Windstream 2015 Annual Report Download - page 195
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
____
F-65
5. Long-term Debt and Lease Obligations, Continued:
In addition, certain of Windstream Services’ debt agreements contain various covenants and restrictions specific to the subsidiary
that is the legal counterparty to the agreement. Under Windstream Services’ long-term debt agreements, acceleration of principal
payments would occur upon payment default, violation of debt covenants not cured within 30 days, a change in control including
a person or group obtaining 50 percent or more of Windstream Services’ outstanding voting stock, or breach of certain other
conditions set forth in the borrowing agreements. Windstream Services and its subsidiaries were in compliance with these covenants
as of December 31, 2015.
Maturities for long-term debt outstanding as of December 31, 2015, excluding $4.6 million of unamortized net premium and $62.8
million of unamortized debt issuance costs, were as follows for the years ended December 31:
Year (Millions)
2016 $ 5.9
2017 910.0
2018 5.9
2019 560.5
2020 1,000.0
Thereafter 2,746.4
Total $ 5,228.7
Loss on Extinguishment of Debt
The net loss on extinguishment of debt was as follows for the year ended December 31:
(Millions) 2015
Senior secured credit facility borrowings:
Premium on early redemption $(6.6)
Third-party fees for early redemption (0.7)
Unamortized debt issuance costs on original issuance (8.6)
Loss on early extinguishment of senior secured credit facility borrowings (15.9)
2018 Notes:
Premium on early redemption (16.3)
Unamortized discount on original issuance (1.4)
Unamortized debt issuance costs on original issuance (4.0)
Loss on early extinguishment of 2018 Notes (21.7)
PAETEC 2018 Notes:
Premium on early redemption (22.2)
Unamortized premium on original issuance 16.9
Loss on early extinguishment of PAETEC 2018 Notes (5.3)
Partial repurchase of 2017, 2021, 2022 and 2023 Notes:
Discount on early repurchase 10.9
Unamortized net discount on original issuance (0.7)
Unamortized debt issuance costs on original issuance (3.2)
Gain on early extinguishment of partial repurchase of 2017,
2021, 2022 and 2023 Notes 7.0
Cinergy Communications Company Notes:
Premium on early redemption (0.5)
Loss on early extinguishment of Cinergy Communication Company Notes (0.5)
Total loss on early extinguishment of debt $(36.4)