FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of December, 2004
COLT TELECOM GROUP plc
(Translation of Registrant's Name into English)
Beaufort House
15 St. Botolph Street
London
EC3A 7QN
England
_________________________________
(Address of Principal Executive Offices)
(Indicate by check mark whether the Registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.)
Form 20-F..X... Form 40-F.....
(Indicate by check mark whether the Registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934)
Yes ..... No ..X...
(If "Yes" is marked, indicate below the file number assigned to the Registrant
in connection with Rule 12g3-2(b): 82- ________)
This Form 6-K shall be deemed to be incorporated by reference in the
Registrant's Registration Statement on Form F-3 (Reg. No.333-05972), in the
Registrant's Registration Statement on Form S-8 (Reg. No.333-8362)
14 December 2004
COLT ANNOUNCES EARLY REDEMPTION OF THE GBP50 MILLION 10.125% SENIOR NOTES DUE
2007 AND THE DM150 MILLION 8.875% SENIOR NOTES DUE 2007
COLT Telecom Group plc (COLT) a leading pan-European provider of business
communications solutions and services, announced today that it has given notice
of the redemption of all of the outstanding GBP50 million 10.125% Senior Notes
due 2007 and the DM150 million 8.875% Senior Notes due 2007. The redemptions
will be at the principal amount of the Notes plus accrued interest and will be
funded out of COLT's cash and liquid resources. The aggregate amount payable
will be approximately GBP81.7 million. The redemptions will take place on
21 January 2005.
COLT's Chief Financial Officer, Marina Wyatt said:
"The early redemption of these Notes reflects the Board's confidence in the
financial strength of COLT. Cash flow has improved in 2004 and we expect to be
free cash flow positive on a sustainable basis during 2005. The early redemption
of these Notes will save approximately GBP14.1 million of net interest over the
next three years."
The early redemption of these Notes follows the early redemption of
GBP324 million of Notes on 19 October 2004.
About COLT
COLT Telecom Group plc is a leading pan-European provider of business
communications services. COLT has over 19,000 network services and data centre
solutions customers. The company owns an integrated 20,000 kilometre network
that directly connects 32 major cities in 13 countries augmented with a further
42 points of presence across Europe and 11 Data Solution Centres. COLT supplies
customers across the full spectrum of industry, service and government sectors
with unrivalled end-to-end network security, reliability and service.
COLT Telecom Group plc is listed on the London Stock Exchange (CTM.L) and NASDAQ
(COLT). Information about COLT and its products and services can be found on the
web at www.colt.net
For further information contact:
John Doherty
Director Corporate Communications
Email: jdoherty@colt-telecom.com
Tel: +44 20 7390 3681
Gill Maclean
Head of Corporate Communications
Email: gill.maclean@colt-telecom.com
Tel: +44 20 7863 5314
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Current Report on Form-6K to be signed on its
behalf by undersigned, thereunto duly authorized.
Date: 14 December, 2004 COLT Telecom Group plc
By: ___Jane Forrest___
Jane Forrest
Company Secretary