City Telecom redeems another $3 million of 8¾% senior notes due 2015

By Devika Patel

Knoxville, Tenn., Dec. 19 - City Telecom (H.K.) Ltd. said it has bought back and cancelled $3 million more of its $125 million issued 8¾% senior notes due Feb. 1, 2015.

City Telecom paid $3.03 million for the notes, which includes accrued interest.

As previously reported, the company bought back $10.85 million of the notes for $10.99 million, which includes principal and accrued interest, on Dec. 6, $3 million of the notes for $3.04 million on Dec. 7 and $13.85 million of the notes on Dec. 10.

As of Wednesday, the company has bought back $30.70 million of the notes and has $94.30 million in notes outstanding.

City Telecom is Hong Kong's second-largest international direct-dialing operator.

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