AT&T Pumps $200 Million into AT&T Latin America

MIAMI, Sept. 19 -- AT&T has agreed to contribute an additional $200 million into its majority-owned subsidiary AT&T Latin America. AT&T recently contributed a $100 million credit facility to its Latin American Subsidiary as part of the July merger between AT&T Latin America and FistCom Corp. AT&T Latin America also announced that it would withdraw its SEC registration statement covering the issuance of up to 35 million new shares of its Class A common stock.
We are delighted to have this new financing facility and appreciate the continued strong financial backing from AT&T, said Patricio E. Northland, chairman and CEO of AT&T Latin America. This allows us to maintain a focus on executing our business plan -- including continued expansion of our advanced ATM/IP fiber optic network -- in the high-growth Latin American communications market. We're confident that by successfully executing our plan we can build shareowner value.
AT&T Latin America is a full-service communications provider with operations in five Latin American countries. Specific details concerning the terms and form of the new financing facility were not disclosed.