CSG Systems International Adjusts Convertible Debt Conversion Rate for 2016 Convertible Notes as a Result of Dividend
CSG® (NASDAQ: CSGS) today announced that as a result of its third quarter dividend of $0.235 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 September 14, 2020, the conversion rate for the 2016 Convertible Notes has been adjusted to 17.645 shares for each $1,000 in principal amount of 2016 Convertible Notes (equivalent to a conversion price of approximately $56.67) per share of CSG common stock.
For more than 35 years, CSG has simplified the complexity of business, delivering innovative customer engagement solutions that help companies acquire, monetize, engage and retain customers. Operating across more than 120 countries worldwide, CSG manages billions o critical customer interactions annually, and its award-winning suite of software and services allow companies across dozens of industries to tackle their biggest business challenges and thrive in an ever-changing marketplace. CSG is the trusted partner for driving digital innovation for hundreds of leading global brands, including AT&T, Charter Communications, Comcast (News - Alert), DISH, Eastlink, Formula One, Maximus, MTN and Telstra. To learn more, visit our website at csgi.com and connect with us on LinkedIn, and Twitter.
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