>>>MCLEODUSA.COM - 10.000%<<< - 500 Beiträge pro Seite

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The McLeodUSA Network

Get world-class communications service backed
by a world-class network with McLeodUSA

World-class telecommunications services at McLeodUSA start with a world-class network. Our advanced fiber-optic network spans 25 Midwest, Southwest, Northwest and Rocky Mountain States, providing reliable local, long distance, wireless, data and Internet service to rural and metropolitan areas.

With approximately 2,300 employees , McLeodUSA owns, operates and maintains a full range of facilities including as of March 31, 2005:

38 ATM switches
39 voice switches
699 collocations
432 DSLAMs

The network is interconnected by a resilient, high-speed fiber-optic backbone. Our Network Management Center is staffed with highly trained and experienced certified network professionals, ensuring that mission-critical information and communications services are available when our customers need them. Plus, at every McLeodUSA Point of Presence, backup power, climate control and secure access equipment further minimize network downtime.

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Business Strategy:

The principal elements of our business strategy are to provide voice and data services with outstanding customer service to small and medium-size businesses and residential customers across our 25-state footprint.

We derive most of our revenue from our core competitive telecommunications and related communications services, including:

local and long-distance services;
dial-up and dedicated Internet access services;
high-speed Internet access services, such as services using DSL and cable modems;
bandwidth and network facilities leasing, sales and services, including access services;
facilities and services dedicated for a particular customer`s use; and
value-added services such as virtual private networks.

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At McLeodUSA, we have strong financial support and a committed Board of Directors. The New York City-based investment firm of Forstmann Little & Co. has invested approximately $1.2 billion in our company and now holds a 58% ownership position . Theodore J. Forstmann, Co-founder and Senior Partner of Forstmann Little & Co., is the chairman of the Executive Committee of our Board and has helped attract a very impressive group of Directors who are helping to govern and guide our company into the future. The McLeodUSA Board of Directors includes:

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http://www.hoovers.com/mcleodusa/--ID__51489--/free-co-facts…

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die aktie kommt von 20 USD im Jahr 2001

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und 1 USD im januar 2005

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und 40 Cent im märz 2005

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FOR IMMEDIATE RELEASE

McLeodUSA Announces Extension of Forbearance
Agreement with Lenders

• Company focused on capital restructuring
• No recovery expected for preferred or common stockholders

CEDAR RAPIDS, Iowa – July 21, 2005 –

McLeodUSA Incorporated, one of the nation’s largest
independent, competitive telecommunications services providers, today announced that the Company
and its lenders have agreed to extend until September 9, 2005 the forbearance agreement initially
entered into on March 16, 2005 and previously extended to July 21, 2005. Under the terms of the
forbearance agreement, the lenders continue to agree not to take any action as a result of non-payment
by the Company of certain principal and interest payments due on or before September 9, 2005 or any
related events of default that occur through September 9, 2005.
As previously announced, the Company has been exploring a capital restructuring with its lenders while
also attempting to identify a potential strategic partner or buyer. At this time, the Company has
concluded that there is not an acceptable strategic partner or buyer and is proceeding to work with its
lenders to complete a capital restructuring where its lenders would convert a substantial portion of their
debt to equity and become the majority stockholders of the Company. The parties agreed to extend the
forbearance agreement through September 9, 2005 to further prepare for the capital restructuring.
There can be no assurances that the Company will be able to reach an agreement with its lenders
regarding a capital restructuring on terms and conditions acceptable to the Company prior to the end of
the forbearance period.
While the Company continues to explore with its lenders a capital restructuring, none of the alternatives
presented to date have suggested that there will be any recovery for the Company’s current preferred
stock or common stockholders. Accordingly, the Company does not expect its preferred stock or
common stock to receive any recovery in a capital restructuring.
The Company believes that by not making principal and interest payments on the credit facilities, cash
on hand together with cash flows from operations are sufficient to maintain operations in the ordinary
course without disruption of services. The Company does not expect the exploration of the capital
restructuring to negatively impact its customers or suppliers. The Company remains committed to
continuing to provide the highest level of service to its customers and to maintaining its strong supplier
relationships.
About McLeodUSA
McLeodUSA provides integrated communications services, including local services, in 25 Midwest,
Southwest, Northwest and Rocky Mountain states. The Company is a facilities-based
telecommunications provider with, as of March 31, 2005, 38 ATM switches, 39 voice switches, 699
collocations, 432 DSLAMs and approximately 2,300 employees. Visit the Company’s Web site at
www.mcleodusa.com
Some of the statements in this press release include statements about our future expectations. Statements that are not historical
facts are "forward-looking statements" for the purpose of the safe harbor provided by Section 21E of the Exchange Act and
Section 27A of the Securities Act. Such statements may include projections of financial and operational results and goals,
including revenue, EBITDA, Adjusted EBITDA, profitability, savings and cash. In some cases, you can identify these so-called
"forward-looking statements" by our use of words such as "may," "will," "should," "expect," "plan," "anticipate," "believe,"
"estimate," "predict," "project," "intend" or "potential" or the negative of those words and other comparable words. These
forward-looking statements are subject to known as well as unknown risks and uncertainties that may cause actual results to differ
materially from our expectations. Our expectations are based on various factors and assumptions and reflect only our predictions.
Factors that could cause actual results to differ materially from the forward-looking statement include technological, regulatory,
public policy or other developments in our industry, availability and adequacy of capital resources, our ability to continue as a
going concern, our ability to implement a strategic transaction or a capital restructuring, current and future economic conditions,
the existence of strategic alliances, our ability to generate cash, our ability to implement process and network improvements, our
ability to attract and retain customers, our ability to migrate traffic to appropriate platforms and changes in the competitive climate
in which we operate. These and other risks are described in more detail in our most recent Annual Report on Form 10-K filed
with the SEC. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of
future events, new information or otherwise.
Contact:
McLeodUSA Incorporated, Cedar Rapids, IA
Investor Contact: Bryce Nemitz
Press Contact: Bruce Tiemann
Phone: [phone]

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FOR IMMEDIATE RELEASE
McLeodUSA Reports Second Quarter 2005 Results
• Continued strong operational performance and cash management
• Recorded non-cash charge of $202MM related to asset impairment review
• Company focused on capital restructuring with no recovery expected for preferred
or common stockholders
CEDAR RAPIDS, Iowa – August 9, 2005 – McLeodUSA Incorporated, one of the nation’s largest
independent, competitive telecommunications services providers, today reported financial and operating
results for the quarter ended June 30, 2005.
Total revenues for the quarter ended June 30, 2005 were $159.7 million compared to $160.5 million in
the first quarter of 2005 and $191.9 million in the second quarter of 2004. In the second quarter of
2005, long distance and local revenue per customer increased slightly due to higher wholesale volume
and private line and data revenue per customer increased by 1.2%, however, these increases were offset
by a reduction in total customers for the quarter.
Gross margin for the second quarter of 2005 was $67.5 million compared to $67.2 million in the first
quarter of 2005 and $86.6 million in the second quarter of 2004. Gross margin as a percentage of
revenue for the second quarter was 42.3%, compared with 41.9% in the first quarter of 2005 and 45.1%
in the second quarter of 2004. Gross margin in the second quarter of 2004 included various favorable
settlements of approximately $6 million.
SG&A expenses for the second quarter of 2005 were $53.7 million compared to $56.7 million in the
first quarter of 2005 and $68.5 million in the second quarter of 2004 as the Company continues to
realize the benefits of its ongoing process improvement programs and other actions taken to reduce nonessential
expenses. Adjusted EBITDA in the second quarter of 2005 was $13.8 million. This amount
included an unfavorable impact of approximately $4.0 million related to various settlements, which
were partially offset by higher access billings in the second quarter. The $13.8 million Adjusted
EBITDA in the second quarter compared to $10.5 million in the first quarter of 2005 and $18.1 million
in the second quarter of 2004. In the second quarter, the Company incurred $4.8 million in
restructuring charges related to financial and legal advisors supporting the Company’s pursuit of
strategic alternatives or capital restructuring.
Consistent with the Company’s current focus on a capital restructuring and in accordance with certain
accounting standards and prescribed procedures, the Company performed analyses related to the deemed
recoverability of its property and equipment and carrying value of selected intangible assets. As a result, a
non-cash impairment charge of $202.5 million was recorded in the second quarter. Net loss for the second
quarter of 2005, including the impairment charge, was $(268.0) million, or a loss per common share of
$(0.86), versus $(97.5) million in the first quarter of 2005 and $(82.2) million in the second quarter of
2004.
The Company’s excellent operational performance continued in the second quarter of 2005. The
customer satisfaction rating for the quarter was 95%, billing accuracy remained at 99.9% and the
Company continued to consistently achieve 99.999% network reliability, all in line with Company
goals.
Customer platform mix at the end of the second quarter was 74% UNE-L, 4% resale and 22% UNE-P
versus 69%, 4% and 27%, respectively, at the end of the second quarter of 2004. Business customer
line turnover was 2.2% in the second quarter of 2005 compared to 2.0% in the first quarter of 2005 and
2.2% in the second quarter of 2004. Total customer line turnover in the second quarter was 2.3% versus
2.1% in the first quarter of 2005 and 2.5% in the second quarter of 2004.
The Company ended the quarter with $33.4 million of cash on hand. Total capital expenditures for the
second quarter of 2005 were $9.1 million principally in support of the Company’s VoIP Dynamic
Integrated Access rollout and sustaining the existing voice and data networks. The Company was in
full compliance with the terms of the forbearance agreement with its lenders in the second quarter of
2005.
Capital Restructuring
As recently announced, the Company and its lenders agreed to extend until September 9, 2005 the
forbearance agreement initially entered into on March 16, 2005 and previously extended to July 21,
2005. Under the terms of the forbearance agreement, the lenders continue to agree not to take any
action as a result of non-payment by the Company of certain principal and interest payments due on or
before September 9, 2005 or any related events of default that occur through September 9, 2005.
As previously announced, the Company is working with its lenders to effectuate a capital restructuring
where the lenders would convert a substantial portion of their debt to equity and become the Company’s
stockholders. None of the restructuring alternatives under evaluation provide any recovery for the
Company’s current preferred or common stockholders. Therefore, the Company does not expect
holders of its preferred or common stock to receive any recovery in a capital restructuring. In addition,
there can be no assurance that the Company will be able to reach an agreement with its lenders
regarding a capital restructuring on terms and conditions acceptable to the Company prior to the end of
the forbearance period on September 9, 2005.
The Company continues to believe that by not making principal and interest payments on the credit
facilities, cash on hand together with cash flows from operations are sufficient to maintain operations in
the ordinary course without disruption of services or negative impact on its customers or suppliers.
McLeodUSA remains committed to continuing to provide the highest level of service to its customers
and to maintaining its strong supplier relationships.
About McLeodUSA
McLeodUSA provides integrated communications services, including local services, in 25 Midwest,
Southwest, Northwest and Rocky Mountain states. The Company is a facilities-based
telecommunications provider with, as of June 30, 2005, 38 ATM switches, 38 voice switches, 698
collocations, 432 DSLAMs and approximately 2,072 employees. Visit the Company’s Web site at
www.mcleodusa.com
1Non–GAAP Financial Measures
To provide further clarification, the Company has begun using the term Adjusted EBITDA as a replacement for EBITDA.
Adjusted EBITDA is a non-GAAP financial measure used by management to evaluate the effectiveness of the Company’s
operating performance and to enhance the comparability between periods. EBITDA is an acronym for earnings before interest,
taxes, depreciation and amortization. Adjusted EBITDA, as defined by McLeodUSA, further removes the effects of other
income and expense, and restructuring and impairment charges. Management removes the effects of other income and expense,
and restructuring and impairment charges from Adjusted EBITDA because it does not believe that such items are representative
of the core operating results of the Company’s ongoing competitive telecommunications activities. For a facilities-based
telecommunications services provider like McLeodUSA with high initial capital investments required in order to gain entry to
the industry, management believes that omitting depreciation and amortization from Adjusted EBITDA provides a relevant and
useful measure of the Company’s core operating performance and enhances comparability between periods. Management
believes that non-GAAP measures such as Adjusted EBITDA are commonly reported and used by analysts, investors and other
interested parties in the telecommunications industry. Adjusted EBITDA is reconciled to net loss, the most comparable GAAP
measure, within the table presented below. McLeodUSA’s use of Adjusted EBITDA may not be comparable to similarly titled
measures used by other companies in the telecommunications industry. The use of Adjusted EBITDA is not intended to replace
measures of financial performance reported in accordance with accounting principles generally accepted in the United States.
Three months ended
(In millions) June 30, 2005 Mar 31, 2005 June 30, 2004
Reconciliation of Adjusted EBITDA:
Net loss....................................................................... $ (268.0) $ (97.5) $ (82.2)
Interest expense .......................................................... 19.5 14.4 11.6
Other non-operating expense...................................... 0.5 0.3 0.5
Restructuring charges (adjustment) ............................ 4.8 2.0 (0.2)
Impairment charge...................................................... 202.5 - -
Depreciation and amortization ................................... 54.5 91.3 88.4
Adjusted EBITDA................................................ $ 13.8 $ 10.5 $ 18.1
Six months ended
(In millions) June 30, 2005 June 30, 2004
Reconciliation of Adjusted EBITDA:
Net loss...................................................................................... $ (365.6) $ (173.7)
Interest expense ......................................................................... 33.9 22.8
Other non-operating expense..................................................... 0.8 0.9
Restructuring charges (adjustment) ........................................... 6.9 (0.2)
Impairment charge..................................................................... 202.5 -
Depreciation and amortization .................................................. 145.8 178.6
Adjusted EBITDA............................................................... $ 24.3 $ 28.4
Gross margin is another financial measure that management uses to evaluate operating performance. Gross margin, which is
calculated as revenues less cost of service, excludes depreciation and amortization expenses. Cost of service includes
expenses directly associated with providing telecommunications services to its customers. Costs classified as cost of service
include, among other items, the cost of connecting customers to the McLeodUSA network via leased facilities, the costs paid
to third party providers for interconnect access and transport services, the costs of leasing components of network facilities
and the cost of fiber related to sales and leases of network facilities. Gross margin is reconciled to net loss, the most
comparable GAAP measure, within the table presented below.
Three months ended
(In millions) June 30, 2005 Mar 31, 2005 June 30, 2004
Reconciliation of Gross Margin:
Net loss....................................................................... $ (268.0) $ (97.5) $ (82.2)
Interest expense .......................................................... 19.5 14.4 11.6
Other non-operating expense...................................... 0.5 0.3 0.5
Restructuring charges ................................................. 4.8 2.0 (0.2)
Impairment charge...................................................... 202.5 - -
Depreciation and amortization ................................... 54.5 91.3 88.4
Selling, general and administrative ............................ 53.7 56.7 68.5
Gross Margin ........................................................ $ 67.5 $ 67.2 $ 86.6
Six months ended
(In millions) June 30, 2005 June 30, 2004
Reconciliation of Gross Margin:
Net loss...................................................................................... $ (365.6) $ (173.7)
Interest expense ......................................................................... 33.9 22.8
Other non-operating expense..................................................... 0.8 0.9
Restructuring charges (adjustment) ........................................... 6.9 (0.2)
Impairment charge..................................................................... 202.5 -
Depreciation and amortization .................................................. 145.8 178.6
Selling, general and administrative ........................................... 110.4 144.2
Gross Margin ....................................................................... $ 134.7 $ 172.6
Some of the statements in this press release include statements about our future expectations. Statements that are not historical
facts are “forward-looking statements” for the purpose of the safe harbor provided by Section 21E of the Exchange Act and
Section 27A of the Securities Act. Such statements may include projections of financial and operational results and goals,
including revenue, EBITDA, Adjusted EBITDA, profitability, savings and cash. In some cases, you can identify these so-called
“forward-looking statements” by our use of words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,”
“estimate,” “predict,” “project,” “intend” or “potential” or the negative of those words and other comparable words. These
forward-looking statements are subject to known as well as unknown risks and uncertainties that may cause actual results to
differ materially from our expectations. Our expectations are based on various factors and assumptions and reflect only our
predictions. Factors that could cause actual results to differ materially from the forward-looking statements include
technological, regulatory, public policy or other developments in our industry, availability and adequacy of capital resources,
our ability to continue as a going concern, our ability to implement a strategic transaction or a capital restructuring, current and
future economic conditions, the existence of strategic alliances, our ability to generate cash, our ability to implement process
and network improvements, our ability to attract and retain customers, our ability to migrate traffic to appropriate platforms and
changes in the competitive climate in which we operate. These and other risks are described in more detail in our most recent
Annual Report on Form 10-K filed with the SEC. The Company undertakes no obligation to update publicly any forwardlooking
statements, whether as a result of future events, new information or otherwise.
Contact:
McLeodUSA Incorporated, Cedar Rapids, IA
Investor Contact: Bryce Nemitz
Press Contact: Bruce Tiemann
Phone: [phone]
McLeodUSA Incorporated and Subsidiaries
Condensed Consolidated Statements of Operations
(In millions, except per share data)
(UNAUDITED)
Three months ended Three months ended
June 30, 2005 June 30, 2004
Revenue $ 159.7 $ 191.9
Operating expenses:
Cost of service (exclusive of depreciation and amortization
shown separately below) 92.2 105.3
Selling, general and administrative 53.7 68.5
Depreciation and amortization 54.5 88.4
Impairment charge 202.5 -
Restructuring charges (adjustment) 4.8 (0.2)
Total operating expenses 407.7 262.0
Operating loss (248.0) (70.1)
Nonoperating expense:
Interest expense, net of amounts capitalized (19.5) (11.6)
Other expense (0.5) (0.5)
Total nonoperating (expense) income (20.0) (12.1)
Net loss $ (268.0) $ (82.2)
Preferred stock dividend (0.4) (0.8)
Net loss applicable to common shares $ (268.4) $ (83.0)
Basic and diluted loss per common share $ (0.86) $ (0.28)
Weighted average common shares outstanding 313.2 292.2
McLeodUSA Incorporated and Subsidiaries
Condensed Consolidated Statements of Operations
(In millions, except per share data)
(UNAUDITED)
Six months ended Six months ended
June 30, 2005 June 30, 2004
Revenue $ 320.2 $ 385.5
Operating expenses:
Cost of service (exclusive of depreciation and amortization
shown separately below) 185.5 212.9
Selling, general and administrative 110.4 144.2
Depreciation and amortization 145.8 178.6
Impairment charge 202.5 -
Restructuring charges (adjustment) 6.9 (0.2)
Total operating expenses 651.1 535.5
Operating loss (330.9) (150.0)
Nonoperating expense:
Interest expense, net of amounts capitalized (33.9) (22.8)
Other expense (0.8) (0.9)
Total nonoperating expense (34.7) (23.7)
Net loss $ (365.6) $ (173.7)
Preferred stock dividend (0.8) (1.6)
Net loss applicable to common shares $ (366.4) $ (175.3)
Basic and diluted loss per common share $ (1.18) $ (0.60)
Weighted average common shares outstanding 310.8 291.6
McLeodUSA Incorporated and Subsidiaries
Condensed Consolidated Balance Sheets
(In millions)
June 30, 2005 December 31, 2004
(unaudited)
ASSETS
Current Assets
Cash and cash equivalents $ 33.4 $ 50.0
Trade receivables, net 54.9 58.6
Prepaid expense and other 14.7 19.9
Total Current Assets 103.0 128.5
Non-current Assets
Property and equipment, net 454.4 728.7
Other intangibles, net 98.2 144.9
Other non-current assets 18.4 23.7
Total Non-current Assets 571.0 897.3
Total Assets $ 674.0 $ 1,025.8
LIABILITIES AND EQUITY
Current Liabilities
Current maturities of long-term debt $ 777.3 $ 49.5
Accounts payable 36.7 39.6
Deferred revenue, current portion 6.8 6.8
Other current liabilities 110.0 95.1
Total Current Liabilities 930.8 191.0
Long-term Liabilities
Long-term debt, excluding current maturities - 727.8
Deferred revenue less current portion 17.9 17.0
Other long-term liabilities 62.3 61.4
Total Long-term Liabilities 80.2 806.2
Redeemable Convertible Preferred Stock 43.0 75.4
Stockholders` Equity (380.0) (46.8)
Total Liabilities and Equity $ 674.0 $ 1,025.8
McLeodUSA Incorporated and Subsidiaries
Selected Telecommunications Statistical Data
6/30/04 3/31/05 6/30/05
Active central offices 1,692 1,647 1,608
Collocations 696 699 698
Switches owned
CO / LD 39 39 38
ATM / Frame Relay 38 38 38
DSLAMs installed 435 432 432
Total Competitive:
Customers 369,282 337,358 332,461
Access Units / Customer 2.8 2.8 2.8
Revenue per Customer / Month
Local $ 111.97* $ 100.51 $ 101.15
Long distance 30.11 33.29 33.50
Private line & data 32.11 32.49 32.88
Total $ 174.19 $ 166.29 $ 167.53
Platform Distribution
Resale 4% 4% 4%
UNE-M/P 27% 24% 22%
UNE-L 69% 72% 74%
Total 100% 100% 100%
*Excluding second quarter rate settlement, local revenue per customer was $105.67.

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FOR IMMEDIATE RELEASE
McLeodUSA Announces Resignation of Officers
• Chris Davis resigns as CEO; remains Chairman of the Board of Directors
• Ken Burckhardt resigns as CFO and Director
• Company proceeding with plans for a capital restructuring with no recovery
expected for Preferred or Common Stockholders
CEDAR RAPIDS, Iowa — August 15, 2005 — McLeodUSA Incorporated, one of the nation’s largest
independent, competitive telecommunications services providers, today announced that, in connection
with its anticipated capital restructuring and change of ownership, Chris Davis, Chairman of the Board of
Directors and Chief Executive Officer of the Company resigned as Chief Executive Officer effective
August 12, 2005. Ms. Davis will remain as Chairman of the Board of Directors. Also effective on August
12, Ken Burckhardt resigned from his positions as Executive Vice President and Chief Financial Officer,
and a Director of the Company.
The Company has appointed Stan Springel of Alvarez & Marsal as Chief Restructuring Officer. Alvarez
& Marsal is a well-known firm that provides management and consulting services for companies going
through a restructuring process. Joe Ceryanec, Group Vice President - Controller and Treasurer of the
Company has been appointed as the acting Chief Financial Officer.
As previously announced, the Company is working with its lenders to effectuate a capital restructuring
where the lenders would convert a substantial portion of their debt to equity and become the Company’s
stockholders. None of the restructuring alternatives under evaluation provide for any recovery for the
Company’s current preferred or common stockholders. Therefore, the Company does not expect holders
of its preferred or common stock to receive any recovery in a capital restructuring. In addition, there can
be no assurance that the Company will be able to reach an agreement with its lenders regarding a capital
restructuring on terms and conditions acceptable to the Company prior to the end of the forbearance period
on September 9, 2005. Under the forbearance agreement, the lenders have agreed not to take any action as
a result of non-payment by the Company of certain scheduled principal amortization and interest payments
that are due on or before September 9, 2005.
The Company continues to believe that by not making principal and interest payments on the credit
facilities, cash on hand together with cash flows from operations are sufficient to maintain operations in
the ordinary course without disruption of services or negative impact on its customers or suppliers.
McLeodUSA remains committed to continuing to provide the highest level of service to its customers
and to maintaining its strong supplier relationships.
About McLeodUSA
McLeodUSA provides integrated communications services, including local services, in 25 Midwest,
Southwest, Northwest and Rocky Mountain states. The Company is a facilities-based
telecommunications provider with, as of June 30, 2005, 38 ATM switches, 38 voice switches, 698
collocations, 432 DSLAMs and approximately 2,072 employees. Visit the Company’s Web site at
www.mcleodusa.com
Some of the statements in this press release include statements about our future expectations. Statements that are not historical
facts are “forward-looking statements” for the purpose of the safe harbor provided by Section 21E of the Exchange Act and
Section 27A of the Securities Act. Such statements may include projections of financial and operational results and goals,
including revenue, EBITDA, Adjusted EBITDA, profitability, savings and cash. In some cases, you can identify these so-called
“forward-looking statements” by our use of words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,”
“estimate,” “predict,” “project,” “intend” or “potential” or the negative of those words and other comparable words. These
forward-looking statements are subject to known as well as unknown risks and uncertainties that may cause actual results to
differ materially from our expectations. Our expectations are based on various factors and assumptions and reflect only our
predictions. Factors that could cause actual results to differ materially from the forward-looking statements include
technological, regulatory, public policy or other developments in our industry, availability and adequacy of capital resources,
our ability to continue as a going concern, our ability to implement a strategic transaction or a capital restructuring, current and
future economic conditions, the existence of strategic alliances, our ability to generate cash, our ability to implement process
and network improvements, our ability to attract and retain customers, our ability to migrate traffic to appropriate platforms and
changes in the competitive climate in which we operate. These and other risks are described in more detail in our most recent
Annual Report on Form 10-K filed with the SEC. The Company undertakes no obligation to update publicly any forwardlooking
statements, whether as a result of future events, new information or otherwise.
Contact:
McLeodUSA Incorporated, Cedar Rapids, IA
Investor Contact: Bryce Nemitz
Press Contact: Bruce Tiemann
Phone: [phone]

[Trader007007]

[Trader007007]

FOR IMMEDIATE RELEASE
McLeodUSA Announces Continued Extension of
Forbearance Agreement with Lenders
• Company continues preparations for capital restructuring
• No recovery expected for preferred or common stockholders
CEDAR RAPIDS, Iowa – September 30, 2005 – McLeodUSA Incorporated, one of the nation’s
largest independent, competitive telecommunications services providers, today announced that the
Company and its lenders have agreed to a further extension through October 31, 2005, of the
forbearance agreement initially entered into on March 16, 2005, and subsequently extended to
September 30, 2005. As previously announced, the Company has been negotiating the terms of a
capital restructuring with its lenders. The parties agreed to this continued extension of the forbearance
agreement in order to permit completion of these negotiations. Under the terms of the forbearance
agreement, the lenders continue to agree not to take any action as a result of non-payment by the
Company of certain principal and interest payments and any related events of default through October
31, 2005.
While the Company continues to make significant progress in completing these negotiations, there can
be no assurances that the Company will be able to reach an agreement with its lenders regarding a
capital restructuring on terms and conditions acceptable to the Company prior to the end of the
forbearance period.
Also as previously announced, the capital restructuring alternatives being negotiated with the
Company’s lenders do not involve any recovery for the Company’s current preferred or common
stockholders. Accordingly, the Company does not expect its preferred or common stockholders to
receive any recovery in a capital restructuring.
The Company believes that by not making principal and interest payment on the credit facilities, cash
on hand together with cash flows from operations are sufficient to maintain operations in the ordinary
course without disruption of services or negatively impacting its customers or vendors. The Company
remains committed to continuing to provide the highest level of service to its customers and to
maintaining its strong supplier relationships.
About McLeodUSA
McLeodUSA provides integrated communications services, including local services, in 25 Midwest,
Southwest, Northwest and Rocky Mountain states. The Company is a facilities-based
telecommunications provider with, as of June 30, 2005, 38 ATM switches, 39 voice switches, 698
collocations and 432 DSLAMs. The Company today has approximately 1,720 employees. Visit the
Company’s Web site at www.mcleodusa.com
Some of the statements in this press release include statements about our future expectations. Statements that are not historical
facts are “forward-looking statements” for the purpose of the safe harbor provided by Section 21E of the Exchange Act and
Section 27A of the Securities Act. Such statements may include projections of financial and operational results and goals,
including revenue, EBITDA, Adjusted EBITDA, profitability, savings and cash. In some cases, you can identify these so-called
“forward-looking statements” by our use of words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,”
“estimate,” “predict,” “project,” “intend” or “potential” or the negative of those words and other comparable words. These
forward-looking statements are subject to known as well as unknown risks and uncertainties that may cause actual results to differ
materially from our expectations. Our expectations are based on various factors and assumptions and reflect only our predictions.
Factors that could cause actual results to differ materially from the forward-looking statements include technological, regulatory,
public policy or other developments in our industry, availability and adequacy of capital resources, our ability to continue as a
going concern, our ability to implement a strategic transaction or a capital restructuring, current and future economic conditions,
the existence of strategic alliances, our ability to generate cash, our ability to implement process and network improvements, our
ability to attract and retain customers, our ability to migrate traffic to appropriate platforms and changes in the competitive climate
in which we operate. These and other risks are described in more detail in our most recent Annual Report on Form 10-K filed
with the SEC. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of
future events, new information or otherwise.
Contact:
McLeodUSA Incorporated, Cedar Rapids, IA
Investor Contact: Bryce Nemitz
Press Contact: Bruce Tiemann
Phone: [phone]

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Kennt jemand den Grund für die +33% in USA gestern?

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FOR IMMEDIATE RELEASE
McLeodUSA Solicits Lender Consent for Debt Restructuring
and Receives Commitments for New Financing
• Customers, Employees and Trade Creditors will be Unaffected
• Bank Lending Group to Provide Additional Financing
• No Recovery for Preferred or Common Stockholders
CEDAR RAPIDS, Iowa — October 19, 2005 — McLeodUSA Incorporated, one of the nation’s largest
independent, competitive telecommunications services providers, announced today that it has begun the
solicitation process for approval from the Company’s lenders for a restructuring of its approximately
$777.3 million in bank debt plus accrued interest. If the required approvals are received, the restructuring
will be accomplished through a prepackaged plan of reorganization for the Company and its subsidiaries
pursuant to a Chapter 11 bankruptcy filing. The Company expects to continue to pay its employees and
trade creditors in the normal course of business without disruption. Customers will be unaffected by the
restructuring, and the Company will maintain its commitment to the highest levels of customer service and
quality.
Amounts outstanding under the Company’s credit facilities as of September 30, 2005 total approximately
$773.3 million, comprised of approximately $100 million in funded Senior Debt and approximately
$677.3 million of Junior Debt, plus accrued interest. Under the terms of the prepackaged plan, the existing
Senior Debt will be converted into a $100 million term facility, and obligations under the Junior Debt will
be converted into 100% of the Company’s equity. All of the Company’s existing Preferred Stock and
Common Stock will be cancelled, and holders of that stock will have no recovery.
Stan Springel, Chief Restructuring Officer of McLeodUSA, stated, “After considering the available
alternatives, we have concluded, in consultation with our lenders, that a consensual prepackaged
reorganization under Chapter 11 of the bankruptcy code represents the best way to restructure our
obligations under our credit facilities. This restructuring will significantly improve the Company’s
financial position thereby strengthening our ability to execute the VoIP product growth strategy launched
earlier this year while continuing to provide the high quality voice and data services that our customers
have come to expect.”
In addition, the Company’s lenders have agreed to provide debtor-in-possession financing of up to $50
million that will be replaced with a $50 million revolving credit facility upon final confirmation of the
plan of reorganization.
“While substantial work remains, once this financial restructuring is complete, McLeodUSA will emerge a
financially stronger and more stable company,” stated Joseph Ceryanec, acting Chief Financial Officer.
“We very much appreciate the continued dedication of our employees, vendors and customers as we
continue to work through this process. We believe that this proposed restructuring will leave us even
better able to provide the strong service, and innovative, technologically advanced products that our
customers have come to expect.”
If the required lender approvals are received, the Company expects to promptly file the Chapter 11
voluntary bankruptcy cases and plan of reorganization. The Company will seek approval and
consummation of the plan as quickly as possible; however, the completion and success of the debt
restructuring will depend on many factors, including approval by the bankruptcy court of the Company’s
plan of reorganization, completion of the proposed financing and receiving the necessary regulatory
approvals. Therefore, the specific timeframe for completing the restructuring process cannot be predicted
at this time.
About McLeodUSA
McLeodUSA provides integrated communications services, including local services, in 25 Midwest,
Southwest, Northwest and Rocky Mountain states. The Company is a facilities-based
telecommunications provider with, as of June 30, 2005, 38 ATM switches, 39 voice switches, 698
collocations and 432 DSLAMs. The Company today has approximately 1,720 employees. Visit the
Company’s Web site at www.mcleodusa.com
Some of the statements in this press release include statements about our future expectations. Statements that are not historical
facts are “forward-looking statements” for the purpose of the safe harbor provided by Section 21E of the Exchange Act and
Section 27A of the Securities Act. Such statements may include projections of financial and operational results and goals,
including revenue, EBITDA, Adjusted EBITDA, profitability, savings and cash. In some cases, you can identify these so-called
“forward-looking statements” by our use of words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,”
“estimate,” “predict,” “project,” “intend” or “potential” or the negative of those words and other comparable words. These
forward-looking statements are subject to known as well as unknown risks and uncertainties that may cause actual results to differ
materially from our expectations. Our expectations are based on various factors and assumptions and reflect only our predictions.
Factors that could cause actual results to differ materially from the forward-looking statements include technological, regulatory,
public policy or other developments in our industry, availability and adequacy of capital resources, our ability to continue as a
going concern, our ability to implement a strategic transaction or a capital restructuring, current and future economic conditions,
the existence of strategic alliances, our ability to generate cash, our ability to implement process and network improvements, our
ability to attract and retain customers, our ability to migrate traffic to appropriate platforms and changes in the competitive climate
in which we operate. These and other risks are described in more detail in our most recent Annual Report on Form 10-K filed
with the SEC. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of
future events, new information or otherwise.
Contact:
McLeodUSA Incorporated, Cedar Rapids, IA
Investor Contact: Bryce Nemitz
Press Contact: Bruce Tiemann
Phone: [phone]

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Jetzt geht es aber wieder kräftig nach oben
Da hat sich mein Einstieg gestern aber richtig gelohnt

[taschutz]

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Meinungen, Meinungen, Meinungen !!!!
Aber nur Positive
Sonst werd ich

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Schön wärs!!