CSG Systems International repurchases $15 million in convertible debt for $13.2 million

By Devika Patel

Knoxville, Tenn., April 28 - CSG Systems International, Inc. said it repurchased $15 million of its convertible debt securities in the first quarter of 2009 for $13.2 million.

The cost represents a weighted average price of about 88% of par, according to a company earnings report.

The repurchase resulted in a gain of $1.5 million, or $0.03 per diluted share, for the first quarter.

After the buybacks, the par value of outstanding convertibles is $185.3 million as of March 31.

CSG Systems is an Englewood, Colo.-based provider of customer interaction management and billing solutions.

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