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) OCTOBER 1, 1999
-----------------
CORECOMM LIMITED
-------------------------------------------------
(Exact Name of Registrant as Specified in Charter)
Bermuda 0-24521 Not Applicable
- -------------------------------------------------------------------------------
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
Cedar House, 41 Cedar Avenue, Hamilton, Bermuda HM 12
- ------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including area code (441) 295-2244
----------------
-----------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Item 5. Other Events.
- ------- -------------
On October 1, 1999, CoreComm Limited announced that it priced a private
placement of $150 million 6% Convertible Subordinated Notes Due 2006 (the
"Convertible Notes"). CoreComm also granted an over-allotment option of an
additional $25 million of Convertible Notes in connection with the private
placement. The Convertible Notes are convertible into CoreComm common stock and
have a conversion price of $41.09 per share.
Item 7. Financial Statements and Exhibits.
- ------- ----------------------------------
Exhibits
99.1 Press Release, issued October 1, 1999
<PAGE>
SIGNATURES
----------
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 thereunto duly authorized.
CORECOMM LIMITED
(Registrant)
By: /s/ Richard J. Lubasch
--------------------------
Name: Richard J. Lubasch
Title: Senior Vice President,
General Counsel and Secretary
Dated: October 4, 1999
<PAGE>
EXHIBIT INDEX
-------------
Exhibit Page
- ------- ----
99.1 Press Release, issued October 1, 1999
Exhibit 99.1
CORECOMM LIMITED ANNOUNCES PRICING OF
CONVERTIBLE SUBORDINATED NOTES
New York, New York (October 1, 1999) - CoreComm Limited (NASDAQ:"COMM")
announced that it has priced a private placement of $150 million 6% Convertible
Subordinated Notes Due 2006 (the "Convertible Notes"). CoreComm also granted an
over-allotment option of an additional $25 million of Convertible Notes in
connection with the private placement. The Convertible Notes are convertible
into CoreComm common stock and have a conversion price of $41.09 per share. On
September 30, 1999, the last sale price of CoreComm common stock on the NASDAQ
National Market was $32 15/16 per share. The proceeds from the sale of the
Convertible Notes will be used for working capital and other general corporate
purposes. The Convertible Notes will not be and have not been registered under
the Securities Act of 1933, as amended (the "Securities Act"), or any state
securities laws, and unless so registered, may not be offered or sold except
pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable state securities
laws. Accordingly, the Convertible Notes will be offered and sold within the
United States only to "qualified institutional buyers" under Rule 144A and to a
limited number of "accredited investors."
*****
For further information contact: Michael A. Peterson, Vice President -
Corporate Development; Kathleen Makrakis, Director-Investor Relations or Richard
J. Lubasch, Senior Vice President - General Counsel (212)-906-8457
