Further Debt Reduction

8 Oct 2008 07:00



8 October 2008

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 $3.6m of its senior debt at a discount to its face value.

As of 7 October 2008 the total outstanding senior debt stood at $96.5m. 

Greg Carter, CEO of Billing Services Group, said: "The dislocation in the credit markets has created a strong buying opportunity for BSG, enabling the Company to repurchase its senior debt at less than the issuance price. BSG continues to reduce interest expense by rapid debt amortization and pursue all other means to create and maximise shareholder value."

Enquiries: 

Billing Services Group Limited +1 210 949 7000 Greg Carter Christopher R. Smith 

Evolution Securities Limited +44 (0)20 7071 4300 Stuart Andrews 

The Hogarth Partnership +44 (0)20 7645 3988 Julian Walker