London, UK, Aug. 26, 2004 (PRIMEZONE) -- 26 August 2004
COLT ANNOUNCES GBP16 MILLION BOND BUYBACK
COLT Telecom Group plc (COLT), a leading pan-European provider of business communications solutions and services, said today that it had purchased a further GBP16 Million of COLT bonds for a cash outlay of GBP16 Million since 6 May 2003.
The purchases were undertaken by COLT Telecom Finance Limited and COLT Telecom Group plc as set out below. COLT Telecom Finance Limited and COLT Telecom Group plc have no intention to sell the notes they have purchased and arrangements may be made in due course to cancel such notes.
Further additional purchases of bonds may be made.
The following bonds have been purchased.
EUR2.6 Million face amount of the EUR76.7 Million 8.875% Senior Notes due November 2007;
EUR18.8 Million accreted principal amount of the EUR306.8 Million 2% Senior Convertible Notes due August 2005; and
EUR2.3 Million accreted principal amount of the EUR368 Million 2% Senior Convertible Notes due December 2006.
In aggregate COLT has now purchased or redeemed:
All of its $314 Million 12% Senior Discount Notes due December 2006;
GBP11.8 Million face amount of its GBP50 Million 10.125% Senior Notes due November 2007;
EUR15.3 Million face amount of its EUR76.7 Million 8.875% Senior Notes due November 2007;
EUR56.4 Million face amount of its EUR306.8 Million 7.625% Senior Notes due July 2008;
EUR57.8 Million face amount of its EUR320 Million 7.625% Senior Notes due December 2009;
EUR37.4 Million accreted principal amount of its EUR306.8 Million 2% Senior Convertible Notes due August 2005;
EUR101.4 Million accreted principal amount of its EUR295 Million 2% Senior Convertible Notes due March 2006;
EUR98.3 Million accreted principal amount of its EUR368 Million 2% Senior Convertible Notes due December 2006; and
EUR119.4 Million accreted principal amount of its EUR402.5 Million 2% Senior Convertible Notes due April 2007.
This information is provided by RNS
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