Global Crossing (UK) plans £52 million add-on to 11¾% senior secured notes due 2014 via ABN Amro

By Paul A. Harris

St. Louis, Dec. 14 - Global Crossing (UK) Finance plc disclosed in an 8-K document filed Thursday with the Securities and Exchange Commission that it expected to launch up to a £52 million add-on to its 11¾% senior secured notes due 2014.

ABN Amro will have the books for the Rule 144A and Regulation S transaction, according to market sources.

Proceeds will be used to acquire Fibernet and its subsidiaries from Global Crossing Acquisitions (UK) Ltd.

Global Crossing is a Florham Park, N.J., telecommunications services provider.

The original £105 million issue priced at 98.575 to yield 12% on Dec. 23, 2004 in a transaction that also saw the company price $200 million 10¾% notes due 2014.

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