Globix prepays $76 million 11% notes, $5.025 million 9% notes

By Jennifer Chiou

New York, Nov. 7 - Globix Corp. prepaid $76,165,002 of its 11% senior notes due 2008 and $5.025 million of its 9% senior notes due 2008, according to an 8-K filing with the Securities and Exchange Commission.

The New York provider of managed internet infrastructure services paid principal and accrued interest on the notes.

Globix added that it holds $3,158,437 in cash, which may be payable linked to an escrow arrangement established in 2002, and it is working with the 11% note trustee to determine how to dispose of any obligations under the escrow.

The company prepaid the 11% notes on Nov. 1 and the 9% notes on Oct. 20.

Globix also completed the sale of its interests in Globix Hosting, LLC for $20 million in cash on Nov. 1.

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