Windstream Holdings emerged from Chapter 11 restructuring as a privately held company, having reduced its debt by more than $4 billion, or approximately two-thirds, and gaining access to approximately $2 billion in new capital.
Windstream unveiled a new corporate logo and announced its commitment to three lines of business:
- Windstream Enterprise: Windstream’s nationwide, cloud-optimized network and award-winning software solutions – such as SD-WAN, UCaaS and OfficeSuite UC – help businesses across the U.S. manage today’s most complex IT and networking challenges through an industry-leading customer portal, WE Connect.
- Kinetic by Windstream: residential broadband with speeds up to 1 Gig, extensive TV & entertainment options, home network security, optimal Wi-Fi control and reliable voice services through a fiber-based network and 5G fixed wireless service. Small and midsize businesses can choose from cloud-based collaboration and communication tools along with wireless internet backup.
- Windstream Wholesale: nationwide optical transmission, providing flexible and customized high-capacity bandwidth and transport services to content and media providers, cloud and data center operators, international carriers, cable operators, wireless carriers, traditional network service providers, etc.
“Today marks the start of a new era for Windstream as an even stronger, more competitive company,” said Tony Thomas, president and chief executive officer of Windstream. “With the completion of our financial restructuring, we now have an enhanced balance sheet and a robust capital investment program to expand 1 Gig Internet service in rural America and maintain our product and software leadership in SD-WAN and UCaaS for enterprise customers. We are also pleased to continue our strategic partnership with Uniti Group and expand our mutually beneficial relationship. With the support of our new owners and current operational momentum, Windstream will continue advancing our long-term growth objectives while providing our customers with quality and reliable services.”
Mr. Thomas continued, “I would like to thank our customers, vendors and business partners for their ongoing support throughout this process. I would also like to extend my deepest gratitude to the Windstream team for their dedication to our customers and continued commitment to delivering essential telecommunications services during this unprecedented healthcare crisis.”