05:52 PM EDT, 06/06/2024 (MT Newswires) -- Frontier Communications Parent ( FYBR ) said Thursday its indirect subsidiary has priced an offering of $750 million of secured fiber network revenue term notes in three tranches.

The company said the notes, which have a weighted average yield of roughly 7.4%, will be secured by certain fiber assets and associated customer contracts of Frontier in North Texas and will qualify as green bonds.

Net proceeds will be used to repay debt and for general corporate purposes.

Frontier anticipates the offering to close by July 1.