EarthLink Issues Notice to Redeem 3.25% Convertible Senior Notes
Poster: SySAdmin
Posted on October 14, 2011 at 9:35:01 AM
EarthLink Issues Notice to Redeem 3.25% Convertible Senior Notes
ATLANTA, Oct. 14, 2011 /PRNewswire/ -- EarthLink, Inc. (NASDAQ: ELNK) today issued a notice of redemption to redeem all of its outstanding 3.25% Convertible Senior Notes due 2026 (the "Notes") on November 15, 2011.
Special Notice to Noteholders
Under the terms of the indenture governing EarthLink's outstanding 3.25% Convertible Senior Notes due 2026 (the "Notes"), EarthLink's calling of the Notes for redemption requires an adjustment to the conversion rate for the Notes as a result of the $0.05 dividend paid by EarthLink on September 20, 2011, which adjustment will be effective October 14, 2011. In addition, as a result of calling the Notes for redemption and the occurrence of a specified period allowing conversion, the Notes may be surrendered for conversion from October 14, 2011 to, and including, November 15, 2011, subject to earlier redemption, for the consideration provided for in the indenture.
In order to convert a Note held in certificate form, a holder must (1) complete and sign a Conversion Notice in the form attached to the applicable indenture, with appropriate signature guarantee, on the back of the Note, (2) surrender the Note to the Conversion Agent, (3) furnish endorsements and transfer documents required by the Conversion Agent, (4) pay any accrued unpaid interest through the conversion date and (5) pay any tax or duty related to the conversion. If a holder holds a beneficial interest in a Global Security, a converting holder must comply with the applicable procedures of the Depositary, The Depository Trust Company.
The Conversion Agent is Wells Fargo Bank, N.A.:
Wells Fargo Bank, N.A.,
Corporate Trust Services
MAC N9303-120
625 Marquette Avenue South
Minneapolis, MN 55479
Attention: EarthLink Account Manager
A separate notice with additional information is being delivered to registered holders of Notes, the Conversion Agent and the Trustee.
About EarthLink
EarthLink, Inc. (NASDAQ: ELNK) is a leading provider of Internet Protocol (IP) infrastructure and services to medium-sized and large businesses, enterprise organizations and over 1.5 million consumers across the United States. The company has been providing Internet access and communications services for decades and has earned an award-winning reputation for both outstanding customer service and product innovation. For consumers, EarthLink is a leading Internet Service Provider connecting people to the power and possibilities of the Internet. EarthLink Business(TM) provides voice, data, mobile and equipment services over a 28,000 mile fiber network and MPLS-based services nationwide. For more information, visit EarthLink's website http://www.earthlink.net.
SOURCE EarthLink, Inc.
EarthLink, Inc.
CONTACT: Investors: Louis Alterman, +1-404-748-7650, +1-678-472-3252 (mobile), altermanlo@corp.earthlink.net; Media: Michele Sadwick, +1-404-748-7255, +1-404-769-8421 (mobile), sadwick@corp.earthlink.net
Web Site: http://www.earthlink.net
ATLANTA, Oct. 14, 2011 /PRNewswire/ -- EarthLink, Inc. (NASDAQ: ELNK) today issued a notice of redemption to redeem all of its outstanding 3.25% Convertible Senior Notes due 2026 (the "Notes") on November 15, 2011.
Special Notice to Noteholders
Under the terms of the indenture governing EarthLink's outstanding 3.25% Convertible Senior Notes due 2026 (the "Notes"), EarthLink's calling of the Notes for redemption requires an adjustment to the conversion rate for the Notes as a result of the $0.05 dividend paid by EarthLink on September 20, 2011, which adjustment will be effective October 14, 2011. In addition, as a result of calling the Notes for redemption and the occurrence of a specified period allowing conversion, the Notes may be surrendered for conversion from October 14, 2011 to, and including, November 15, 2011, subject to earlier redemption, for the consideration provided for in the indenture.
In order to convert a Note held in certificate form, a holder must (1) complete and sign a Conversion Notice in the form attached to the applicable indenture, with appropriate signature guarantee, on the back of the Note, (2) surrender the Note to the Conversion Agent, (3) furnish endorsements and transfer documents required by the Conversion Agent, (4) pay any accrued unpaid interest through the conversion date and (5) pay any tax or duty related to the conversion. If a holder holds a beneficial interest in a Global Security, a converting holder must comply with the applicable procedures of the Depositary, The Depository Trust Company.
The Conversion Agent is Wells Fargo Bank, N.A.:
Wells Fargo Bank, N.A.,
Corporate Trust Services
MAC N9303-120
625 Marquette Avenue South
Minneapolis, MN 55479
Attention: EarthLink Account Manager
A separate notice with additional information is being delivered to registered holders of Notes, the Conversion Agent and the Trustee.
About EarthLink
EarthLink, Inc. (NASDAQ: ELNK) is a leading provider of Internet Protocol (IP) infrastructure and services to medium-sized and large businesses, enterprise organizations and over 1.5 million consumers across the United States. The company has been providing Internet access and communications services for decades and has earned an award-winning reputation for both outstanding customer service and product innovation. For consumers, EarthLink is a leading Internet Service Provider connecting people to the power and possibilities of the Internet. EarthLink Business(TM) provides voice, data, mobile and equipment services over a 28,000 mile fiber network and MPLS-based services nationwide. For more information, visit EarthLink's website http://www.earthlink.net.
SOURCE EarthLink, Inc.
EarthLink, Inc.
CONTACT: Investors: Louis Alterman, +1-404-748-7650, +1-678-472-3252 (mobile), altermanlo@corp.earthlink.net; Media: Michele Sadwick, +1-404-748-7255, +1-404-769-8421 (mobile), sadwick@corp.earthlink.net
Web Site: http://www.earthlink.net