SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF EARLIEST EVENT REPORTED: MAY 10, 1995
PEOPLES TELEPHONE COMPANY, INC.
(Exact name of registrant as specified in its charter)
NEW YORK 0-16479 13-2626435
(State or other juris- (Commission File (IRS Employer
diction of incorporation) Number) I.D. No.)
2300 N.W. 89TH PLACE, MIAMI, FLORIDA 33172
(Address of principal executive office) (Zip Code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (305) 593-9667
<PAGE>
Item 5. Other Events
Reference is made to the Company's press release dated May 10,
1995, attached hereto as Exhibit 99, which is being filed pursuant to Rule
135c(d) under the Securities Act of 1933, as amended.
Item 7. Exhibits
EXHIBIT
99. Press release dated May 10, 1995.
<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.
PEOPLES TELEPHONE COMPANY, INC.
Date: May 11, 1995 /s/ Bonnie S. Biumi
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Bonnie S. Biumi
Chief Financial Officer
Exhibit 99
PRESS RELEASE
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PEOPLES TELEPHONE COMPANY, INC.
2300 N.W. 89TH PLACE
MIAMI, FLORIDA 33172
(305) 593-9667
FOR IMMEDIATE RELEASE
CONTACT: ROBERT D. RUBIN, PRESIDENT OR
BONNIE BIUMI, CHIEF FINANCIAL OFFICER
(305) 593-9667, EXT. 131 OR 232
BRIAN JAMES
EDELMAN FINANCIAL
(212) 704-8111
PEOPLES TELEPHONE COMPANY, INC.
ANNOUNCES REFINANCING PLAN
Miami, Florida (May 10, 1995)--Peoples Telephone Company, Inc.
(Nasdaq:PTEL) announced today that it had commenced a private placement of
approximately $85,000,000 principal amount of Senior Notes due 2002. In
connection with the completion of the Senior Note offering, which is
expected to close by early June 1995, the Company will enter into a new
$40.0 million revolving credit facility. Proceeds from the sale of the
Notes, together with borrowings under the new credit facility, will be used
to refinance the existing $100 million credit facility, which is expected
to provide the Company with approximately $23 million undrawn and available
under the new credit facility. The Notes offered will not be registered
under the Securities Act and may not be offered or resold in the United
States absent registration or an applicable exemption from the registration
requirements. The Notes offering is conditioned upon the completion of the
new credit facility and the new credit facility is conditioned upon the
completion of the Notes offering. There can be no assurance that the
contemplated refinancing will be completed, or if completed, that it will
be on terms favorable to the Company.
Peoples Telephone Company, the nation's largest independent provider
of public pay telephone services, owns and operates in excess of 40,000
public pay telephones in 41 states.
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