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 September, 2005
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)
COLT announces early redemption of 2% Senior Convertible Notes due 2006 (The
"Notes")
21 September 2005 - COLT announced today that it has given notice of the
redemption of all of the outstanding 2% Senior Convertible Notes due 2006. The
redemption will be at the principal amount of the Notes (EUR166,549,000) plus
accreted and accrued interest and will be funded out of COLT's cash and liquid
resources. The aggregate amount payable will be approximately GBP132.5 million.
The redemption will take place on 21 October 2005.
Commenting on the redemption, Tony Bates, Chief Administrative and Financial
Officer said: "The early redemption of these Notes reflects the Board's
confidence in the financial strength of COLT. We are firmly on track to be free
cash flow positive for the second half of the year and thereafter on a
sustainable annual basis."
The early redemption of these Notes will save approximately GBP1.25 million of
net interest between now and the normal maturity date of the Notes of 29 March
2006.
The early redemption of these Notes brings the total amount spent by COLT on
redeeming or buying back bonds to more than GBP560 million since October 2004.
About COLT
COLT is a leading European provider of business communications. COLT specialises
in providing data, voice and managed services to midsize and major businesses
and wholesale customers. It has more than 50,000 customers across all industry
sectors. COLT owns and operates a 13-country, 20,000km network that includes
metropolitan area networks in 32 major European cities with direct fibre
connections into 10,000 buildings and 13 COLT data centres.
COLT Telecom Group plc, COLT's parent company, is listed on the London Stock
Exchange (CTM.L) and NASDAQ (COLT). Information about COLT and its services can
be found at www.colt.net
For further information please contact:
Luke Glass
Tel +44 20 7390 3681
Email:luke.glass@colt.net
Gill Maclean
Tel: +44 20 7863 5314
Email: gill.maclean@colt.net
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: 21 September, 2005 COLT Telecom Group plc
By: ___Jane Forrest___
Jane Forrest
Company Secretary