Welcome!

Mobile IoT Authors: Elizabeth White, Liz McMillan, Peter Silva, David H Deans, Pat Romanski

News Feed Item

Globe Announces Successful Completion and Settlement of its Tender Offers for All Outstanding 13.5% Senior Notes Originally Due 2006 Issued by Bayan Telecommunications, Inc. and for All Outstanding Loans Made to Bayan Telecommunications, Inc. and Radio Co

MANILA, Philippines, Dec. 21, 2012 /PRNewswire/ -- Globe Telecom, Inc. ("Globe") announced today the successful completion and settlement 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"). All of the conditions to the tender offers, as set forth in their respective offer documents (as defined below), have been satisfied or waived.  The Settlement Date of both tender offers, as such term is defined in the offer documents, is December 21, 2012.

As of the expiration of the tender offer for the Notes, at 11:59 p.m., New York City time, on December 18, 2012, Notes representing approximately 92.90% of the aggregate Remaining Principal Amount of Notes had been tendered and not withdrawn.  As of December 21, 2012, approximately 98.26% of the aggregate Remaining Principal Amount of BTI Loans had been tendered and not withdrawn in the tender offer for the Loans, and 100% of the aggregate Remaining Principal Amount of RCPI Loans had been tendered and not withdrawn in the tender offer for the Loans.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, is approximately 96.17%. All such tenders have been validated and accepted for purchase by Globe.

As Globe has previously announced: (i) the Total Consideration for the tender offers, as such term is defined in the offer documents, is 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); and (ii) in the tender offer for the Notes, Globe is paying, to each holder of Notes who validly tendered 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 accepted for purchase in the tender offer, "Tender Offer Consideration," equal to US$307.50.

Citibank N.A., London Branch, served as the Tender Agent for the tender offers. Citigroup Global Markets Inc. served as the Dealer Manager for the tender offers.

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 were made pursuant to the terms of their respective offer documents. The tender offers were not made in any jurisdictions where such an offer would be unlawful.  

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, November 28, 2012, and December 4, 2012 collectively comprise the "offer documents for the Notes." The Offer to Purchase Loans, dated November 5, 2012, as amended on or about November 8, 2012, together with the related letter of transmittal, comprise the "offer documents for the Loans." The offer documents for the Notes, together with the "offer documents for the Loans, collectively comprise the "offer documents."

Forward-Looking Statements

This press release may contain 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:

Yoly Crisanto

Head, Corporate Communications

Globe Telecom, Inc.

Tel No. (632) 730-2627

Fax No. (632) 739-3075

[email protected]

 

SOURCE Globe Telecom

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
Although it has gained significant traction in the consumer space, IoT is still in the early stages of adoption in enterprises environments. However, many companies are working on initiatives like Industry 4.0 that includes IoT as one of the key disruptive technologies expected to reshape businesses of tomorrow. The key challenges will be availability, robustness and reliability of networks that connect devices in a business environment. Software Defined Wide Area Network (SD-WAN) is expected to...
Developing software for the Internet of Things (IoT) comes with its own set of challenges. Security, privacy, and unified standards are a few key issues. In addition, each IoT product is comprised of (at least) three separate application components: the software embedded in the device, the back-end service, and the mobile application for the end user’s controls. Each component is developed by a different team, using different technologies and practices, and deployed to a different stack/target –...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
As cloud adoption continues to transform business, today’s global enterprises are challenged with managing a growing amount of information living outside of the data center. The rapid adoption of IoT and increasingly mobile workforce are exacerbating the problem. Ensuring secure data sharing and efficient backup poses capacity and bandwidth considerations as well as policy and regulatory compliance issues.
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....