Global Crossing completes private note offering
Global Crossing completes private offering of $750 million of senior notes
- On 3:39 pm EDT, Tuesday September 22, 2009
FLORHAM PARK, N.J. (AP) -- Global Crossing Ltd. said Tuesday it has completed a previously announced private offering of $750 million of 12 percent senior secured notes due 2015.
The long-distance data carrier said it plans to use net proceeds from the offering to refinance its existing term loan facility, fund the purchase of senior notes issued by GC Impsat Holdings I Plc and for general corporate purposes.
Shares of Global Crossing rose 41 cents, or 2.8 percent, to $14.85 in afternoon trading.
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