GXS to repay floating-rate notes, some reset notes

By Jennifer Chiou

New York, May 23 - GXS Corp. plans to repay some of its and G International Inc.'s outstanding bonds with a new credit facility expected to launch Tuesday.

In addition to financing the acquisition of G International, the intended $405 million credit facility will be used to repay GXS' $105 million senior secured floating-rate notes and a portion of its senior subordinated reset notes.

GXS also announced an agreement with the holder of the reset notes to extend the maturity date to Sept. 27, 2012 and fix the interest rate at 12% per year from Sept. 27, 2003 through the date of the acquisition of G International. The rate will be between 12% and 15% per year from the acquisition onwards.

GXS, a provider of B2B e-commerce solutions, has headquarters in Gaithersburg, Md.

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