Amdocs extends put option for $1.02 million 0.5% convertibles due 2024

By Angela McDaniels

Tacoma, Wash., April 11 - Amdocs Ltd. extended the cash offer being made in connection with holders' put rights for its $1.02 million of outstanding 0.5% convertible senior notes due 2024, according to a company press release.

The deadline was extended to 5 p.m. ET on April 14 from 9 a.m. ET on April 11.

As of the original deadline, holders had tendered $618,000 principal amount of convertibles.

Under their terms, the convertibles are putable at par plus accrued interest on March 17.

Amdocs had the option to pay for the notes with cash, stock or a combination of cash and stock, and the company has opted to pay with cash.

The conversion price is $42.20. The company's shares closed at $45.01 (Nasdaq: DOX) on April 11.

On March 14, the company noted that the conversion price will be adjusted as a result of the quarterly cash dividend set for April 17.

Amdocs provides software and services for communications, media and entertainment industry service providers. The company is based in Chesterfield, Mo.

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