Marconi to pay down notes with plant sale proceeds

Pittsburgh, Aug. 16 - Marconi Corp. plc will transfer the proceeds from its $406 million sale of its Outside Plant & Power business to Emerson to its mandatory redemption escrow account and use the proceeds to fund a further paydown of its U.S. dollar-denominated senior secured notes at 110% of par.

Marconi is a London-based global telecommunications equipment, services and solutions company.

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