Are Frontier’s Fickle Shareholders Still Fearful on the Future?

For the year-t0-date, Frontier Communications Corporation (NYSE:FTR) is down 14.94 percent. On May 17, the company announced it began a registered offering of $500 million for their 2021 senior notes. Frontier said it will use the proceeds to finance its cash offer up to $500 million to repurchase some of its outstanding 2014 8.25% Senior Notes and 2015 7.875% Senior Notes.

Frontier said if there’s a balance remaining after paying off the notes, it will be used to either fund general expenses or repay outstanding debts.

Moody’s gave the notes offering a Ba2 rating, according to NASDAQ.com.

With the proposed notes offerings, will Frontier’s (NYSE:FTR) largest shareholders cut their positions? 572 institutional firms indicated owning shares of Frontier Communications Corporation (NYSE:FTR) in Q1 2012. These firms reported owning a total of 609.997 million shares on 03/31/2012 . The shares closed at $4.17 on 03/31/2012.

Here are the ten largest positions in Frontier Communications Corporation at the end of March 31st, 2012.

Vanguard Group Inc held 56,241,966 shares on 03/31/2012 worth $234,529,003. This brought the portfolio total to 0.03%.

State Street Corp held 37,955,410 shares on 03/31/2012 worth $158,274,063. This brought the portfolio total to 0.02%.

Bank of New York Mellon Corp held 32,376,275 shares on 03/31/2012 worth $135,009,069. This brought the portfolio total to 0.05%.

Franklin Resources Inc held 29,063,901 shares on 03/31/2012 worth $121,196,469. This brought the portfolio total to 0.08%.

Blackrock Institutional Trust Company N.A. held 28,743,781 shares on 03/31/2012 worth $119,861,569. This brought the portfolio total to 0.03%.

Adage Capital Partners GP LLC held 26,605,100 shares on 03/31/2012 worth $110,943,269. This brought the portfolio total to 0.44%.

Tiger Global Management LLC held 24,000,000 shares on 03/31/2012 worth $100,080,002. This brought the portfolio total to 1.68%.

Jefferies Group Inc /DE/ held 23,780,000 shares on 03/31/2012 worth $99,163,000. This brought the portfolio total to 0.6%.

Fmr LLC held 21,254,257 shares on 03/31/2012 worth $88,630,253. This brought the portfolio total to 0.02%.

Fairfax Financial Holdings Ltd/ can held 18,620,000 shares on 03/31/2012 worth $77,645,401. This brought the portfolio total to 3.5%.

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