Clearnet Communications Inc. Plans to Raise Proceeds to Clearnet of Approximately Cdn. $100,000,000 From Sale of Canadian Dollar Senior Discounted Notes.NEW YORK--(BUSINESS WIRE)--Feb. 8, 1999--Clearnet Communications Inc. ("Clearnet") (TSE:NET) (ME:NET) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CLNTF) today announced that it plans to raise proceeds to Clearnet of approximately Cdn. $100,000,000 from the sale of Canadian dollar denominated senior discount notes due 2009 (the "Notes"). The Notes are being offered in Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. under a shelf prospectus filed in both countries. Proceeds of the offering will be used to fund a portion of Clearnet's capital expenditures related to the expansion of its digital wireless networks and negative EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become requirements related to the expected future expansion of Clearnet's digital subscriber base, and for general corporate and working capital purposes, which may include selective acquisitions of complementary businesses and may be used to repay amounts outstanding under vendor financing arrangements. The underwriting syndicate in respect of the Notes is being led by TD Securities (USA) Inc. and co-managed by RBC Dominion Securities
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