| Global Crossing to raise $US125 million |
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| by Stuart Corner | |
| Sunday, 14 May 2006 | |
  
Proceeds from the proposed offerings will be used for general corporate purposes, which may include the acquisition of assets or businesses that are complementary to Global Crossing's existing business, as well as to purchase a portfolio of US treasury securities to fund the first six interest payments on the notes and to pay fees and expenses related to the offerings. Neither of the offerings is contingent upon the consummation on consummation of the other. Global Crossing provides telecommunications services over an integrated global IP network. Its core network connects more than 300 cities in 29 countries and delivers services to more than 600 cities in 60 countries. The company offers a range of managed data and voice products including IP VPN, managed services and VoIP services, to 36 percent of the Fortune 500 and 700 carriers, mobile operators and ISPs. |
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