Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2022



			For the nine months ended September 30, 2022
			Principal
	January 1,		Payments		New		September 30,
($ in millions)	2022		and Retirements		Borrowings		2022

Secured debt issued by Frontier	$	6,927	$	(11)	$	1,200	$	8,116
Secured debt issued by subsidiaries		100		-		-		100
Unsecured debt issued by subsidiaries		750		-		-		750
Principal outstanding	$	7,777	$	(11)	$	1,200	$	8,966

Less: Debt Issuance Costs		(13)						(29)
Less: Current Portion		(15)						(15)
Plus: Unamortized fair value adjustments ⁽¹⁾		219						198
Total Long-term debt	$	7,968					$	9,120

(1)Upon emergence, we adjusted the carrying value of our debt to fair value. The adjustment consisted of the elimination of the existing unamortized debt issuance costs and unamortized discounts and recording a balance of $236 million as a fair value adjustment. The fair value accounting adjustment is being amortized into interest expense using the effective interest method.

Schedule Of Secured And Unsecured Debt


	September 30, 2022			December 31, 2021
	Principal		Interest	Principal		Interest
($ in millions)	Outstanding		Rate	Outstanding		Rate

Secured debt issued by Frontier
Term loan due 10/8/2027	$	1,453	6.063% (Variable)	$	1,464	4.500% (Variable)
First lien notes due 10/15/2027		1,150	5.875%		1,150	5.875%
First lien notes due 5/1/2028		1,550	5.000%		1,550	5.000%
First lien notes due 5/15/2030		1,200	8.750%		-	n/a
Second lien notes due 5/1/2029		1,000	6.750%		1,000	6.750%
Second lien notes due 11/1/2029		750	5.875%		750	5.875%
Second lien notes due 1/15/2030		1,000	6.000%		1,000	6.000%
IDRB due 5/1/2030		13	6.200%		13	6.200%
Total secured debt issued by Frontier		8,116			6,927

Secured debt issued by subsidiaries
Debentures due 11/15/2031		100	8.500%		100	8.500%
Total secured debt issued by subsidiaries		100			100

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

Principal outstanding	$	8,966	6.366% ⁽¹⁾	$	7,777	5.702% ⁽¹⁾

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

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details