Vonage Holdings to tender for $253 million in convertibles

By Devika Patel

Knoxville, Tenn., July 24 - Vonage Holdings Corp. said in an 8-K filed Thursday with the Securities and Exchange Commission that it is required to tender for its existing convertible notes under the terms of a new financing.

The approximately $253 million in notes have a put option on Dec. 16.

The company will use the funds raised from a new offering of convertible notes and a credit facility to buy back the notes.

Holmdel, N.J.-based Vonage Holdings is a provider of broadband telephone services.

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