MEW YORK (Bloomberg) ? Global Crossing Ltd., the network operator that exited bankruptcy in December, secured a $100 million bridge loan from majority owner Singapore Technologies Telemedia to fund operations this year.

The credit agreement, which expires December 31, allows Hamilton, Bermuda-based Global Crossing to borrow in phases over the next several months, the company said in a statement.

The loan from government-owned Singapore Technologies, which paid $250 million for its stake in Global Crossing and last year agreed to buy $200 million of notes from creditors, contains conditions related to the company?s accounting review. Global Crossing last month said it would have to restate 2003 results after underestimating some liabilities.

Global Crossing must provide Singapore Technologies with monthly financial statements and is barred from borrowing money from other lenders, Global Crossing said in a US Securities and Exchange Commission filing.

During the term of the loan, the company agreed not to pay bonuses to its executives, directors and employees except for sales commissions and worker recognition awards, the filing said.

Global Crossing has fired its auditor, Grant Thornton LLP, which subsequently withdrew its approval of Global Crossing?s results from 2001 to 2003. Earlier this month, the company retained Deloitte & Touche LLP to do an independent accounting review of its financial statements. Global Crossing also asked Grant Thornton to evaluate a planned revision of 2003 results.

Shares of Global Crossing fell 19 cents to $12.16 at 12:19 p.m. New York time in Nasdaq Market trading. The stock, which Nasdaq has warned may be delisted because the company lacks audited financial statements, had fallen 60 percent this year.