Alaska Communications Systems to redeem 13% discount debentures

New York, May 17 - Alaska Communications Systems Group Inc. said that it will redeem in full the $17.3 million of outstanding principal of its 13% senior discount debentures due May 15, 2011.

Alaska Communications Group, an Anchorage, Alaska-based integrated telecommunications company serving customers in that state, said that the redemption would take place on June 14. The company will pay a total call premium of $1.1 million to redeem the outstanding notes as well as accrued interest on the notes.

It plans to fund the redemption with cash on hand.

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