NOT FOR DISTRIBUTION IN THE UNITED STATES
Hong Kong-- Media OutReach --June 10, 2013 -- Pacnet Limited ("Pacnet" or the "Company") today announced that it intends to offer senior secured guaranteed notes due 2018 (the "Notes") in a private placement. The offering will be made only to qualified institutional buyers in compliance with Rule 144A under the United States Securities Act of 1933, as amended (the "Securities Act"), and to persons outside the United States under and in compliance with Regulation S of the Securities Act.
The Company today also announced that it has commenced an offer to holders of its outstanding 9.25% Senior Secured Guaranteed Notes due 2015 (the "2015 Notes") to purchase for cash any and all Notes on the terms and conditions set forth in the Company's Offer to Purchase and Consent Solicitation Statement dated June 10, 2013. In conjunction with the tender offer, the Company is soliciting from Holders consents to certain proposed amendments to the indenture governing the 2015 Notes, which would eliminate substantially all of the restrictive covenants, certain events of default applicable to the 2015 Notes and certain other provisions in the indenture and the 2015 Notes.
The Company intends to use the net proceeds of the offering to fund the repurchase or redemption of the 2015 Notes and pay any related fees and expenses, including the payment of premiums in connection therewith. Any remaining proceeds are expected to be used for general corporate purposes.
Nothing in this announcement constitutes an offer to buy, or a solicitation of an offer to sell, securities in the United States or any other jurisdiction in which such offer or solicitation would be unlawful. Securities may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration pursuant to the U.S. Securities Act of 1933, as amended, or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about the Company and its management, as well as financial statements.
About Pacnet Pacnet is one of the leading providers of managed data connectivity solutions to major telecommunications carriers, large multinational enterprises and government entities in the Asia-Pacific region. Ownership of the region's most extensive high-capacity submarine cable systems with over 46,000 km of fiber and connectivity to interconnected data centers across 16 cities in the Asia-Pacific region gives Pacnet unparalleled reach to major business centers in key markets including China, India, Japan and the United States. Combined with a comprehensive set of managed network and value-added data center services, its assets and experience in the region have helped Pacnet service large businesses worldwide including Fortune 500 companies. Pacnet is headquartered in Hong Kong and Singapore, with offices in the Asia-Pacific region and North America. For more information, please visit: www.pacnet.com.
11 March 2015
11 March 2015