Flag Telecom to repay all outstanding debt

New York, Jan. 28 - Flag Telecom said it will make an early redemption of its remaining $27.9 million of debt, a step that will leave the company debt free.

The company said the early redemption of the notes will result in interest savings of about $2.4 million over the next two years.

Flag Telecom, a London-based provider of international wholesale network transport and communications services, reorganized under Chapter 11 last year and is now a subsidiary of Indian-based mobile telecommunications operator Reliance Infocomm Ltd.

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