Frontier Union Calls for Converting Unsecured Debt (Correct)

Frontier Communications Corp.’s largest union called for the struggling telecom company to adopt a restructuring plan that would free up funds for operations by converting most of its unsecured debt into stock.

The Communications Workers of America, which has about 8,500 Frontier employees across 18 states, said 80% of the company’s nearly $12 billion of unsecured <-bsp-bb-link state="{"bbHref":"bbg://securities/ftr%20us%20Equity/ddis","_id":"00000170-6911-dd9a-a7fd-6f5543560001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">debt should be swapped for equity, according to comments on a conference call Thursday.

Such a restructuring would produce “billions of dollars” to fund improvements that the company desperately needs to make in its phone and broadband network, according to CWA analyst Randy ...