Frontier to Raise $2.5B in Equity to Fund Verizon Deal

Yield favorite Frontier Communications (FTR) announced today that it has registered to offer $750 million of common stock and $1.750 billion of mandatory convertible preferred stock. Proceeds will go mainly towards the purchase of Verizon (VZ) wireline assets in three states. Fitch Ratings issued a note Tuesday saying that it considers the equity offerings a positive [...]