Ptek to redeem $10 million 5¾% convertibles

New York, Oct. 27 - Ptek Holdings, Inc. said it will redeem $10 million principal amount of its 5¾% convertible notes due July 2004 on Nov. 17.

On completion of the redemption, the Atlanta provider of business communications services will have $40 million of the convertibles outstanding.

Ptek will fund the redemption with cash on hand.

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