Marconi to buy back final $73 million of 8% notes

Pittsburgh, Aug. 19 - Marconi Corp. plc will buy back the final $73 million of its 8% guaranteed senior notes due 2008 for an $80.8 million total cash outlay, excluding accrued interest and fees, according to a company news release.

The previously announced Sept. 1 mandatory redemption of the group's senior notes will complete the paydown following the Aug. 23 settlement of this buyback, the release said.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.