Primus gets no tenders under excess cash flow offer for 13% notes

By Susanna Moon

Chicago, May 18 - Primus Telecommunications Group, Inc. received no tenders under its excess cash flow offer to purchase up to 5,200 units representing $5.2 million of 13% senior secured notes due 2016 issued by Primus Telecommunications Holding, Inc. and Primus Telecommunications Canada Inc., according to a company news release.

The offer expired at 5 p.m. ET on May 17. It began on April 20.

As previously noted, the company was required under the indenture governing the 13% notes to make an offer to purchase the notes using 50% of its excess cash flow for the year ended Dec. 31, or $5.2 million, which was the tender offer amount.

Primus offered to pay a purchase price in cash equal to par plus accrued interest to the payment date.

Primus is a Mclean, Va.-based provider of integrated communications services.

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