Arch Wireless redeems $20 million 10% notes, calls remaining $10 million

New York, July 30 - Arch Wireless, Inc. said that its hat wholly owned subsidiary, Arch Wireless Holdings, Inc., had completed its previously announced optional redemption of $20 million of its 10% senior subordinated secured notes. Holders of record as of July 16 received par value for their notes.

Arch further announced that it had notified The Bank of New York, as trustee, of its intention to redeem the remaining $10 million principal amount of the 10% notes on Sept. 2.

Holders of record as of Aug. 18 will receive par value for their notes.

As previously announced, Arch, a Westborough, Mass.-based wireless messaging and paging company, restructured in 2002 and issued $200 million of the 10% notes on May 29, 2002. Since then, it has redeemed a total of $190 million principal amount of the notes at par value in a series of optional and mandatory redemption transactions.

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