Fair Isaac buys back $9 million from puts for $129 million of 1.5% convertibles

By Susanna Moon

Chicago, Aug. 14 - Fair Isaac Corp. said it made a final repurchase of $9 million in principal amount of its $400 million of 1.5% senior convertible notes due Aug. 15, 2023.

Holders of $120 million of the notes rescinded their option exercise.

On Aug. 9, the company announced that holders of $129 million of the convertibles exercised the put option, which expired on Aug. 8.

Investors could rescind the exercise of the option until close of business Aug. 13. After that date, the company said it would buy back all notes not rescinded.

The settlement date is Aug. 15 or on proper presentation of the note to the Depository Trust Co.

There are further puts on Aug. 15, 2008, Aug. 15, 2013 or Aug. 15, 2018, or upon a change of control.

Minneapolis-based Fair Isaac provides analytic, software and data management products and services.

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