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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 29, 1999
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Global Crossing Holdings Ltd.
(Exact name of registrant as specified in its charter)
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Bermuda 333-61457 98-0186828
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
Wessex House, 45 Reid Street
Hamilton, Bermuda HM12
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (441) 296-8600
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Item 5. Other Events
On October 29, 1999, Global Crossing Ltd., a Bermuda company ("Global
Crossing Ltd."), issued a press release, which is attached as Exhibit 99.1 to
this Form 8-K and is incorporated herein by reference.
On November 12, 1999, Global Crossing Ltd. issued a press release, which is
attached as Exhibit 99.2 to this Form 8-K and is incorporated herein by
reference.
On December 8, 1999, Global Crossing Ltd. issued a press release, which is
attached as Exhibit 99.3 to this Form 8-K and is incorporated herein by
reference.
Item 7. Financial Statement and Exhibits.
(c) Exhibits.
99.1 Press Release of Global Crossing Ltd., dated October 29,
1999.
99.2 Press Release of Global Crossing Ltd., dated November 12,
1999.
99.3 Press Release of Global Crossing Ltd., dated December 8,
1999.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
GLOBAL CROSSING HOLDINGS LTD.
Dated: December 8, 1999 By: /s/ Lorraine Dean
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Name: Lorraine Dean
Title: Secretary
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release of Global Crossing Ltd.,
dated October 29, 1999.
99.2 Press Release of Global Crossing Ltd.,
dated November 12, 1999.
99.3 Press Release of Global Crossing Ltd.,
dated December 8, 1999.
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Exhibit 99.1
GLOBAL CROSSING ANNOUNCES $1.0 BILLION
CONVERTIBLE PREFERRED STOCK OFFERING
HAMILTON, Bermuda--(BUSINESS WIRE)--Oct. 29, 1999--Global Crossing Ltd.
(Nasdaq:GBLX - news) announced today that it is in the process of completing its
offering of $1.0 billion aggregate liquidation preference of 6-3/8% cumulative
convertible preferred stock. The preferred stock will be convertible into common
stock of Global Crossing based upon a conversion price of $45.00 per share. The
preferred stock is expected to be issued on November 5, 1999. Global Crossing
has granted to the initial purchasers of the preferred stock an over-allotment
option to purchase an additional $150 million aggregate liquidation preference
of the preferred stock.
The net proceeds from the offering, anticipated to be $970 million assuming no
exercise of the over-allotment option, will be used by Global Crossing primarily
to fund further investments in fiber optic cable and telecommunications systems
and equipment, through both construction and acquisition, and for general
corporate purchases. The preferred stock has not been registered under the
Securities Act of 1933, as amended, and will be offered and sold pursuant to
Rule 144A under that Act.
Contact:
Global Crossing Ltd.
Jensen Chow, 310/385-5283 (Investors)
[email protected]
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or
Tom Goff, 310/385-5231 (Media)
[email protected]
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or
Sard Verbinnen & Co.
George Sard/Heather Reeves, 212/687-8080 (Media)
[email protected]
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Exhibit 99.2
GLOBAL CROSSING HOLDINGS ANNOUNCES THE
OFFERING OF $2 BILLION OF SENIOR NOTES
HAMILTON, Bermuda--(BUSINESS WIRE)--Nov. 12, 1999--Global Crossing Holdings
Ltd., a subsidiary of Global Crossing Ltd. (Nasdaq:GBLX - news), announced today
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that it is in the process of completing an offering of $1.1 billion in aggregate
principal amount of its Senior Notes Due 2009, and $0.9 billion in aggregate
principal amount of its Senior Notes Due 2006. The senior notes will be
guaranteed by Global Crossing Ltd. The senior notes are expected to be issued on
November 19, 1999, subject to market conditions.
The net proceeds from the offerings will be used by Global Crossing Holdings
primarily to refinance existing indebtedness consisting of term loans and
revolving loans under its corporate credit facility. The senior notes have not
been registered under the Securities Act of 1933, as amended, and will be
offered and sold pursuant to applicable exemptions from the registration
requirements under that Act.
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Contact:
Press contacts:
Heather Reeves (New York)
212/687-8080
[email protected]
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or
Tom Goff (Los Angeles, CA)
310/385-5231
[email protected]
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Exhibit 99.3
GLOBAL CROSSING LTD. ANNOUNCES LAUNCH OF
$500 MILLION CONVERTIBLE PREFERRED STOCK
OFFERING
HAMILTON, Bermuda--(BUSINESS WIRE)--Dec. 8, 1999--Global Crossing Ltd.
(Nasdaq:GBLX - news) announced today that it has launched an offering of $500
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million aggregate liquidation preference of cumulative convertible preferred
stock. The preferred stock will be convertible into common stock of Global
Crossing. The preferred stock will not be registered under the Securities Act of
1933 and may not be offered or sold in the United States absent registration or
an applicable exemption from registration requirements.
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Contact:
Investor contact:
Jensen Chow, 310/385-5283
Press contact:
Tom Goff, 310/385-5231
