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Johkal
Cool Cat
Premium,MVM
join:2002-11-13
Happy Valley
clubs:
 ·Comcast Digital Vo..
 ·Comcast
·Vonage
| reply to kewlkeed
Re: Is Vonage Toast?
said by kewlkeed  :Good riddens as far as I'm concerned. Horrible company, horrible customer treatment, horrible all around. I bailed off them a year ago and will never EVER look back. Best choice I ever made to dump them. Worst cash ever spent when I was with them. If you bailed a year ago, why are you still lurking here? 
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Write me up a 125.......I Can't Drive 55 »redrocker.com/ »cabowabo.com/ | |
ImBatman
join:2004-04-21
Lancaster, CA
| reply to RockyBB
I hope they are.
Ok, here's the deal. My service sucked. Big deal. That could have been an isolated case, where I live, whatever.
Vonage made me some promises that while I might agree, they should not have made, they did. However, when it came time to deliver, they renigged. Even after listening to the recordings, a rep from the corporate office admitted that I was indeed made those promises, and despite promising me, "If that was what was offered, we will honor it, because it was promised to you", even after that, she came back and said, "We cannot do that, because its against our policy".
You make an agreement, you keep it. You don't ALL bets are off.
Therefore, Vonage can go belly up and I won't care one bit. They deserve anything bad that happens to them. | |
ImBatman
join:2004-04-21
Lancaster, CA
| reply to Johkal
said by Johkal :said by kewlkeed :Good riddens as far as I'm concerned. Horrible company, horrible customer treatment, horrible all around. I bailed off them a year ago and will never EVER look back. Best choice I ever made to dump them. Worst cash ever spent when I was with them. If you bailed a year ago, why are you still lurking here? My guess? The same reason I'm here. To warn people just how bad Vonage is. | |
RockyBB
Premium
join:2005-01-31
Longmont, CO
| reply to RockyBB
looks like Vonage got their financing problems taken care of. Just google VONAGE and select the News option at the top for several press citations. here's one: »www.businessweek.com/ap/financia···MKO0.htm
Vonage signs definitive deal on debt refinancing
HOLMDEL, N.J.
Internet telephone service Vonage Holdings Corp. on Monday said it had signed a definitive deal with hedge fund Silver Point Finance LLC and other lenders to refinance its convertible debt with new credit facilities and debt worth $220.3 million.
The need for refinancing has loomed over Vonage all year, as it struggles with stagnant subscriber numbers and competition from cable company phone offerings. It signed a letter of intent for refinancing in April, but the terms have been renegotiated since then.
The Holmdel, N.J.-based company plans to use the borrowings, plus cash on hand, to buy back up to $253.5 million of its convertible notes in a tender offer that began on July 30.
The new package consists of a $130.3 million senior secured first lien credit facility, a $72 million senior secured second lien credit facility and $18 million in senior secured third lien convertible notes.
Vonage needs shareholder approval for the deal, but said has obtained binding agreements for enough votes to get it approved at a special shareholder meeting on Nov. 3.
"Today's agreement represents a significant milestone in positioning Vonage for the future," said John Rego, Vonage's chief financial officer, in a statement.
Silver Point, based in Greenwich, Conn., has a history of lending to companies in distress. It lent money to Krispy Kreme Doughnuts Inc. in 2005. Earlier this year, it lent to casino owner Tropicana Entertainment LLC.
Vonage ended June with 2.6 million subscribers.
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