| Ticker: TCGI | One Teleport Drive | |
| Exchange: NASDAQ-National Market | Staten Island, New York 10311 | |
| Industry: Service | (718) 355-2000 |
| Type of Shares: | Class A Common Shares | Filing Date: | 4/19/96 | |
| U.S. Shares: | 18,800,000 | Offer Date: | 6/27/96 | |
| Non-U.S. Shares: | 4,700,000 | Filing Range: | $15.00 - $17.00 | |
| Primary Shares: | 23,500,000 | Offer Price: | $16.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.82 | |
| Offering Amount: | $376,000,000 | Selling: | $0.50 | |
| Expenses: | $2,033,000 | Reallowance: | $0.10 | |
| Shares Out After: | 156,157,614 |
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Deutsche Morgan Grenfell | Co-manager | (212) 468-5000 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 504-4525 |
| Lehman Brothers Incorporated | Co-manager | (212) 640-6129 |
| Morgan Stanley & Co. Incorporated | Co-manager | (212) 703-4797 |
| Auditor: Deloitte & Touche | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $166.17 | $50.44 | $36.79 | Assets: | $658.91 |
| Net Income: | -$53.80 | -$18.69 | -$11.54 | Liabilities: | $552.25 |
| EPS: | Equity: | $106.66 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is one of the nation's largest providers of local phone service outside of the Baby Bells. The company builds fiber optic networks in major U.S. cities and links them to businesses and office parks allowing them to circumvent the Baby Bells. Teleport Communications Group Inc., the first and largest competitive local exchange carrier in the United States, offers a wide range of local telecommunications services in major metropolitan markets nationwide. The Company competes with incumbent local exchange carriers as "The Other Local Phone COmpany" by providing high quality, integrated local telecommunications services, primarily over fiber optic digital networks, to meet the voice, data and video transmission needs of its customers. TCG's customers are principally telecommunications-intensive businesses, long distance carriers and resellers, and wireless communications companies. TCG offers these customers, technologically advanced local telecommunications services, as well as superior customer service, flexible pricing and vendor and route diversity. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to redeem up to 7.807,881 shares of Class B Common Stock held by a subsidiary of Continental; to repay approximately $155 million of bank indebtedness of a subsidiary of the company, which amounts may be reborrowed; to expand and develop existing and new networks and ; for other general corporate and working capital purposes, which may include acquisitions. |
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