ENGLEWOOD, Colo., May 25 /PRNewswire-FirstCall/ -- CSG Systems
(Nasdaq: CSGS) today announced that it intends to offer, subject to market and
other conditions, $200 million of Senior Subordinated Convertible Contingent
Debt Securities due 2024 in a private placement to qualified institutional
buyers pursuant to exemptions from the registration requirements of the
Securities Act of 1933. The Securities will bear interest, and will be
convertible into shares of CSG Systems' common stock at a rate and price to be
determined. CSG Systems expects to grant the initial purchasers of the
Securities an option to purchase up to an additional $30 million aggregate
principal amount of the Securities.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020627/CSGSLOGO)
CSG Systems intends to use up to $40 million of the net proceeds of this
offering for a concurrent repurchase of common stock, and the remainder of the
net proceeds and a portion of available cash, cash equivalents and short-term
investments for the repayment of outstanding debt.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer, solicitation or
sale is unlawful. The Securities and the common stock issuable upon
conversion of the Securities have not been registered under the Securities Act
of 1933 or applicable state securities laws and, unless so registered, may not
be offered or sold in the United States except pursuant to an exemption from
the registration requirements of the Securities Act and applicable state
securities laws.
About CSG Systems International
Headquartered in Englewood, Colorado, CSG Systems International
(Nasdaq: CSGS) is a leader in next-generation billing and customer care
solutions for the cable television, direct broadcast satellite, advanced IP
services, next generation mobile, and fixed wireline markets. CSG's unique
combination of proven and future-ready solutions, delivered in both outsourced
and licensed formats, empowers its clients to deliver unparalleled customer
service, improve operational efficiencies and rapidly bring new
revenue-generating products to market. CSG is an S&P Midcap 400 company. For
more information, visit our Web site at http://www.csgsystems.com.
SOURCE CSG Systems
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Related links:
http://www.csgsystems.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20020627/CSGSLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Liz Bauer, Senior Vice President, IR and
Corporate Communications of CSG Systems International, Inc.,
+1-303-804-4065, liz_bauer@csgsystems.com
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