Another extension, but the PR wording has changed from the last one - any guesses as to what it means, if anything?
Telegroup, Inc. Announces Extension of Loan From Foothill Capital Corporation
FAIRFIELD, Iowa--(BUSINESS WIRE)--Feb. 7, 1999--Telegroup, Inc. (Nasdaq: TGRP) today announced that it has received an extension until February 12, 1999 of its $25 million loan from Foothill Capital Corporation, and is in the process of seeking to obtain a longer term facility.
Telegroup provides national and international long distance telecommunications services, serving residential and small and medium-sized business customers in more than 200 countries worldwide. The company also provides value-added wholesale services to over 40 domestic and international telecommunications carriers. Telegroup operates a global, digital, facilities-based network, the Telegroup Intelligent Global Network (R), which consists of 25 Nortel GSP and Excel LNX voice switches in 12 countries, 23 Nortel Passport ATM switches, 6 enhanced services platforms, 26,000 miles of owned and leased capacity on digital fiber-optic cable links, and leased parallel data transmission capacity.
CONTACT: Stan Bierbrier, Treasurer, Telegroup, Inc.
515/472-5000
sbierbrier@telegroup.com
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