| An SI Board Since June 1999 |
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VRSA |
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VersaTel Telecom Files For Initial Public Offering of Ordinary Shares and Concurrent Senior Notes Offering
Amsterdam, June 23, 1999 - VersaTel Telecom International N.V., a rapidly growing, facilities-based, competitive provider of voice, data and Internet services in the Benelux, today announced that it has filed registration statements with the Securities and Exchange Commission for the initial public offering of its Ordinary Shares and the issuance of Senior Notes. It is anticipated that the Ordinary Shares will trade on the Nasdaq National Market and the Amsterdam Stock Exchange under the symbol "VRSA."
Net proceeds from the concurrent offering will be used to repay interim loans incurred in connection with the acquisition of Svianed, as well as to fund capital expenditures for the expansion of the Company's network and for acquisitions, working capital and other general corporate purposes. The offering of Ordinary Shares will be managed by Lehman Brothers, ING Barings, Bear Stearns, Hambrecht & Quist, Paribas and E*Trade. The offering of Senior Notes will be managed by Lehman Brothers and ING Barings.
VersaTel Telecom International N.V. is a rapidly growing, facilities-based, competitive network operator primarily focused on the Benelux, which consists of The Netherlands, Belgium and Luxembourg, and is based in Amsterdam. Among the fastest growing enterprises in the region, VersaTel's vision is to become the leading fully integrated provider of local access, facilities-based broadband services, including voice, data and Internet services for businesses in the densely populated, high-income Benelux countries. Founded in October 1995, the Company holds full telecommunications licenses in Netherlands and Belgium and has over 13,500 business customers and 375 employees. VersaTel is currently building a world-class broadband network to provide business customers in the Benelux with high bandwidth voice, data and Internet services equal to those enjoyed by large multi-nationals. News and information are available at versatel.com.
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