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26 Mar 2009 07:00
26 March 2009
Billing Services Group Limited ('BSG' or 'Company')
Further Debt Reduction
BSG, a leading provider of clearing, settlement, payment and financial risk management solutions to the telecommunications industry, today announces the repurchase of $2.3 million of its senior debt at a discount to face value.
At 26 March 2009, total outstanding senior debt stood at $86.7 million.
Greg Carter, CEO of Billing Services Group, said: "The ongoing disruption in the credit markets has again enabled BSG to tactically repurchase another tranche of its senior debt at less than the issuance price. The Company continues to reduce its interest expense, its leverage and pursue all other means to create and maximize shareholder value."
Enquiries:
Billing Services Group Limited +1 210 949 7000
Greg Carter
Norm Phipps
Evolution Securities Limited +44 (0) 20 7071 4300
Stuart Andrews
The Hogarth Partnership +44 (0) 20 7645 3988
Julian Walker
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