CSG Systems trims conversion rate of 4.25% convertibles due 2036

By Wendy Van Sickle

Columbus, Ohio, June 23 – CSG Systems International, Inc. adjusted the conversion rate for its outstanding 4.25% senior convertible notes due March 15, 2036, according to a press release.

Effective as of June 11, the conversion price is $56.75 per share, lowered from $56.81 per share.

The new conversion rate is 17.6222 shares per $1,000 of notes, increased from 17.6036.

The adjustment is a result of the company’s second quarter dividend of $0.2225 per share on its common stock

All $230 million of the convertibles originally issued in March 2016 remain outstanding, the company noted.

CSG is a Greenwood Village, Colo., provider of revenue management and customer interaction services to communications service providers.

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