50)						(47)
Less: Current Portion		(814)						(994)
Total Long-term debt	$	16,358					$	16,305

* Interest rate includes amortization of debt issuance costs and debt discounts. The interest rates at September 30, 2019 represent a weighted average of multiple issuances.

Senior Unsecured Debt

	September 30, 2019			December 31, 2018
	Principal		Interest	Principal		Interest
($ in millions)	Outstanding		Rate	Outstanding		Rate
Secured debt issued by Frontier
Term loan due 3/31/2021 (1)	$	-		$	1,402	5.280% (Variable)
Term loan due 10/12/2021(2)		-			239	7.405% (Variable)
Revolver due 2/27/2024 (3)		749	5.043% (Variable)		275	5.280% (Variable)
Term loan due 6/15/2024 (4)		1,703	5.800% (Variable)		1,716	6.280% (Variable)
First lien notes due 4/1/2027		1,650	8.000%		-
Second lien notes due 4/1/2026		1,600	8.500%		1,600	8.500%
IDRB due 5/1/2030		13	6.200%		13	6.200%
Equipment financings		-			1	0.000%
Total secured debt issued by Frontier		5,715			5,246
Senior notes due 3/15/2019		-			348	7.125%
Senior notes due 4/15/2020		172	8.500%		172	8.500%
Senior notes due 9/15/2020		55	8.875%		55	8.875%
Senior notes due 7/1/2021		89	9.250%		89	9.250%
Senior notes due 9/15/2021		220	6.250%		220	6.250%
Senior notes due 4/15/2022		500	8.750%		500	8.750%
Senior notes due 9/15/2022		2,188	10.500%		2,188	10.500%
Senior notes due 1/15/2023		850	7.125%		850	7.125%
Senior notes due 4/15/2024		750	7.625%		750	7.625%
Senior notes due 1/15/2025		775	6.875%		775	6.875%
Senior notes due 9/15/2025		3,600	11.000%		3,600	11.000%
Debentures due 11/1/2025		138	7.000%		138	7.000%
Debentures due 8/15/2026		2	6.800%		2	6.800%
Senior notes due 1/15/2027		346	7.875%		346	7.875%
Senior notes due 8/15/2031		945	9.000%		945	9.000%
Debentures due 10/1/2034		1	7.680%		1	7.680%
Debentures due 7/1/2035		125	7.450%		125	7.450%
Debentures due 10/1/2046		193	7.050%		193	7.050%
Total unsecured debt issued by Frontier		10,949			11,297
Secured debt issued by subsidiaries
Debentures due 11/15/2031		100	8.500%		100	8.500%
RUS loan contracts due 1/3/2028		6	6.154%		7	6.154%
Total secured debt issued by subsidiaries		106			107
Unsecured debt issued by subsidiaries
Debentures due 5/15/2027		200	6.750%		200	6.750%
Debentures due 2/1/2028		300	6.860%		300	6.860%
Debentures due 2/15/2028		200	6.730%		200	6.730%
Debentures due 10/15/2029		50	8.400%		50	8.400%
Total unsecured debt issued by subsidiaries		750			750
Total debt	$	17,520	8.522% (5)	$	17,400	8.411% (5)

⁽¹⁾ Represents borrowings under the JPM Credit Agreement Term Loan A, as defined below.

⁽²⁾ Represents borrowings under the 2016 CoBank Credit Agreement, as defined below.

⁽³⁾ Represents borrowings under the JPM Credit Agreement Revolver, as defined below.

⁽⁴⁾ Represents borrowings under the JPM Credit Agreement Term Loan B, as defined below.

⁽⁵⁾ Interest rate represents a weighted average of the stated interest rates of multiple issuances.

Debt Maturities by Year

($ in millions)	Principal payments
2019 (remaining three months)	$	4
2020	$	245
2021	$	327
2022	$	2,706
2023	$	868
Thereafter	$	12,621