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Both petitions were filed with the support of the informal committees representing the holders of GTS's and GTS Europe's publicly traded debt.
GTS also announced that Deutsche Bank, Dresdner Bank and Bank of America (the "Bank Group"), which are providing financing to GTS' Global TeleSystems Europe Holdings B.
Consistent with these plans, GTS announced that it did not make the cash interest payment due on July 1, 2001 on its 5-3/4% Convertible Senior Subordinated Debentures due 2010 (the "Convertible Debentures"), or the dividend payment due June 15, 2001 on its depositary shares.
We continue to focus on GTS becoming a 100% broadband and data focused company.
GTS Announces In-service Launch of 1 Tbps System On Second Fibre
This facility, along with other GTS hosting and co-location sites around Europe, provides state-of-the-art facilities to securely house mission-critical equipment, applications and content of businesses, ISPs, applications service providers (ASPs) and carriers.
This service will be available to GTS wholesale, carrier and business customers.
Nemirovsky will have overall international responsibility for the design and development of GTS "on-net" Web hosting centers, providing Web hosting products and services to Web-centric businesses, including applications service providers (ASPs), ISPs, portals and content providers, as well as to GTS corporate and SME customers.
GTS to provide connectivity in additional points of presence in
Brian Thompson, chairman and chief executive officer of GTS, commenting on the decision to list on the New York Stock Exchange, said: "The move to the NYSE marks an important milestone in the evolution of GTS as a company.
As in the original project terms, GTS is investing $100 million in equity in the joint venture.
The gigabit IP backbone allows GTS to carry IP traffic at 2.
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