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| FLAG Telecom Holdings Limited |
| 69 Front Street, Hamilton, Bermuda HM12 * 4412960909 |
| Business Description | The company is a global carriers' carrier that develops and offers a broad range of innovative telecommunications products and services to licensed international carriers. |
| Offering Information Company has | |||
| Trading As | FTHL (NASNTL) | Industry | Telecommunications (SIC 4813) |
| Type of Stock Offered | Common Shares | Filing Date | 1/18/00 |
| Domestic Shares Offered | 31,700,000 | Offer Date | 2/11/00 |
| Foreign Shares Offered | 0 | Filing Range | $22.00 - $24.00 |
| Company Shares | 31,700,000 | Offer Price | $24.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.200 |
| Gross Proceeds | $760,800,000 | Selling | $0.720 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 127,066,056 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Salomon Smith Barney | Lead Manager | (212) 723-7300 |
| Deutsch Banc Alex. Brown | Co-manager | (410) 727-1700 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-5959 |
| Morgan Stanley Dean Witter | Co-manager | (212) 761-5900 |
| Warburg Dillon Read LLC | Co-manager | (203) 719-3000 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/13/96 | 12/31/97 | 12/31/98 | ||||
| Revenues | - | - | - | 339.993 | 208.248 | - | - |
| Income from Oper. | - | - | -12.782 | 101.990 | 35.831 | - | - |
| Net Income | - | - | -10.374 | 79.443 | -71.521 | - | - |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | - | -38.749 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | 30.00 | 17.21 | - | - |
| Net Profit Margin (%) | - | - | - | 23.37 | - | - | - |
| Cash Flow - Oper. | 88.83 | - | - | ||||
| Cash Flow - Inv. | 97.82 | - | - | ||||
| Cash Flow - Fin. | -186.14 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 1,363.90 | Current Assets | 129.60 | Current Ratio | 0.99 |
| Total Liab. | 1,054.04 | Current Liab. | 130.39 | Debt Ratio | 77.28% |
| Total Equity | 309.87 | Working Cap. | -0.79 | Debt to Equity Ratio | 3.40 |
| Cash | 2.84 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to repay indebtedness under FLAG Limited's existing credit facility, to fund existing obligation to contribute capital to FLAG Atlantic Limited and to fund additional expansions of the FLAG Telecom network, the development of additional wholesale and bundled products and service offerings and for working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Morgan, Lewis & Bockius |
| Bank's Law Firm | Cleary, Gottlieb, Steen & Hamilton |
| Registrar/Transfer Agent | American Stock Transfer & Trust Co |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Bell Atlantic Corporation | 36.97 | |
| Dallah Albaraka | 20.29 | |
| Telecom Asia Corporation Public Co. Ltd. | 16.79 | |
| Marubeni Corporation | 9.38 | |
| The Asian Infrastructure Fund | 8.39 | |
| General Electric Capital Corporation | 2.54 | |
| Note: represents ownership of 5% or more prior to the offering. | ||