Why Windstream Holdings, Inc. Stock Jumped 10.2% Higher Today
Shares of Windstream Holdings (NASDAQ: WIN) briefly rose 10.2% higher on Friday, reaching that peak at 10:40 a.m. EST, before backing down to a smaller 8% gain. The regional telecom appears to be making headway on its plans to refinance its debt balances.
Image source: Windstream Holdings.
Windstream refinanced and restructured its $7.8 billion of long-term debt balances when it spun off what's now known as Uniti (NASDAQ: UNIT) in 2015. The covenant holders behind some of these debt papers have claimed that the Uniti spinout, which separated Windstream's networking assets into a stand-alone business, may have violated the terms of their debt agreements. Windstream is trying to refinance some of these debts again, and the only news this Friday was the postponement of two of these efforts.
Source: Fool.com
