CSG Systems Adjusts Convertible Debt Conversion Rate for 2016 Convertible Notes as a Result of Dividend
Sep. 12, 2018
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Sep 12, 2018--CSG (NASDAQ: CSGS), the trusted partner to simplify the complexity of business transformation in the digital age, today announced that as a result of its third quarter dividend of $0.21 per share on its common stock, it will adjust the conversion rate for its outstanding 4.25% Senior Convertible Notes issued in March 2016 (the “2016 Convertible Notes”). The adjustments are made in accordance with the terms of the Indenture Agreement.
CSG’s 2016 Convertible Notes (Unrestricted CUSIP Number 126349 AF6) mature on March 15, 2036 and the original $230,000,000 aggregate principal amount remains outstanding. Effective Sept. 11, 2018, the conversion rate for the 2016 Convertible Notes of 17.5057 shares of CSG common stock for each $1,000 in principal amount of the 2016 Convertible Notes (equivalent to a conversion price of $57.12 per share of CSG common stock) has been adjusted to 17.5173 shares for each $1,000 in principal amount of 2016 Convertible Notes (equivalent to a conversion price of approximately $57.09 per share of CSG common stock, compared to the previous amount prior to this adjustment of $57.12 per share).
CSG simplifies the complexity of business transformation in the digital age for the most respected communications, media and entertainment service providers worldwide. With over 35 years of experience, CSG delivers revenue management, customer experience and digital monetization solutions for every stage of the customer lifecycle. The company is the trusted partner driving digital transformation for leading global brands, including Arrow Electronics, AT&T, Bharti Airtel, Charter Communications, Comcast, DISH, Eastlink, iflix, MTN, TalkTalk, Telefonica, Telstra and Verizon.
At CSG, we have one vision: flexible, seamless, limitless communications, information and content services for everyone. For more information, visit our website at csgi.com and follow us on LinkedIn, Twitter and Facebook.
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Liz Bauer, +1 303-804-4065
KEYWORD: UNITED STATES NORTH AMERICA COLORADO
INDUSTRY KEYWORD: TECHNOLOGY INTERNET NETWORKS AUDIO/VIDEO TELECOMMUNICATIONS
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PUB: 09/12/2018 09:00 AM/DISC: 09/12/2018 09:01 AM