Marconi Completes Repayment of Restructuring Debt

Marconi completed the full repayment, within 16 months, of the $1.2 billion of debt that it assumed upon completion of its financial restructuring on 19 May 2003. This debt was originally due for repayment by 2008.



Mike Parton, Marconi's CEO, said "The re-emergence of Marconi has been completed with the repayment of the last of the debt that we took on as part of our restructuring. An anticipated annual interest charge of over $100m per annum has been eliminated through the prompt repayment of the debt."http://www.marconi.com