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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 6, 1997
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IXC Communications, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-20803 74-2644120
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
5000 Plaza on the Lake, Suite 200, Austin, Texas 78746
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (512) 328-1112
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Not applicable
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
Attached as Exhibit 99.1 is a press release issued by IXC
Communications, Inc. dated November 6, 1997 which is hereby incorporated by
reference herein.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(C) EXHIBITS
99.1 Press Release dated November 6, 1997
2.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: November 6, 1997
IXC Communications, Inc.
By: /s/ James F. Guthrie
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James F. Guthrie
Executive Vice President
and Chief Financial Officer
3.
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EXHIBIT INDEX
Exhibit
Number Description
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99.1 Press Release dated November 6, 1997
4.
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EXHIBIT 99.1
IXC NEWS RELEASE
IXC COMMUNICATIONS, INC. SUCCESSFULLY COMPLETES
EXCHANGE OFFER FOR SERIES 3 PREFERRED STOCK
AUSTIN, Texas, November 6, 1997 -- IXC Communications, Inc. announced today the
consummation of its offer (the "Exchange Offer") to exchange shares of its
Common Stock for all outstanding shares of its 10% Junior Series 3 Cumulative
Redeemable Preferred Stock ("Series 3 Preferred Stock") which expired by its
terms at 5:00 p.m., Austin, Texas time, on October 31, 1997 (the "Expiration
Date").
Each holder that tendered shares of Series 3 Preferred Stock will receive
approximately 49.85 shares of Common Stock for each share of Series 3
Preferred Stock tendered prior to the Expiration Date. The number of shares of
Common Stock issued for each share of Series 3 Preferred Stock was calculated
by dividing the aggregate per share liquidation preference of, and the accrued
and unpaid dividends on, one share of Series 3 Preferred Stock as of October
31, 1997, by $33.00 (the last reported sale price of the Company's Common
Stock on the Nasdaq National Market on October 31, 1997). The aggregate
liquidation preference and accrued and unpaid dividends on the Series 3
Preferred Stock at October 31, 1997, was approximately $20.6 million ($1,645
per share for the 12,550 shares outstanding).
Over 95% of the shares of Series 3 Preferred Stock were tendered prior to the
expiration of the Exchange Offer.
Austin, Texas-based IXC Communications, Inc. is one of the United States'
largest suppliers of voice, data and multimedia transmission services. The
Company owns and operates one of the newest nationwide digital networks and
makes network capacity available to local telephone companies, national and
regional long-distance carriers, cable and utility companies, and Internet
Service Providers. IXC offerings include private line, broadband, and switched
and dedicated inbound and outbound calling products, and calling card and debit
card services. IXC is a publicly traded company listed on Nasdaq under the
symbol IXC. IXC's Web site is located at www.ixc-comm.net.
Investor Contact: Media Contact:
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James F. Guthrie Meri Braziel
Executive Vice President Senior Vice President of Marketing
IXC Communications, Inc. IXC Communications, Inc.
(512) 427-3731 (512) 433-3535
jguthrie @ ixc-comm.net mbraziel @ ixc-comm.net
