Search
Menu
PI Physik Instrumente - Fast Steering LB LW 11/24

Metromedia Defaults on Debt

Facebook X LinkedIn Email
NEW YORK, April 19 -- Metromedia Fiber Network Inc., said Tuesday it had defaulted on $975 million in debt held by an affiliate of Verizon Communications Inc.

Metromedia, which builds high-speed networks in cities, said it was in default after failing to pay interest under a 30-day grace period on the debt. As a result, it said it may be forced to repay the debt under an accelerated schedule.

The company is currently in discussions with the holders of substantially all of its indebtedness, including Verizon, about its restructuring.

Opto Diode Corp. - Detector Spotlight 10-24 MR

Published: April 2002
CommunicationsNews & Features

We use cookies to improve user experience and analyze our website traffic as stated in our Privacy Policy. By using this website, you agree to the use of cookies unless you have disabled them.