Impsat plans tender offer for 6% convertibles

By Laura Lutz

Des Moines, Oct. 31 - Impsat Fiber Networks, Inc. plans to begin tender offers and consent solicitations for all of its outstanding series A 6% senior guaranteed convertible notes due 2011 and series B 6% senior guaranteed convertible notes due 2011 ahead of a planned merger with subsidiary of Global Crossing Ltd., according to an 8-K filing with the Securities and Exchange Commission.

The company will pay 101% of the principal amount for the notes.

Impsat will seek consents for amendments that will become active upon consummation of the merger.

The merger is contingent upon some conditions, including regulatory approvals.

Global Crossing is a Florham Park, N.J., provider of telecommunications services. Impsat is a Buenos Aires, Argentina, provider of private telecommunications network and internet services in Latin America.

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