STOCKHOLM, Sweden, Feb. 9, 2004 (PRIMEZONE) -- Transcom WorldWide S.A., the European outsourcing specialist, today announced that it has fully repaid the convertible loan from Industriforvaltnings AB Kinnevik.
On May 15, 2001, Transcom entered into an agreement with Industriforvaltnings AB Kinnevik for an aggregate principal of Euro 27.5 million in convertible loans to be repaid at the latest by May 15, 2004.
As at September 30, 2003, Euro 16.7 million of the convertible loan facility had been drawn down. During the fourth quarter 2003, the amount outstanding was reduced by Euro 1.7 million and in January this year it was reduced by a further Euro 2.5 million. In early February this year the remaining amount outstanding of Euro 12.5 million was repaid.
Transcom has repaid the convertible loan through a bank loan with Banque et Caisse d'Epargne de l'Etat. The bank loan is over 36 months and is repayable in three installments on the yearly anniversary of the loan and has an interest rate that is fixed over three years. Transcom will benefit from a material saving in interest charges as a result of this action.
For further information please contact: Keith Russell, President and CEO + 352 27 755 000 Stephen Downing, CFO + 352 27 755 000 Dwayne Taylor, Investor & Press Enquiries + 44 20 7321 5010
Transcom WorldWide is a rapidly expanding Customer Relationship Management (CRM) solution provider, with 38 centers employing more than 8,200 people delivering services to 19 countries -- Luxembourg, Sweden, France, Denmark, Germany, Finland, Italy, Switzerland, Norway, the Netherlands, Spain, Austria, Morocco, Portugal, Poland, Estonia, Latvia, Lithuania and the UK.
The company provides CRM solutions for companies in a wide range of industry sectors, including telecommunications and e-commerce, travel & tourism, retail, financial services and utilities. Transcom offers clients a broad array of relationship management services, including inbound and outbound call handling, Interactive Voice Response, Internet Services, e-mail processing and fax broadcast. Client programs are tailor-made and range from single applications to complex programs, which are offered on a country-specific or international basis in up to 38 languages.
Transcom WorldWide S.A.'A' and `B' shares are listed on the Stockholmsborsen O-List under the symbols TWWA and TWWB.
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