Globix buys back $5.6 million 11% notes

New York, Dec. 18 - Globix Corp. said that it paid $5.6 million to buy back some of its 11% senior notes on Oct. 3.

The repurchase brings buybacks through Oct. 3 to a total of $25 million of principal amount and accrued interest, according to a filing with the Securities and Exchange Commission. In total the New York provider of managed internet applications and infrastructure services paid $20.1 million.

Interest on the notes is payable in kind through 2004.

As previously announced, Globix will also be using the expected $60 million proceeds from selling its property at 415 Greenwich St., New York, to Heritage Partners to buy back more of the 11% notes as well as pay the third-party investor in the Greenwich Street property and for working capital.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.