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FLAG Asia Limited closes financing

Flag Telecom announced today that FLAG Asia Limited, a wholly owned subsidiary of FLAG Telecom Holdings Limited, secured as much as $300 million in financing for FLAG North Asian Loop (FNAL) via a syndicated credit facility secured by Westdeutsche Landesbank Girozentrale of New York.

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FNAL is part of FLAG Telecom’s network-expansion plan for its global IP network. FNAL is being developed in conjunction with Level 3 Communications.

--Amalia Parthenios, staff writer

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© 2012 Penton Media Inc.

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