Amdocs buys back $100 million of its convertibles due 2024

By Devika Patel

Knoxville, Tenn., Dec. 8 - Amdocs Ltd. repurchased $100 million of its 0.5% convertible senior notes due 2024 during the first quarter of fiscal 2009, according to a 20-F filed Monday with the Securities and Exchange Commission.

The notes were bought back at an average price of 98, plus interest.

The company said it expects a substantial portion of the remaining notes will be put in March if it does not exercise its call option. Both options are exercisable at par.

As of Nov. 30, Amdocs had $350 million of the convertibles outstanding.

Amdocs is a St. Louis customer relationship management software company.

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