YOU ARE AT:Archived ArticlesART POSTPONES PRIVATE PLACEMENT TRY

ART POSTPONES PRIVATE PLACEMENT TRY

NEW YORK-Due to unfavorable market conditions, Advanced Radio Telecom Corp. said May 28 it postponed indefinitely its attempt to place privately a $125 million, 10-year debt issue that was scheduled for sale in late May.

“The company intends to pursue other financing alternatives and may reconsider a debt offering when conditions improve,” the company said.

ART, headquartered in Bellevue, Wash., provides wireless broadband telecommunications services using point-to-point microwave transmissions in the 38 GHz portion of the radio-frequency spectrum.

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