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GVG Raises Up to €32M

Global Voice Group raises up to €32M in convertible bond issue

October 4, 2007

1 Min Read

SINGAPORE -- Global Voice Group Limited (GVG), (SGX: H23.SI), owner and operator of one of Europe’s highest capacity fiber networks and provider of mission critical communication infrastructure and services, today announced it has completed the issue of a convertible bond that will raise up to €32 million for the company.

Global Voice, which trades as euNetworks in Europe, owns and operates one of Europe’s highest-capacity fiber optical networks that uniquely combines “long-haul” with “last-mile” fiber, connecting Europe’s largest cities and economies. Over this network, euNetworks’ deploys mission-critical fiber infrastructure and network solutions to Europe’s largest corporate companies, carriers, and service providers.

GVG issued the convertible bond in order to accelerate investment rollout in response to increased customer demand. Specifically, GVG will utilise the proceeds of the convertible bond to accelerate the rollout of metro networks and associated services in the London, Berlin and Munich; complete the commissioning of a next generation long-haul network through Germany; and the expansion/commissioning of additional datacenter space in Amsterdam and other markets. All of these investment programs are in response to growing demand for euNetworks services and in most circumstances, are supported by signed customer agreements.

The total issued amount is up to €32 million before expenses, with a five-year maturity and 3% annual interest rate. “We are very pleased with the very positive response and uptake of our convertible bond offering with the financial community, which we feel fully validates our performance to date, and strategic plan for the future,” said Noel Meaney, chief executive officer of Global Voice. “This investment enables us to accelerate investment in key markets such as London, Amsterdam and Germany where we have already seeing strong advanced demand for our expanded service and infrastructure offerings.”

Global Voice Networks AG

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