|By PR Newswire||
|December 7, 2012 07:40 AM EST||
MANILA, Philippines, Dec. 7, 2012 /PRNewswire/ -- Globe Telecom, Inc. ("Globe") announced today further preliminary results of its previously announced tender offers. These tender offers are: (i) for the 13.5% Senior Notes originally due 2006 (the "Notes") issued by Bayan Telecommunications, Inc. ("Bayantel"), its tender offer to purchase for cash any and all of the Notes (the "tender offer for the Notes"); and (ii) for the outstanding loans made to Bayantel (the "BTI Loans") and to Radio Communications of the Philippines, Inc. (the "RCPI Loans" and together with the BTI Loans, the "Loans"), in each case that were and are subject to the Rehabilitation Plan of Bayantel and Radio Communications of the Philippines, Inc. ("RCPI"), its tender offer to purchase for cash any and all of the outstanding Loans (the "tender offer for the Loans," and together with the tender offer for the Notes, the "tender offers").
As of December 6, 2012, Notes representing approximately 91.66% of the aggregate Remaining Principal Amount of Notes had been tendered and not withdrawn in the tender offer for the Notes, approximately 98.21% of the aggregate Remaining Principal Amount of BTI Loans had been tendered and not withdrawn in the tender offer for the Loans, and approximately 85.07% of the aggregate Remaining Principal Amount of RCPI Loans had been tendered and not withdrawn in the tender offer for the Loans. The overall "Acceptance Level," as such term is defined in the offer documents (as defined below), is 94.10%. All such tenders remain subject to validation by Globe.
The Chief Financial Officer of Globe, Mr. Alberto de Larrazabal, stated: "Globe is very pleased with the preliminary results of its tender offers for the restructured debt of Bayantel and RCPI. Creditors of Bayantel and RCPI have demonstrated overwhelming support for Globe's tender offers."
As Globe has previously announced: (i) the Total Consideration for the tender offers, as such term is defined in the offer documents, has been fixed at the highest level contemplated under the previous terms of the tender offers (US$310.00 per US$1,000 Remaining Principal Amount of Notes or Remaining Principal Amount of Loans, as the case may be, validly tendered (and not validly withdrawn) and accepted for purchase in the applicable tender offer, or in the case of PHP-denominated Loans, PHP 310.00 per PHP 1,000 of Remaining Principal Amount of BTI Loans and Remaining Principal Amount of RCPI Loans, as the case may be, validly tendered (and not validly withdrawn) and accepted for purchase in the tender offer for the Loans); (ii) in the tender offer for the Notes, Globe is now offering to pay, to each holder of Notes who validly tenders all of its Notes after the Extended Early Tender Date and on or prior to the Expiration Date (as such terms are defined in the offer documents for the Notes), for each US$1,000 Remaining Principal Amount of Notes of such holder validly tendered (and not validly withdrawn) and accepted for purchase in the tender offer, an amount in cash, defined as the "Tender Offer Consideration," equal to the Total Consideration of US$310, minus US$2.50 – that is, US$307.50; (iii) Globe has waived the particular condition which, under the previous terms of the tender offers, required a 70% aggregate participation level with respect to the RCPI Loans (though it now appears, subject to verification of tendered RCPI Loans, that this condition would have been met); and (iv) Globe now expects that the Settlement Date of both tender offers, as such term is defined in the offer documents, will occur not later than December 21, 2012, New York City time.
In the tender offer for the Notes, Globe has previously extended the Extended Early Tender Date to 11:59 p.m., New York City time, on December 11, 2012. The Extended Early Tender Date has not been further extended and remains 11:59 p.m., New York City time, on December 11, 2012.
In the tender offer for the Notes, the Withdrawal Date (as such term is defined in the offer documents for the Notes, as defined below) occurred at 5:00 p.m., New York City time, on November 19, 2012. The Withdrawal Date in the tender offer for the Notes has not been extended. Thus, holders of Notes who validly tendered and did not validly withdraw their Notes at or prior to 5:00 p.m., New York City time, on November 19, 2012, and holders who validly tender their Notes after that time, may not withdraw their tendered Notes.
In accordance with the terms of the tender offer for the Notes, holders of Notes may still tender their Notes at any time at or prior to 11:59 p.m., New York City time, on December 18, 2012 subject, at Globe's option, to extension or earlier termination.
The expiration date of the tender offer for the Loans occurred as of 11:59 p.m., New York City time, on December 4, 2012. However, Globe may exercise its right, under the terms of the offer documents for the Loans (as defined below), to accept for purchase tenders of certain Loans submitted after the expiration date of that Offer.
All other terms and conditions of the tender offer for the Notes and tender offer for the Loans, as set forth in their respective offer documents, remain unchanged.
Notice to Investors
This press release is for informational purposes only and is not an offer to buy or sell or the solicitation of an offer to sell or buy any securities. The tender offer for the Notes and the tender offer for the Loans are only being made pursuant to the terms of their respective offer documents. The tender offers are not being made in any jurisdictions where such an offer would be unlawful. For a complete statement of the terms and conditions of the tender offers, (i) holders of the Notes should refer to the offer documents for the Notes and (ii) Lenders should refer to the Offer to Purchase Loans, dated November 5, 2012, as amended on or about November 8, 2012, and related letter of transmittal (the "offer documents for the Loans").
Holders of Notes may obtain copies of the Amended and Restated Offer to Purchase dated as of November 6, 2012, the related Letter of Transmittal, and Globe's prior press releases dated November 20, 2012 and November 28, 2012, and December 4, 2012 (collectively, the "offer documents for the Notes," and together with the "offer documents for the Loans," the "offer documents") from the tender agent, Citibank N.A., London Branch (the "Tender Agent"), by telephone at: +44-(0)-20-7508-3867 or by e-mail at: [email protected]
Globe has retained Citigroup Global Markets Inc. to serve as dealer manager (the "Dealer Manager") for the tender offers. Questions concerning the terms of the tender offers should be directed to the Dealer Manager at +1-800-558-3745 (U.S. toll-free), +1-212-723-6108 (collect) and in Hong Kong at +852-2501-2961 (collect).
None of Globe, the Issuer, the Dealer Manager, the Tender Agent, the trustee under the indenture governing the Notes, or any other party is making any recommendation as to whether or not holders of the Notes or Lenders should tender their Notes or Loans, respectively, and no one has been authorized to make such a recommendation.
This press release contains forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words "anticipate," "believe," "estimate," "expect," "intend," "seek," "plan," "may," "will," "would," "could" and similar expressions, are intended to identify a number of these forward-looking statements. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. Because of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this press release and the offer documents might not occur in the way we expect, or at all. Holders of Notes and Lenders should not place undue reliance on any forward-looking information. In addition, these forward-looking statements reflect current views with respect to future events and are not a guarantee of future performance. Actual results may differ materially from information contained in the forward‑looking statements as a result of a number of factors, including general economic, political and other conditions in the Philippines, and the risk factors discussed in the offer documents, as well as other factors beyond our control. The information and statements in this press release is made on the date hereof. We do not intend to update or otherwise revise any forward-looking statements whether as a result of new information, future events or otherwise, unless such information is material within the purview of applicable laws, the mandate of which is to enforce investor protection.
For more information, please contact:
Head, Corporate Communications
Globe Telecom, Inc.
Tel No. +63-2-730-2627
Fax No. +63-2-739-3075
SOURCE Globe Telecom, Inc.
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
May. 31, 2016 03:15 AM EDT Reads: 2,563
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
May. 31, 2016 01:30 AM EDT Reads: 1,453
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
May. 30, 2016 10:00 PM EDT Reads: 2,031
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
May. 30, 2016 09:00 PM EDT Reads: 2,474
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
May. 30, 2016 04:30 PM EDT Reads: 2,644
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
May. 30, 2016 02:00 PM EDT Reads: 3,104
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
May. 30, 2016 01:30 PM EDT Reads: 1,166
SYS-CON Events announced today the How to Create Angular 2 Clients for the Cloud Workshop, being held June 7, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified. Now it’s a component-based well-performing framework. The immersive one-day workshop led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and...
May. 30, 2016 12:00 PM EDT Reads: 4,131
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
May. 30, 2016 11:15 AM EDT Reads: 1,367
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
May. 30, 2016 11:00 AM EDT Reads: 2,598
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...
May. 30, 2016 10:45 AM EDT Reads: 2,091
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
May. 30, 2016 09:15 AM EDT Reads: 2,407
SYS-CON Events announced today that MobiDev will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobile software company with over 200 develope...
May. 30, 2016 09:15 AM EDT Reads: 2,881
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
May. 30, 2016 09:00 AM EDT Reads: 1,476
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
May. 30, 2016 08:00 AM EDT Reads: 2,420
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
May. 30, 2016 07:00 AM EDT Reads: 2,324
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
May. 30, 2016 05:30 AM EDT Reads: 3,334
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
May. 30, 2016 04:45 AM EDT Reads: 3,365
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
May. 30, 2016 03:15 AM EDT Reads: 1,569
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
May. 30, 2016 03:00 AM EDT Reads: 2,108