Critical Path announces significant progress on financial restructuring plan with debt buyback; Company's debt buyback leads to net gain of more than $90 million.

M2 Presswire, August, 2001

M2 PRESSWIRE-23 August 2001-CRITICAL PATH: Critical Path announces significant progress on financial restructuring plan with debt buyback; Company's debt buyback leads to net gain of more than $90 million (C)1994-2001 M2 COMMUNICATIONS LTD RDATE:22082001 London -- Critical Path, Inc. (Nasdaq: CPTH), a global leader in communication technology and complete messaging solutions for wireless and wireline carriers, service providers and corporations, today announced it has significantly improved the company's balance sheet over the last few months by buying back its outstanding convertible subordinated notes at a net gain of more than $90 million.

As part of the company's plan to restructure its outstanding debt, Critical Path has successfully repurchased...