CSG Systems ups conversion rate for 3% convertible bonds due 2017

By Marisa Wong

Morgantown, W.Va., Dec. 7 – CSG Systems International, Inc. announced it will adjust the conversion rate for its outstanding 3% senior subordinated convertible notes due March 1, 2017.

Effective Dec. 5, the conversion rate is 44.3684 shares of CSG common stock for each $1,000 principal amount of notes, equivalent to a conversion price of $22.54 per share, increased from 44.1816 shares for each $1,000 principal amount, or lowered from $22.63 per share.

The adjustment is due to the company’s fourth-quarter dividend of $0.1850 per share.

The original $34,722,000 principal amount of the notes remains outstanding.

CSG is an Englewood, Colo., provider of revenue management and customer interaction services to communications service providers.

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