BCI Announces Court Approval to Pay 11% Notes on September 29, 2004.MONTREAL -- Bell Canada International Inc. ("BCI BCI Bat Conservation International BCI Brain-Computer Interface BCI Business Continuity Institute BCI Business Cycle Indicators BCI Banco de Credito e Inversiones (Chilean bank) BCI Bell Canada International ") announced today that the Ontario Superior Court of Justice The Superior Court of Justice for Ontario, Canada is the successor to the former Ontario Court of Justice (General Division), and was created on April 19 1999. Its predecessor, the Ontario Court (General Division) was the result of the 1990 merger and discontinuance of the previous has approved BCI's application to pay, on the scheduled maturity date of September 29, 2004, the principal amount of $160 million due to holders of BCI's 11% senior unsecured notes.Holders of the notes will also receive on September 29, 2004 accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. of $8.8 million. BCI is operating under a court supervised Plan of Arrangement, pursuant to which BCI intends to monetize its assets in an orderly fashion and resolve outstanding claims against it in an expeditious manner with the ultimate objective of distributing the net proceeds to its shareholders and dissolving the company.BCI is listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol BI.Visit our web site at www.bci.ca. Certain statements made in this press release describing BCI's intentions, expectations or predictions are forward-looking and are subject to important risks and uncertainties.The results or events predicted in these statements may differ materially from actual results or events.For additional information with respect to risk factors relevant to BCI, see the Annual Information Form filed with Canadian securities commissions.BCI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Bell Canada International Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :BI) |
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