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Global Crossing bought back £7 million secured notes on May 29
By Jennifer Chiou
New York, Sept. 3 - Global Crossing (UK) Telecommunications Ltd. announced that it repurchased £7 million of its senior secured notes due 2014, excluding accrued interest, on May 29.
On April 15, the company said it anticipated offering to purchase £7.4 million of the notes at par.
The company had said that it was required to make the offer within 120 days of Dec. 31, 2008, and the related purchases must be completed within 150 days of year-end 2008.
The London-based telecom company said it borrowed £10 million from GC Impsat to fund the repurchase and other working capital needs.
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