Billing Services pays down another $3.6 million under senior debt facility

By Jennifer Chiou

New York, Oct. 8 - Billing Services Group Ltd. said it has made an additional $3.6 million paydown under its senior debt facility.

As announced on Oct. 1, the company had made $12.4 million in payments since Jan. 1, 2008.

As of Oct. 7, $96.5 million remains outstanding.

"The dislocation in the credit markets has created a strong buying opportunity for Billing Services Group, enabling the company to repurchase its senior debt at less than the issuance price," Greg Carter, chief executive officer of Billing Services Group, said in a news release.

"Billing Services Group continues to reduce interest expense by rapid debt amortization and pursue all other means to create and maximize shareholder value."

Billing Services is a Glenview, Ill., provider of clearing, settlement, payment and financial risk management services to the telecommunications industry.

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