COLT announces early redemption of 7.625% Senior Notes due 2009
COLT S.A. further announces that COLT Ltd has applied to the Financial Services Authority, in its capacity as United Kingdom Listing Authority, to cancel the listing on the Official List of the United Kingdom Listing Authority of the Notes with effect from and including 20 April 2009. The application to cancel the listing has been made as a result of the redemption of the Notes in full on 17 April 2009.
The early redemption of these Notes is expected to save approximately EUR 9.7 million of net interest between the redemption date and the maturity date of the Notes of 15 December 2009.
Commenting on the redemption, Tony Bates, Chief Operating Officer and Acting Group CFO, said: “The early redemption of these Notes reflects the Board’s confidence in the financial strength of COLT. Following the successful completion of this redemption, COLT will have no debt and will have redeemed almost €1.7 billion of bonds* since 2004.”
Note* This figure has been calculated at the prevailing exchange rates at the different points of redemption.
COLT is a leading European provider of business communications. COLT specialises in providing data, voice and managed services to major businesses, SMEs and wholesale customers. COLT operates a 13-country, 25,000km network that includes metropolitan area networks in 34 major European cities with direct fibre connections into 16,000 buildings and 18 COLT data centres.
COLT Telecom Group S.A. is listed on the London Stock Exchange (COLT). Information about COLT and its services can be found at www.colt.net.
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