PRIMUS Telecommunications obtained $13 million in new debt financing and completed the restructuring of an existing major vendor facility. The company said the developments reflect improvement in its financial condition.
http://www.primustel.com
- In December 2002, Primus Telecommunications raised $42 million through the sale of newly-issued shares of its Series C Convertible Preferred Stock.
- In September 2002, Cable & Wireless agreed to sell its US retail voice customer base to Primus Telecommunications for US$32 million in cash, payable over two years. The customer base consists of about 31,000 small- and medium-sized enterprise customers.