Windstream Plan Support Agreement

Windstream Holdings, Inc., a FORTUNE 500 company, is a leading provider of advanced network communications and technology solutions. Windstream provides data networks, basic transportation, security, unified communications, and managed services to mid-sized, enterprise, and wholesale customers in the United States. The company also provides broadband, entertainment and security services to consumers and small and medium-sized businesses, especially in rural areas of 18 states. Services are delivered across multiple network platforms, including a national IP network, our proprietary cloud core architecture, and a local, long-range fiber optic network that spans approximately 150,000 miles. For more information, visit or Please visit our newsroom in or follow us on Twitter at @Windstream. LITTLE ROCK, Ark.–(BUSINESS WIRE)–Windstream announced today that it has entered into a plan support agreement (the “PSA”) with its first creditors on key terms of a full financial restructuring. The Company also announced that it has entered into a settlement agreement with Uniti Group Inc. to resolve the ongoing litigation between the two companies. Since the announcement of the amended SPA, Windstream has already significantly increased its support for its Chapter 11 reorganization plan. At that time, dozens of additional creditors committed to the amended LPS, representing claims of approximately $320 million over the $430 million cap.

Senior creditors, who hold more than 82% of Windstream`s first lien claims, now support the reorganization plan. “We were able to reach this important milestone thanks to the support of our financial stakeholders as well as our customers, suppliers and business partners. The court`s confirmation of our plan puts us on a definitive path out of the restructuring with a stronger balance sheet and a healthy liquidity position to continue investing in networks and software for the benefit of our clients,” said Tony Thomas, President and CEO of Windstream. “I want to thank the entire Windstream team for continuing to focus on our customers and relentlessly providing important communications services during the reorganization process. On February 25, 2019, Windstream voluntarily applied to the U.S. Bankruptcy Court for the Southern District of New York for a Chapter 11 reorganization (see “Windstream Holdings Files Chapter 11 Bankruptcy Filings, Commits to Continue Operations”). The company says psa will reduce its currently funded debt by more than $4 billion, allow for a “substantial reduction” in Windstream`s annual debt service obligations, and give it access to financing once it completes the Chapter 11 process. At the same time, the agreement with Uniti provides for the latter to agree to provide up to $1.75 billion in network investments for Windstream by 2030. Uniti also agreed to pay Windstream approximately $490 million and to acquire certain unused and unused fiber optic facilities from Windstream for an additional $285 million. These latter assets currently generate approximately $29 million in annual OIBDAR, Windstream claims. Windstream said it has entered into a Plan Support Agreement (PSA) with its early creditors that covers the main terms of a financial restructuring strategy.

The service provider says it has also reached an agreement with Uniti Group Inc. that resolves ongoing disputes between the two companies. With this evidence, Windstream hopes to file its Chapter 11 reorganization plan with the U.S. Bankruptcy Court by the end of the month. This announcement is for informational purposes only and does not constitute an offer to sell or buy or a solicitation of an offer to buy or sell any securities. Any offer, issue or sale of securities under the reorganization plan shall not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, that relate to activities, events or developments that we anticipate, believe or anticipate to occur in the future are forward-looking statements. These statements are based on certain assumptions based on management`s beliefs, estimates and beliefs as of the date of such statements with respect to future events and results.

When words such as “will be”, “potential”, “believe”, “estimate”, “intend”, “expect”, “may”, “should”, “anticipate”, “could”, “plan”, “predict”, “strategy”, “future” or their negatives or other words that express the uncertainty of future events or results are used in this press release, forward-looking statements are intended to be identified, although not all forward-looking statements contain such statements. identifying words. Forward-looking statements are subject to uncertainty and are subject to numerous risks and variables. Actual future events may differ materially from those expressed in these forward-looking statements as a result of a number of factors related to our Chapter 11 cases described in our Annual Report on Form 10-K and First Quarterly Report on Form 10-Q, available in 2019 on the SEC`s website under Although we believe that our forward-looking statements are based on reasonable assumptions, there can be no assurance that these assumptions are accurate or that any of these expectations (in whole or in part) will be met or prove to be correct. In light of the foregoing, events anticipated in our forward-looking statements may not materialize, and if any of these events occur, we may not have properly anticipated the timing or extent of their impact. Any forward-looking statement relates only to the date it is made and we assume no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. These cautionary statements qualify all forward-looking statements that are attributable to us or to persons acting on our behalf. Windstream expects to file its Chapter 11 reorganization plan with its proposed new capital structure with the court for approval as soon as possible, with the goal of working by the end of March.

The Company expects to exit the restructuring in the middle of the year, subject to the timing of judicial and regulatory approvals. Under the Uniti settlement agreement, Uniti has agreed to invest up to $1.75 billion in network investments for Windstream by 2030. .