BROOKS FIBER PROPERTIES ANNOUNCES COMMITMENT FOR $250 MILLION BANK CREDIT FACILITY.ST. LOUIS--(BUSINESS WIRE)--July 18, 1997--Brooks Fiber Properties, Inc. (Nasdaq/NM:BFPT BFPT barrier-free proton transfer BFPT Brooks Fiber Properties, Inc. (stock symbol) BFPT boiler feed pump turbine BFPT Brouwer Fixed Point Theorem BFPT Bundesdeutsche Fachtagung für Plasmatechnologie BFPT Braque Francais de Petite Taille ), a nationwide provider of competitive local telecommunications services In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. , today announced a commitment from Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. Credit Partners LP to fully underwrite To insure; to sell an issue of stocks and bonds or to guarantee the purchase of unsold stocks and bonds after a public issue. The word underwrite has two meanings. a $250 million senior secured credit facility for the Company. Goldman, Sachs Credit Partners LP will serve as syndication See syndication format. agent and Bank Boston will serve as administrative agent. Commenting on the transaction, David L. Solomon, Brooks Fiber Properties' executive vice president and chief financial officer, commented, "We are very pleased to have completed this transaction, the proceeds of which will be used to fund the continued development of our business plan. Furthermore, we believe that the completion of a financing of this size and these terms demonstrate the confidence that the financial community has placed in Brooks Fiber's ability to execute its strategy. Based upon current rates, terms of the facility would enable the Company to borrow at or below 8%, further reducing the Company's overall borrowing costs to approximately 10%. This credit facility, in conjunction with a $250 million private placement of senior notes closed at the end of May, 1997, fully funds the Company's known capital needs in our current 44 markets." Brooks Fiber Properties, Inc., headquartered in St. Louis, Missouri Missouri, state, United States Missouri (mĭz  r`ē, –ə), one of the midwestern states of the United States. , is a leading full service provider of competitive local telecommunications services in cities across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . With networks operational or under construction in 44 U.S. cities, the company provides its customers with advanced and reliable high- capacity voice, video, data and other enhanced telecommunications services. You can now receive fax copies of recent Brooks Fiber news releases 24 hours a day by calling 1-888-329-2304 and or visit Brooks Fiber on the Internet at www.Brooks.net CONTACT: Brooks Fiber Properties, Inc. Waymon R. Tipton, 800/799-8914, ext. 313 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion