Frontier Communications Corporation · Corporate

Frontier Communications Corporation: bankruptcy, 2020

Frontier Communications Corporation: bankruptcy credit event on 2020-04-14, worked through from its SEC filings. The 8.000% First Lien Secured Notes due 2027 (CUSIP 35906ABC1) are a Deliverable Obligation: all 7 checks pass. Each result cites the clause behind it, or says when it rests on the absence of a clause.

1 instrument · 8 questions · 2 documents

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Verified answerFrontier Communications Corporation · Bankruptcy · 2020

Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?

Yes, deliverable

8.000% First Lien Secured Notes due 2027 pass all 7 checks, each tied to its clause.

7 of 7 checks pass

See the 7 checks

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Verified outcome

EligibleIs the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?

Basis. All 7 checks pass on the record: the issuer is the Reference Entity, the instrument meets the Maximum Maturity, Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics, and it is Not Contingent.

Source clauses

Indenture of 2019-03-15

Exhibit C Form of Security Agreement Additional Pari Passu Joinder
DEFINITIONS
DEFINITIONS
Section 1.03 Rules of Construction . For all purposes of
Section 3.01 Title and Terms . The aggregate principal
Section 3.02 Denominations . The Notes shall be issuable
Section 3.02 Denominations . The Notes shall be issuable
Section 9.01 Guarantee . Subject to the provisions of
EXHIBIT A

For 8.000% First Lien Secured Notes due 2027

Reference entity: Frontier Communications Corporation
Credit event: Bankruptcy · 2020-04-14
Entity type: Corporate
Documents: 2 in the record

Instruments

Each obligation has its own page with terms and questions.

8.000% First Lien Secured Notes due 2027Eligible
Frontier Communications Corporation · CUSIP 35906ABC1
8 questions

Questions and verified answers

Open a question for the verified answer, its basis and how it was checked. Clause links open the documents below.

#1 Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?
Eligible
Indenture of 2019-03-15
#2 Does the instrument meet the Maximum Maturity characteristic (30 years)?
Yes
Indenture of 2019-03-15
- Section 3.01 Title and Terms . The aggregate principal
- EXHIBIT A
#3 Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)?
Yes
Indenture of 2019-03-15
- DEFINITIONS
- Section 1.03 Rules of Construction . For all purposes of
#4 Does the instrument meet the Not Subordinated characteristic?
Yes
Indenture of 2019-03-15
- DEFINITIONS
- Section 9.01 Guarantee . Subject to the provisions of
#5 Does the instrument meet the Not Bearer characteristic?
Yes
Indenture of 2019-03-15
- Section 3.02 Denominations . The Notes shall be issuable
- Section 3.02 Denominations . The Notes shall be issuable
#6 Is the instrument Not Contingent (principal not reducible for a reason other than payment)?
Yes
None: no clause making principal contingent was found.
#7 Does the instrument meet the Transferable characteristic?
Yes
None: no clause restricting transfer was found.
#8 Is the issuer of the instrument the Reference Entity?
Yes
Indenture of 2019-03-15
- Exhibit C Form of Security Agreement Additional Pari Passu Joinder
- EXHIBIT A

#	Question	Verified answer	Source clauses
1	Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent? Deliverability	Eligible	Indenture of 2019-03-15 Exhibit C Form of Security Agreement Additional Pari Passu Joinder DEFINITIONS DEFINITIONS Section 1.03 Rules of Construction . For all purposes of Section 3.01 Title and Terms . The aggregate principal Section 3.02 Denominations . The Notes shall be issuable Section 3.02 Denominations . The Notes shall be issuable Section 9.01 Guarantee . Subject to the provisions of EXHIBIT A
2	Does the instrument meet the Maximum Maturity characteristic (30 years)? Deliverable Obligation Characteristic	Yes	Indenture of 2019-03-15 Section 3.01 Title and Terms . The aggregate principal EXHIBIT A
3	Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)? Deliverable Obligation Characteristic	Yes	Indenture of 2019-03-15 DEFINITIONS Section 1.03 Rules of Construction . For all purposes of
4	Does the instrument meet the Not Subordinated characteristic? Deliverable Obligation Characteristic	Yes	Indenture of 2019-03-15 DEFINITIONS Section 9.01 Guarantee . Subject to the provisions of
5	Does the instrument meet the Not Bearer characteristic? Deliverable Obligation Characteristic	Yes	Indenture of 2019-03-15 Section 3.02 Denominations . The Notes shall be issuable Section 3.02 Denominations . The Notes shall be issuable
6	Is the instrument Not Contingent (principal not reducible for a reason other than payment)? Additional check	Yes	None: no clause making principal contingent was found.
7	Does the instrument meet the Transferable characteristic? Deliverable Obligation Characteristic	Yes	None: no clause restricting transfer was found.
8	Is the issuer of the instrument the Reference Entity? Reference Entity	Yes	Indenture of 2019-03-15 Exhibit C Form of Security Agreement Additional Pari Passu Joinder EXHIBIT A

Documents

The case record. 9 sections support the verified answers.

DOC-1 Frontier 8-K filed 2020-04-15, Item 1.03 Bankruptcy, petition 2020-04-14excerpts
DOC-2 Indenture dated March 15, 2019, 8.000% First Lien Secured Notes due 2027 (EX-4.1)excerpts

Timeline

2019-03-15Indenture for the 8.000% First Lien Secured Notes due 2027 (filed as Exhibit 4.1).
2020-04-14Frontier Communications Corporation and certain subsidiaries file Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of New York.

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