Global Crossing Announces Proposed Private Offering of $650 Million of Its Senior Secured Notes Due 2015
FLORHAM PARK, N.J., Sept. 7 /PRNewswire-FirstCall/ -- Global Crossing Limited (Nasdaq: GLBC) announced today that it intends to offer $650 million of its senior secured notes due 2015 in a private placement to qualified institutional buyers in accordance with Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The purpose of the offering is to refinance Global Crossing's existing term loan facility, to fund the purchase of senior notes issued by GC Impsat Holdings I Plc and to raise capital for general corporate purposes.
The senior secured notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release, issued pursuant to Rule 135c under the Securities Act, shall not constitute an offer to sell or the solicitation of an offer to buy the senior secured notes, nor shall there be any sale of the senior secured notes in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Statements in this press release about expected future events are forward-looking and subject to risks and uncertainties that could cause the actual results to differ materially, including risks referenced from time to time in the Company's filings with the Securities and Exchange Commission. Global Crossing undertakes no duty to update information contained in this press release or in other public disclosures at any time.
