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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
____
F-54
5. Long-term Debt and Capital Lease Obligations:
Long-term debt and capital lease obligations were as follows at December 31:
(Millions) 2012 2011
Issued by Windstream Corporation:
Senior secured credit facility, Tranche A2 – variable rates, due July 17, 2013 $ 19.5 $ 172.3
Senior secured credit facility, Tranche A3 – variable rates, due December 30, 2016 408.8 —
Senior secured credit facility, Tranche A4 – variable rates, due August 8, 2017 292.5 —
Senior secured credit facility, Tranche B – variable rates, due July 17, 2013 280.9 283.8
Senior secured credit facility, Tranche B2 – variable rates, due December 17, 2015 1,042.9 1,053.7
Senior secured credit facility, Tranche B3 – variable rates, due August 8, 2019 597.0 —
Senior secured credit facility, Revolving line of credit – variable rates, due December
17, 2015 — 920.0
Debentures and notes, without collateral:
2013 Notes – 8.125%, due August 1, 2013 800.0 800.0
2017 Notes – 7.875%, due November 1, 2017 1,100.0 1,100.0
2018 Notes – 8.125%, due September 1, 2018 400.0 400.0
2019 Notes – 7.000%, due March 15, 2019 500.0 500.0
2020 Notes – 7.750%, due October 15, 2020 700.0 700.0
2021 Notes – 7.750%, due October 1, 2021 450.0 450.0
2022 Notes – 7.500%, due June 1, 2022 500.0 500.0
2023 Notes – 7.500%, due April 1, 2023 600.0 600.0
Issued by subsidiaries of the Company:
Windstream Holdings of the Midwest, Inc. – 6.75%, due April 1, 2028 100.0 100.0
Cinergy Communications Company – 6.58%, due January 1, 2022 2.1 2.2
PAETEC 2017 Notes – 8.875%, due June 30, 2017 650.0 650.0
Debentures and notes, without collateral:
Windstream Georgia Communications LLC – 6.50%, due November 15, 2013 10.0 20.0
PAETEC 2015 Notes – 9.500%, due July 15, 2015 — 300.0
PAETEC 2018 Notes – 9.875%, due December 1, 2018 450.0 450.0
Capital lease obligations 30.7 51.2
Premium on long-term debt, net 62.1 97.2
8,996.5 9,150.4
Less current maturities (881.6)(213.7)
Total long-term debt and capital leases $ 8,114.9 $ 8,936.7
Weighted average interest rate 7.0% 7.5%
Weighted maturity 5.4 years 6.0 years
Senior Secured Credit Facilities
Effective August 8, 2012, we incurred new borrowings of $300.0 million of Tranche A4 senior secured credit facilities due
August 8, 2017 and $600.0 million of Tranche B3 senior secured credit facilities due August 8, 2019. The additional term loan
proceeds were used to repay our revolver borrowings and for general corporate purposes, thereby creating sufficient liquidity to
repay the 2013 debt maturities. Debt issuance costs associated with the new borrowings were $16.6 million, which were
recorded in other assets on the balance sheet and will be amortized into interest expense over the life of the borrowings.
Effective February 23, 2012, we amended and restated $150.4 million of the Tranche A2 senior secured credit facilities
outstanding to Tranche A3 and extended the maturity to December 30, 2016. In addition, we incurred new borrowings of
$280.0 million of Tranche A3 senior secured credit facilities, which will also be due December 30, 2016. Debt issuance costs