Tuesday February 22, 1:41 pm Eastern Time
Company Press Release
RSL Communications, Ltd. Announces Closing of $100 Million Convertible Preferred Share Offering and $200 Million High Yield Debt Offering
HAMILTON, Bermuda and NEW YORK--(BUSINESS WIRE)--Feb. 22, 2000--RSL Communications, Ltd. (Nasdaq:RSLC - news) today announced that it has closed an offering of $100 million aggregate liquidation preference of cumulative convertible preferred shares. The preferred shares are convertible into the Class A common shares of RSL Communications and will accrue dividends. 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.
In addition, RSL Communications PLC, a wholly-owned subsidiary of RSL Communications, has closed an offering of approximately $200 million (100 million U.S. dollars and 100 million Euros) principal amount of Senior Notes due 2010. The Senior Notes are guaranteed by RSL Communications, Ltd. and RSL COM U.S.A., Inc. 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 - news), 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. |
