|
Global Crossing Announces Close of Exchange Offer
London - September 21, 2007 -- Global Crossing (UK) Finance Plc ("GCUK Finance") today announced that it has completed the exchange offer for its 11.75 percent Sterling-denominated senior secured notes due in 2014 and issued on December 28, 2006.
GCUK Finance offered to exchange £52 million of its 11.75 percent Sterling-denominated senior secured notes due in 2014 and issued on December 28, 2006 (the "Original Notes") for an equivalent principal amount of newly issued 11.75 percent Sterling-denominated senior secured notes due in 2014 (the "Exchange Notes") that have been registered under the Securities Act of 1933, as amended (the "Securities Act"). The terms of the Exchange Notes are substantially identical to the Original Notes, except that the Exchange Notes have been registered under the Securities Act and do not have registration rights.
GCUK Finance reported that holders of £52,000,000, or 100 percent, of the outstanding aggregate principal amount of the Original Notes accepted the offer to exchange their notes as of the closing of the offer at 9:00 a.m. BST on Friday, September 21, 2007. GCUK Finance anticipates that the new Exchange Notes will be issued on September 21, 2007.
The Common Code and ISIN numbers for the newly issued Exchange Notes are 022661345 and XS0226613452, respectively.
This press release shall not constitute an offer to sell or the solicitation of an offer to purchase. No sale of these securities shall occur in any jurisdiction on which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of said jurisdiction.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the Exchange Notes to be issued in the exchange offer or passed upon the adequacy or accuracy of the prospectus used in connection with the exchange offer. Any representation to the contrary is a criminal offense.
ABOUT GLOBAL CROSSING
Global Crossing (NASDAQ: GLBC) provides telecommunications solutions over the world's first integrated global IP-based network. Its core network connects more than 320 cities in 31 countries worldwide, and delivers services to more than 600 cities in 60 countries and 6 continents around the globe. The company's global sales and support model matches the network footprint and, like the network, delivers a consistent customer experience worldwide.
Global Crossing IP services are global in scale, linking the world's enterprises, governments and carriers with customers, employees and partners worldwide in a secure environment that is ideally suited for IP-based business applications, allowing e-commerce to thrive. The company offers a full range of data, voice and security products, to approximately 40 percent of the Fortune 500, as well as 700 carriers, mobile operators and ISPs. Its Professional Services and Managed Solutions provide VoIP, security and network consulting and management services to support its Global Crossing IP VPN service and Global Crossing VoIP services. Global Crossing was the first -- and remains the only -- global communications provider with IPv6 natively deployed in both its private and public backbone networks.
Please visit www.globalcrossing.com or blogs.globalcrossing.com for more information about Global Crossing.
###
Statements in this press release about expected future events and financial results 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.
CONTACT GLOBAL CROSSING:
Press Contacts
Becky Yeamans
+ 1 973 937 0155
PR@globalcrossing.com
Jo Graves
Europe
+ 44 (0) 1256 858 403
EuropePR@globalcrossing.com
Analysts/Investors Contacts
Gino Mathew
+ 1 973 937 0133
glbc@globalcrossing.com
|