CSG Systems adjusts conversion price on $150 million of 3% convertibles

By Tali Rackner

Norfolk, Va., June 11 – CSG Systems International, Inc. adjusted the conversion price on its $150 million of 3% senior subordinated convertible notes due March 1, 2017, according to a press release.

The adjustment, effective June 9, was made as a result of a second quarter dividend of $0.1575 per share on CSG’s common stock.

The new conversion rate was adjusted to 42.1363 shares per $1,000 principal amount of convertibles (equal to a conversion price of about $23.73 per common share) from 41.8811 shares per $1,000 principal amount (equal to a conversion price of $23.88 per common share).

The company's shares (Nasdaq: CSGS) closed at $25.95 on Wednesday.

CSG Systems is an Englewood, Colo.-based provider of software and services-based business support solutions that help clients generate revenue and maximize customer relationships.

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