SECURITIES AND EXCHANGE COMMISSION
FORM 8-K
Current Report
Pursuant to Section 13 or 15 (d) of the
Securities Exchanges Act of 1934
Date of Report (Earliest Event) May 28, 1998
Teleport Communications Group Inc.
(Exact Name of Registrant as specified in its Charter)
Delaware 0-20913 13-3173139
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(State or Other (Commission (IRS Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
437 Ridge Road, Executive Building 3, Dayton, New Jersey 08810
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code (732) 392-2000
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Item 5. Other Events
TELEPORT COMMUNICATIONS GROUP INC (TCG) ELECTS TO COMMENCE THE ACCRUAL OF CASH
INTEREST ON ITS 11 - 1/8% SENIOR DISCOUNT NOTES
DAYTON, N.J. -- Teleport Communications Group Inc. (Nasdaq/NM:TCGI) announced
today its election to commence the accrual and payment of cash interest on TCG's
11-1/8% Senior Discount Notes due July 1, 2007 (CUSIP No. 879463-AC-1). The
accrual of interest payments will begin on July 1, 1998 and cash interest will
be paid semi-annually beginning January 1, 1999. In addition, on July 1, 1998
the principal amount of the Notes will be reduced to the Accreted Value of $723
per $1,000 face amount of the securities. This election is in accordance with
the terms of the Notes and will not affect the original yield of the Notes. As
of July 1, 1998, investors will begin earning cash interest at the original
yield rather than continue accreting principal.
TCG is the nation's first and largest provider of competitive local
telecommunications services, selling both fiber optic and broadband wireless
facilities to serve information intensive businesses in 82 major metropolitan
markets with an array of advanced voice, data, video and Internet services.
Visit our web site at www.tcg.com.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has caused this report to be signed on its behalf of the undersigned,
thereunto duly authorized.
TELEPORT COMMUNICATIONS GROUP INC.
Dated: June 5, 1998 By: /s/ Maria Terranova-Evans
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Name: Maria Terranova-Evans
Title: Vice President and Controller
