Open Solutions tenders for convertibles

New York, Dec. 21 - Open Solutions Inc. said it has begun a cash tender offer for its senior subordinated convertible notes due 2035.

The Glastonbury, Conn., provider of technology to financial institutions is offering $781.02 per $1,000 principal amount at maturity of the notes. It will also pay the cash interest due on the next coupon date of Feb. 2.

The tender ends at midnight ET on Jan. 22.

Open Solutions is carrying out the tender as part of its acquisition by The Carlyle Group and Providence Equity Partners Inc.

Wachovia Securities is dealer manager (contact liability management group at 866 309-6316). D.F. King & Co., Inc. is information agent and tender agent (800 431-9642 or 212 269-5550.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.