LYCOS RETRIEVER 
Reduce Debt: Company
built 642 days ago
PLUSA denies any wrongdoing but has agreed to reduce the outstanding debt for customers who agree to the settlement offer and to correct any adverse credit information that resulted from customers not making payments. Nationwide, the company will forgive approximately $15 million in lease payments.
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[O]f reducing total debt by $50 million in the first quarter 2006, annual interest expense will be reduced by approximately $2.8 million. A non-cash charge was incurred in the first quarter 2006 relating to the write- off of unamortized debt issuance costs of approximately $1.1 million (pre- tax). The Company plans to further reduce debt this year.
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[O]f the strong cash flow generated during the period, EMBARQ reduced its net debt by $246 million to $5.86 billion. In addition, the company paid a third quarter dividend of $0.625 per share.
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