Frontier Communications Corporation · Bankruptcy · 2020

8.500% Second Lien Secured Notes due 2026

Frontier Communications Corporation · CUSIP 35906ABA5. 8 verified questions on this obligation.

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 2018-03-19

DEFINITIONS
DEFINITIONS
Section 1.03 Rules of Construction . For all purposes of this
Section 1.03 Rules of Construction . For all purposes of this
Section 1.03 Rules of Construction . For all purposes of this
GUARANTEE
Frontier Communications Corporation

Currency: USD
Final maturity: 2026-04-01
Seniority: Senior
Governing law: Not recorded
Form: Registered
Transferable: Yes (no contractual transfer restriction)
Coupon: 8.500%

Questions and verified answers

#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 2018-03-19
#2 Does the instrument meet the Maximum Maturity characteristic (30 years)?
Yes
Indenture of 2018-03-19
- Frontier Communications Corporation
#3 Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)?
Yes
Indenture of 2018-03-19
- DEFINITIONS
- Section 1.03 Rules of Construction . For all purposes of this
#4 Does the instrument meet the Not Subordinated characteristic?
Yes
Indenture of 2018-03-19
- DEFINITIONS
- GUARANTEE
#5 Does the instrument meet the Not Bearer characteristic?
Yes
Indenture of 2018-03-19
- Section 1.03 Rules of Construction . For all purposes of this
- Section 1.03 Rules of Construction . For all purposes of this
#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
No clause cited

#	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 2018-03-19 DEFINITIONS DEFINITIONS Section 1.03 Rules of Construction . For all purposes of this Section 1.03 Rules of Construction . For all purposes of this Section 1.03 Rules of Construction . For all purposes of this GUARANTEE Frontier Communications Corporation
2	Does the instrument meet the Maximum Maturity characteristic (30 years)? Deliverable Obligation Characteristic	Yes	Indenture of 2018-03-19 Frontier Communications Corporation
3	Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)? Deliverable Obligation Characteristic	Yes	Indenture of 2018-03-19 DEFINITIONS Section 1.03 Rules of Construction . For all purposes of this
4	Does the instrument meet the Not Subordinated characteristic? Deliverable Obligation Characteristic	Yes	Indenture of 2018-03-19 DEFINITIONS GUARANTEE
5	Does the instrument meet the Not Bearer characteristic? Deliverable Obligation Characteristic	Yes	Indenture of 2018-03-19 Section 1.03 Rules of Construction . For all purposes of this Section 1.03 Rules of Construction . For all purposes of this
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	No clause cited

Documents

Terms come from these documents. Fields the record omits show as not stated.

DOC-1 Frontier 8-K filed 2020-04-15, Item 1.03 Bankruptcy, petition 2020-04-14excerpts
DOC-2 Indenture dated March 19, 2018, $1,600,000,000 8.500% Second Lien Secured Notes due 2026 (EX-4.1)excerpts

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