Asia Global Crossing - formed last November as a joint venture between Global Crossing, Microsoft and Softbank - had been hoping to raise up to $900 million from a Nasdaq listing and $400 million from high yield debt. However, a decision to push the two issues back until September was taken this week after the company received 'comments' from the SEC as a result of its recent filing.
As one banker puts it The company knew that it only had a short window to access the market before it closes for the summer and when it realized it was going to miss it, it decided...
