Jean,
Here is the news from late Friday...
Preferred Share Offering and $200 Million High Yield Debt Offering
HAMILTON, Bermuda, Jan. 28 /PRNewswire/ -- RSL Communications, Ltd.
(Nasdaq: RSLC) today announced that it has launched an offering of
$100 million aggregate liquidation preference of cumulative convertible
preferred shares. The preferred shares will be convertible into the Class A
common shares of RSL Communications and will accrue dividends at a rate to be
determined. The offering is expected to close by the end of February 2000.
The preferred shares have not been, and will not be, registered under the
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
requirements.
Concurrent with the preferred share offering, RSL Communications PLC, a
wholly-owned subsidiary of RSL Communications, is making an offering of
approximately $200 million (100 million U.S. dollars and 100 million Euros)
principal amount of Senior Notes due 2010, bearing interest at a rate to be
determined. The Senior Notes issue will be guaranteed by RSL Communications,
Ltd. The debt offering is expected to close by the end of February 2000 but
is conditioned upon the closing of the preferred share offering. The closing
of the preferred share offering is not conditioned on the closing of the debt
offering. These Senior Notes have not been, and will not be, registered under
the Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
requirements.
RSL Communications, Ltd., is a global integrated communications provider
with operations on five continents in 22 countries that account for 75 percent
of the world's telecommunications traffic. The company provides a broad array
of voice, data, Internet and other value added services for businesses,
consumers and other carriers worldwide. deltathree.com (Nasdaq: DDDC), a
subsidiary of the company, is a global provider of IP telephony services and
other enhanced, web-based communications services to individuals and
businesses worldwide with 45 points of presence in 29 countries. RSL COM is
headquartered in Hamilton, Bermuda with executive offices in New York City.
The web address is rslcom.com .
CONTACT: Jim Magrone of RSL Communications, Ltd., 212-891-7442,
Fax, 212-317-0060, jmagrone@rslcom.com.
SOURCE RSL Communications, Ltd.
-0- 01/28/2000
/CONTACT: Jim Magrone of RSL Communications, Ltd., 212-891-7442,
Fax, 212-317-0060, jmagrone@rslcom.com/
/Web site: rslcom.com /
(RSLC DDDC)
CO: RSL Communications, Ltd.; deltathree.com
ST: New York, Bermuda
IN: TLS
SU: OFR
MN-ML
-- CGF060 --
7192 01/28/2000 18:00 EST prnewswire.com |
