Brazil's Telesp board opts for June 7 redemption of unsecured bonds

By Jennifer Chiou

New York, May 20 - Telecomunicacoes de Sao Paulo (Telesp) said that its board of directors decided at a Wednesday meeting to go forward with the early redemption of all of the company's unsecured bonds.

The redemption date is June 7.

Telesp said it will pay the unit face value of the bonds plus a premium.

The fixed-line telephony and data service provider in the Brazilian State of Sao Paulo said that questions may be directed to Norair Ferreira do Carmo (55 11 3549-7200).

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