Windstream Holdings Inc. (fka WINMQ)

[Nightdaytrader]

Junior Bondholders are wiped out but where does it say shareholders are wiped out? Why would they mention junior bondholders but not shareholders?

********************
Windstream restructuring gets court approval

Jun. 25, 2020 4:52 PM ET
|About: Uniti Group Inc. (UNIT)|By: Jason Aycock, SA News Editor

Windstream Holdings' (OTCPK:WINMQ) restructuring plan has been approved in court, and the company now expects to emerge from Chapter 11 bankruptcy in August as a privately held company, with the backing of Elliott Management.

That will result in cutting debt by more than $4B (about two-thirds) - wiping out junior bondholders - and gaining access to about $2B in new investment capital.

“We look forward to beginning this new chapter for Windstream," says CEO/President Tony Thomas. "When we emerge, our lenders will become our new owners and strategic partners and are aligned with our long-term strategy and mission to deliver quality and reliable services. As a private company, Windstream will have increased flexibility to invest in our network, accelerate our transformation and return to growth."

An interested party: Uniti Group (NASDAQ:UNIT); settling a lease dispute between the two is key to Windstream's new strategy.

https://seekingalpha.com/news/3586337-windstream-restructuring-gets-court-approval