ENGLEWOOD, Colo.--(BUSINESS WIRE)--
CSG
Systems International, Inc. (NASDAQ:
CSGS), the trusted global partner to launch and monetize digital
services, today announced it has repurchased $66 million in principal
amount of its outstanding 3.0% Senior Subordinated Convertible Notes
issued in March 2010, due March 1, 2017 (the "2010 Convertible Notes")
(CUSIP Number 126349 AC3) for approximately $126 million. The purchase
price was based on the average daily volume weighted average prices of
CSG's common stock over a 20 trading day period beginning March 10,
2016, and was paid with a portion of the net proceeds from CSG's
offering of $230 million of 4.25% Convertible Senior Notes due 2036,
that were issued March 15, 2016 (the "2016 Convertible Notes"). This
brings the total repurchases of 2010 Convertible Notes to date to $106
million of the original aggregate principal balance of $150 million, for
a total repurchase amount of approximately $199 million. CSG agreed to
repurchase the $106 million 2010 Convertible Notes in conjunction with
the issuance of the 2016 Convertible Notes.
After these repurchases, the par value of the remaining outstanding 2010
Convertible Notes is $44 million. As of March 16, 2016, the closing
price of CSG's common stock exceeded 130% of the conversion price for
the required period, thus allowing for the remaining 2010 Convertible
Notes to continue to be convertible at the holder's option through the
fiscal quarter ending June 30, 2016. The conversion price is currently
$22.83, or 43.8047 shares per $1,000.
About CSG International
CSG
Systems International, Inc. (NASDAQ:CSGS)
is the trusted global partner to help clients launch and monetize
communications and entertainment services in the digital age. Leveraging
30 years of experience and expertise in voice, video, data and content
services, CSG delivers market-leading revenue management and customer
interaction solutions in licensed and managed service models. The
company drives business transformation initiatives for the majority of
the top 100 global communications service providers, including AT&T,
Charter Communications, Comcast, DISH, ESPN, Media-Saturn, Orange,
Reliance, SingTel Optus, Telefonica, Time Warner Cable, Vodafone, Vivo
and Verizon. For more information, visit our website www.csgi.com.
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CSG International
Liz Bauer, 303-804-4065
Investor Relations
Liz.bauer@csgi.com
Source: CSG International
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