CSG Completes $425 Million Convertible Senior Notes Offering and Concurrent Capped Call Transactions
09.12.23
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The Firm represented CSG Systems International, Inc. (“CSG”) in connection with the offering of $425 million aggregate principal amount of 3.875% Convertible Senior Notes due 2028, which includes the full exercise of the initial purchasers’ option to purchase additional notes. The Firm also represented CSG in related capped call transactions, entered into concurrently with such notes offering. CSG used the net proceeds from the notes offering to pay the cost of capped call transactions and to repurchase shares of its common stock pursuant to its existing stock repurchase program in privately negotiated transactions. CSG intends to use the remaining net proceeds to add cash to its balance sheet and repay outstanding borrowings under CSG’s revolving loan facility.
CSG is a purpose-driven, SaaS platform company that enables large enterprise customers in a wide variety of industry verticals to tackle the ever-growing complexity of business in the digital age through its industry leading revenue management and digital monetization, customer experience, and payments solutions.
The Simpson Thacher team included Ken Wallach, Sunny Cheong, Alexander Suh and Michael Kang (Capital Markets); Jonathan Lindabury, Nathan Utterback and Danielle Robinson (Derivatives); Jonathan Cantor and Preston Irace (Tax); Corina Holland and Sarika Pandrangi (Intellectual Property); and Jeannine McSweeney and Meredith Brenton (Executive Compensation and Employee Benefits).