December 26, 2014 11:58 AM ET

Diversified Telecommunication Services

Company Overview of PAETEC Holding Corp.

Company Overview

PAETEC Holding Corp. through its subsidiaries, provides integrated broadband communications services to business and end-user customers primarily in the United States. The company offers network services, including local telephone services and domestic and international long distance services; and data services comprising broadband Internet access services, virtual private network services, and Internet security services. It also provides voice services, such as dial tone, directory assistance, call forwarding, and call hunting; switched and dedicated long distance services; and audio and Web conferencing services. In addition, the company offers switched and dedicated access services, as we...

One PAETEC Plaza

600 Willowbrook Office Park

Fairport, NY 14450

United States

Founded in 1998

4,639 Employees

Phone:

585-340-2500

Fax:

585-340-2801

Key Executives for PAETEC Holding Corp.

Senior Vice President and President of the East Region
President of the West Region
Senior Vice President of Network Services
Executive Vice President of Network Operations and Service Delivery
Senior Vice President of Managed Services Operations
Compensation as of Fiscal Year 2014.

PAETEC Holding Corp. Key Developments

Windstream Announces Completion of Its Tender Offer and Consent Solicitation for 8.875% Senior Secured Notes Due 2017 Issued by PAETEC Holding Corp

Windstream Corp. announced the final settlement of its previously announced tender offer and solicitation of consents for any and all of the outstanding 8.875% Senior Secured Notes due 2017 issued by PAETEC Holding Corp., a wholly-owned subsidiary of the company. The tender offer expired at midnight, New York City time, on February 5, 2013. The company has been advised by the information agent that as of the Expiration Date, a total of approximately $588.5 million aggregate principal amount of the outstanding Notes (representing approximately 90.5% of the $650.0 million aggregate principal amount of Notes outstanding prior to the commencement of the tender offer and consent solicitation) had been tendered, including the approximately $583.3 million aggregate principal amount of Notes previously accepted by the company on January 23, 2013. The company previously announced the completion of its solicitation of consents for certain proposed amendments to eliminate or modify certain restrictive covenants and other provisions contained in the indenture governing the Notes and to release all of the collateral securing obligations under the Notes. As previously announced, the company received the requisite consents to the Proposed Amendments, including the release of the collateral, and, as a result, entered into a supplemental indenture, dated as of January 23, 2013, to effect such Proposed Amendments. Holders of Notes who properly tendered after 5:00 p.m., New York City time, on January 22, 2013 and at or prior to the Expiration Date received $1,050.17 per $1,000 in principal amount of Notes, plus accrued and unpaid interest from the last interest payment date to, but not including, the final settlement date, which occurred today. Following the completion of the tender offer, approximately $61.5 million aggregate principal amount of Notes remain outstanding. PAETEC has called for redemption all of the Notes that remain outstanding following consummation of the tender offer and consent solicitation at a price equal to 100% of the principal amount thereof plus an "applicable premium" in accordance with the terms of the Indenture, plus accrued and unpaid interest to, but excluding, the date of redemption. Redemption of the approximately $61.5 million aggregate principal amount of Notes that remain outstanding is expected to occur on February 25, 2013.

PAETEC Holding Corp. Announces Early Settlement of Tender Offer and Consent Solicitation for 8.875% Senior Secured Notes Due 2017

Windstream Corp. announced the early settlement of its previously announced tender offer and solicitation of consents for any and all of the outstanding $650 million aggregate principal amount of 8.875% Senior Secured Notes due 2017 issued by PAETEC Holding Corp. As part of its previously announced tender offer, the company solicited consents from the holders of the Notes for certain proposed amendments that would eliminate or modify certain restrictive covenants and other provisions contained in the indenture governing the Notes and to release all of the collateral securing obligations under the Notes. Adoption of the Proposed Amendments required consents from holders of a majority (and in certain cases, at least 66 2/3%) in aggregate principal amount of the outstanding Notes. The company has received the requisite consents in the consent solicitation to execute a supplemental indenture to effect the Proposed Amendments, including the release of the collateral, pursuant to its Offer to Purchase and Consent Solicitation Statement, dated January 8, 2013. As a result of receiving the requisite consents, the company entered into a supplemental indenture, dated as of January 23, 2013, to the Indenture to effect the Proposed Amendments, including the release of the collateral. The Proposed Amendments, including the release of the collateral, became effective upon entry into the supplemental indenture. As on January 22, 2013, approximately $583.3 million aggregate principal amount of the outstanding Notes representing approximately 89.7% of the outstanding Notes had been tendered. The company has exercised its option to accept for payment those Notes that were validly tendered at or prior to the Early Tender Deadline. Such Early Settlement occurred concurrently with the closing of the company's private offering of $700 million aggregate principal amount of 6.375% Senior Notes due 2023. Holders of Notes who properly tendered, did not withdraw their Notes and delivered their consents to the Proposed Amendments on or prior to the Consent Expiration Date received the total consideration of $1,080.17 per $1,000 in principal amount of Notes, which included a consent payment equal to $30.00 per $1,000 principal amount of tendered Notes. The tender offer will expire at midnight, New York City time, on February 5, 2013, unless the tender offer is extended or earlier terminated. Under the terms of the tender offer, holders of Notes who properly tender after the Early Tender Deadline but on or prior to the Expiration Date, and whose Notes are accepted for purchase, will be eligible to receive the tender offer consideration of $1,050.17, which equals the total consideration less the consent payment equal to $30.00 per $1,000 principal amount of the tendered Notes. Other than in the limited circumstances set in the Offer to Purchase, tenders of Notes may not be withdrawn and consents may not be revoked following the Early Tender Deadline. In addition, all Notes accepted for payment will be entitled to receive accrued and unpaid interest in respect of such Notes from the last interest payment date prior to the applicable settlement date to, but not including, the applicable settlement date. The company intends to call for redemption all of the Notes that remain outstanding following consummation of the tender offer and consent solicitation at a price equal to 100% of the principal amount thereof plus an 'applicable premium' in accordance with the terms of the Indenture, plus accrued and unpaid interest to, but excluding, the date of redemption.

Windstream Corporation Commences Tender Offer and Consent Solicitation for 8.875% Senior Secured Notes Due 2017 Issued by PAETEC Holding Corp

Windstream Corporation announced that it has commenced a tender offer to purchase for cash any and all of the outstanding $650 million aggregate principal amount of 8.875% Senior Secured Notes due 2017 issued by PAETEC Holding Corp., a wholly-owned subsidiary of the company. In conjunction with the tender offer, the company also commenced a solicitation of consents to amend the indenture governing the Notes to eliminate or modify certain restrictive covenants and other provisions contained in the indenture governing the Notes and to release all of the collateral securing obligations under the Notes. The tender offer and consent solicitation are being made pursuant to the company's Offer to Purchase and Consent Solicitation Statement, dated January 8, 2013, which sets forth a more comprehensive description of the terms of the offer. Holders who properly tender and do not withdraw their notes and deliver their consents to the proposed amendments on or prior to 5:00 p.m., New York City time, on January 22, 2013, unless extended or earlier terminated, will be eligible to receive the total consideration, which includes a consent payment equal to $30.00 per $1,000 principal amount of the tendered notes.

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