US IP solutions provider Global Crossing has made a private placement of US$150m in senior unsecured notes. The notes will yield 9% and are due in 2019.
The notes will be sold to qualified institutional investors and are expected to settle on 16 November…
US IP solutions provider Global Crossing has made a private placement of US$150m in senior unsecured notes. The notes will yield 9% and are due in 2019.
The notes will be sold to qualified institutional investors and are expected to settle on 16 November 2010.
Global Crossing intends to use the proceeds of the offering to refinance its 5% convertible senior notes due 2011 and to pay related premium, fees and expenses.
Goldman Sachs and Credit Suisse were the joint bookrunning managers.
The communications solutions provider acquired competitor Genesis Networks on 1 November in a US$27m deal. No external advisers were used by Global Crossing for this transaction.
