Windstream’s bonds ticked up this week as the company reported 2Q21 numbers in line with expectations and reaffirmed guidance, according to two sources familiar with the company. 

Adjusted EBITDAR totaled USD 423.5m for the quarter, compared to USD 415.9m in 2Q20, the sources continued. Revenue for the quarter totaled USD 1.121bn, compared to USD 1.176bn for the same period last year.

Consumer broadband subs increased by 9,500 during the quarter, the sources said.

As of 30 June, liquidity totaled USD 646m through USD 176.8m of cash and USD 469.2m of revolver availability, the sources said. As of 30 June, leverage totals 1.9x, they added. 

Windstream reaffirmed guidance for net subs as a gain of 60,000 for 2021. The company also guided to a decrease of 1% in adjusted EBITDAR.

The USD 1.4bn 7.75% senior secured notes due 2028 traded as high as 102.5 to yield 7.02% this week, compared to trades at 101.332 to yield 7.359%, according to MarketAxess. The notes have since settled slightly today at 102.125 to yield 7.126%. 

Windstream declined to comment. 

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