Frontier Communications announced it entered into a new $750 million revolving credit facility with JPMorgan as administrative agent, and the joint lead arrangers, joint bookrunners, syndication agent and joint documentation agents named therein.

The revolving credit facility is scheduled to mature on May 31, 2018. The facility replaces the Company’s existing revolving credit facility, which was scheduled to mature on November 3, 2016.

Frontier announced it also entered into a new $350 million senior unsecured delayed draw term loan facility with CoBank, ACB, as administrative agent, lead arranger and a lender.

The loan will be drawn upon closing of the company’s acquisition of AT&T’s wireline business, statewide fiber network, and U-verse video and satellite TV customers in Connecticut, which is expected in the fourth quarter of 2014. The proceeds of the term loans will be used to partially finance the acquisition.

“This is a very positive arrangement that provides financing for our pending acquisition on favorable terms and rates,” said John Jureller, EVP and CFO of Frontier. He added, “Our banks recognize our plans to capture the growth available through the Connecticut acquisition, and we appreciate the support of our existing and new relationship banks. As we’ve previously indicated, we expect to be in the public markets in the second or third quarter of 2014 for the remainder of the acquisition’s permanent financing in substitution of the previously committed bridge loan financing.”