With this payment, MoneyGram International will have paid USD 187 million toward its outstanding debt obligation this year, which accounts for 19 percent drop in the company’s total outstanding debt since the beginning of 2009.
MoneyGram also announced that Jeffrey R. Woods, executive vice president and chief financial officer, will be leaving the company on 15 January, 2010. In other news, global money transfer company partnered Philippines-based wireless services provider SMART Communications to allow consumers in the Philippines to receive money transfers to their SMART Money account on their mobile phones via MoneyGram.
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