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Article: Eschelon Telecom, Inc. Completes Bond Redemption.
- Article from:
- Business Wire
- Article date:
- September 19, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MINNEAPOLIS -- Eschelon Telecom, Inc. (NASDAQ:ESCH) -- Eschelon Telecom, Inc., a provider of voice, data, Internet services and business telephone systems, announced today that it completed on September 15 its previously-announced redemption of 35 percent of its outstanding 8 3/8% senior second secured notes due 2010.
The company used a portion of the proceeds from its recently completed initial public offering to complete the redemption, which reduced the company's outstanding debt level by $50 million. With the redemption complete, the company's current debt level is now approximately $97 million, including both its senior second secured notes and its capital ...