COLT Telecom calls 7 5/8% notes due 2008

By Laura Lutz

Des Moines, July 20 - COLT Telecom Group SA issued a notice of redemption for its €250.4 million outstanding 7 5/8% senior notes due 2008.

COLT will pay the principal amount plus accrued interest for the notes on Aug. 21.

The aggregate amount payable will be €251.5 million.

The early redemption will save €24 million of net interest before the July 28, 2008 normal maturity date of the notes.

London-based COLT provides data, voice and managed services.

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