White & Case Advises Initial Purchasers on $750 Million Secured Notes Offering by Global Crossing Limited

New York, September 24, 2009 ... Global law firm White & Case LLP advised the initial purchasers in connection with Global Crossing Limited's offering of $750 million in aggregate principal amount of its 12% senior secured notes due 2015. The notes are secured by collateral located in over 30 countries. White & Case also advised the dealer managers and consent solicitation agents in connection with the related tender offer for the $225 million senior notes due 2017 issued by GC Impsat Holdings I plc, a subsidiary of Global Crossing. Global Crossing provides telecommunications solutions over the world's first integrated global IP-based network with a core network connecting approximately 400 cities in 45 countries worldwide.

Proceeds from the offering were used to (i) repay all outstanding debt under Global Crossing's existing term loan agreement, (ii) fund the purchase of the GC Impsat Notes, and (iii) general corporate purposes.

The senior secured notes were offered to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended, and outside the United States in compliance with Regulation S under the Act. Goldman, Sachs & Co., Credit Suisse and J.P. Morgan acted as joint bookrunning managers in the notes offering and dealer managers/consent solicitation agents for the GC Impsat tender offer.

The White & Case team was led by partners Scott Zemser and Gary Kashar. Other White & Case lawyers advising on the transaction were Dan Nam, George Yannopoulos, Logan Hennessey, Ken Sim, Kerry Pettigrew, Gavin McLean, Andrew Zatz, Mangesh Dhume, Shanan Dunstan, Patrice Antoine, Toren Murphy, Michelle Huang, Barry Schachter, Gulzhan Nurakhmet, Elodie Gal, Patrick Rosenthal, Florence Meeuwissen, Ferdinand Brughmans, Marianna Sedefian, Paule Biensan, Elisa Carneiro de Moraes, Philipp Jentzmik, Clemens Niedner, Sabine Schomaker, Denise Diallo, Stefan Odeurs, Karoly Foti, Akos Derer, Costin Mihailescu, Johan Mattsson, Raul Fernandez-Briseno, Jose Nunez, Toshio Dokei, Paul Wong, Chiho Saito, Baldwin Cheng, Rosanna Chow and Andries De Smet.

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