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| TyCom Ltd. |
| The Zurich Centre, Second Floor, Suite 201 90 Pitts Bay Road, Pembroke, Bermuda HM 08 * 4412989770 |
| Business Description | The company is the world's leading independent, fully integrated, turnkey supplier of undersea fiber optic networks and services. |
| Offering Information Company has | ||||
| Trading As | TCM (NYSE) | Industry | Manufacturing (SIC 3671) | |
| Type of Stock Offered | Common Shares | Filing Date | 3/10/00 | |
| Domestic Shares Offered | 61,125,000 | Offer Date | 7/26/00 | |
| Foreign Shares Offered | 0 | Filing Range | $26.00 - $30.00 | |
| Company Shares | 61,125,000 | Offer Price | $32.00 | |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.600 | |
| Gross Proceeds | $1,956,000,000 | Selling | $0.960 | |
| Expenses | - - | Reallowance | $0.100 | |
| Post-IPO Shares | 504,000,000 | Employees | - - | |
| Spun out from: | Tyco, Inc. | |||
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 9/30/97 | 9/30/98 | 9/30/99 | 12/31/98 | 12/31/99 | ||
| Revenues | - | - | 375.500 | 1,281.600 | 1,637.600 | 225.800 | 629.200 |
| Income from Oper. | - | - | -265.500 | 262.300 | 323.600 | 81.200 | 102.700 |
| Net Income | - | - | -156.600 | 152.000 | 163.000 | 40.700 | 63.000 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 241.30 | 27.778 | 178.65 | ||
| Net Income Growth (%) | - | - | - | 7.24 | 54.79 | ||
| Oper. Profit Margin (%) | - | - | - | 20.47 | 19.76 | 16.32 | 35.96 |
| Net Profit Margin (%) | - | - | - | 11.86 | 9.95 | 10.01 | 18.02 |
| Cash Flow - Oper. | 773.50 | 5.00 | 253.30 | ||||
| Cash Flow - Inv. | -172.10 | -31.20 | -47.60 | ||||
| Cash Flow - Fin. | -0.64 | 24.70 | -200.60 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 2,485.80 | Current Assets | 1,469.60 | Current Ratio | 1.12 |
| Total Liab. | 1,989.60 | Current Liab. | 1,312.30 | Debt Ratio | 80.04% |
| Total Equity | 496.20 | Working Cap. | 157.30 | Debt to Equity Ratio | 4.01 |
| Cash | 17.20 | Return on Assets | 2.53% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for the deployment of the first phase of our worldwide undersea fiber optic cable system, the TyCom Global Network, and to pay a dividend to TGB holdings Ltd. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Davis, Polk & Wardwell |
| Bank's Law Firm | Cleary, Gottlieb, Steen & Hamilton |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| TGN Holdings Ltd. | 100.00 | |
| Note: represents ownership of 5% or more prior to the offering. | ||