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June 12, 2013 /PRNewswire/ -- EarthLink, Inc. ("EarthLink") announced today the expiration and final results of the previously announced cash tender offer (the "Tender Offer") to purchase any and all of the 10.5%
Senior Secured Notes due 2016 (CUSIP No. 45031TAR5) (the "ITC^DeltaCom Notes") of ITC^DeltaCom, Inc., EarthLink's wholly-owned subsidiary ("ITC^DeltaCom"). The Tender Offer expired on
June 11, 2013, at
New York City time (the "Expiration Date").
May 29, 2013 (the "Initial Settlement Date"), EarthLink made a payment in cash for all ITC^DeltaCom Notes tendered prior to
5:00 p.m., New York City Time, on
May 28, 2013 (the "Consent Expiration"). As of the Consent Expiration, EarthLink had received tenders with respect to
$129,672,000 aggregate principal amount of the ITC^DeltaCom Notes, all of which were accepted for payment. The holders of such ITC^DeltaCom Notes received
$1,000 principal amount validly tendered, which included a consent payment of
$1,000 of the ITC^DeltaCom Notes, plus accrued and unpaid interest up to, but not including, the Initial Settlement Date.
Between the Consent Expiration and the Expiration Date, EarthLink received no tenders of ITC^DeltaCom Notes. A total of
$162,628,000aggregate principal amount of the ITC^DeltaCom Notes remains outstanding.
Credit Suisse Securities (
USA) LLC is the Dealer Manager for the tender offer. Questions regarding the tender offer may be directed to Credit Suisse Securities (
USA) LLC at (800) 820-1653 (toll-free) and (212) 538-0083 (collect).
This press release does not constitute an offer to buy or the solicitation of an offer to sell any of the ITC^DeltaCom Notes or to buy or sell any other securities nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.