FLAG to Make Early Buy Back Of Indenture Notes

FLAG Telecom notified The Bank of New York, its trustee, of its election to redeem all series of notes issued by the company under the Indenture on 25-August-2003. FLAG will redeem the notes, which have a combined face value of $50.25 million, for a discounted redemption value of $35.25 million and will pay all accrued but unpaid interest. FLAG Telecom its decision is a sign of confidence in its business plan.
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