XO Communications emerged from Chapter 11 bankruptcy protection with its long-term debt reduced from $5.1 billion to $500 million provided through a new credit facility. The company will not be required to pay cash interest on this debt until XO achieves specific financial targets. Financier Carl Icahn has assumed the role of Chairman of the Board, and companies under his control hold more than 80% of the stock in the reorganized XO. Creditors hold the remaining shares. Icahn said that XO is poised for continued growth from new customers and acquisitions of companies or assets.
http://www.xo.com
- XO filed its Chapter 11 reorganization petition in June 2002.
- XO operates in 60 markets across the US offering a range of services, including local and long distance voice, Internet access, Virtual Private Networking (VPN), Ethernet, Wavelength, Web Hosting and Integrated voice and data services
- The core of the North American XO backbone is a mesh of OC-192 circuits, connecting the XO Peering POPs and five XO data centers. The long-haul network covers 16,000 route miles. XO has completed an OC-192 IP backbone that runs completely across its own Inter-city facilities. XO also operates 30 metro networks will some 430,000 miles of installed fiber. XO owns the largest footprint of fixed wireless spectrum, which covers 95% of the population in the top 30 U.S. cities. The frequency of the spectrum is 28-GHz.
