Syniverse offers new issue due 2022 for $364 million of 9 1/8% notes

By Susanna Moon

Chicago, Dec. 9 – Syniverse Holdings, Inc. holders may exchange up to $364 million of its $475 million of outstanding 9 1/8% senior notes due 2019.

In exchange, Syniverse Foreign Holdings Corp., an indirect wholly owned subsidiary of the company, is offering to issue new 9 1/8% senior notes due 2022 for each $1,000 principal amount of notes tendered by 5 p.m. ET on Dec. 21, the early participation date.

The early exchange value contains a premium of $50 principal amount per $1,000 of notes.

Holders who tender their notes for exchange after the early deadline will receive $950 principal amount of the new notes due 2022.

The exchange offer will continue until midnight ET on Jan. 6.

The company also will pay accrued interest to but excluding the settlement date in cash.

The offer is being made to qualified institutional buyers under Rule 144A, those who are not U.S. persons under Rule 902 and to accredited investors under Rule 501.

Notes tendered for exchange by the early deadline will be given priority over those tendered for exchange after the early deadline. If the offer is oversubscribed by the early deadline, the company will not accept any notes tendered for exchange after the early deadline.

D.F. King & Co., Inc. (800 628-8528, 212 269-5550 or dfking.com/Syniverse) is the information and exchange agent.

Syniverse is a Tampa, Fla.-based provider of technology and business services for the telecommunications industry.

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