METROMEDIA FIBER NETWORK (MFNX) Message Board

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Technology Stocks : METROMEDIA FIBER NETWORK (MFNX)

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To: PaperChase who wrote (689)	11/10/1999 2:24:00 PM
From: MangoBoy	Read Replies (1) of 1983

[Metromedia Fiber debt deal upsized] NEW YORK, Nov 10 (Reuters) - Telecoms infrastructure provider, Metromedia Fiber Network Inc.'s $600 million (US$ equivalent) multi-currency debt offering was increased to approximately $1.0 billion in size on Wednesday, said lead manager Salomon Smith Barney. The deal, will now include a $700 million to $800 million 10-year senior note tranche as well as a euro 200 million to 300 million 10-year senior note tranche, the underwriter said. The B2/B-plus rated issues are callable after five years and will feature a three-year equity call. The issues are seen pricing at a yield of 10-10.25 percent on Friday, market players said. Metromedia, which designs and builds high-capacity fiber-optic networks for telecoms carriers, corporate and government customers, will use proceeds from the bond to finance capital expenditures.

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