CSG Systems buys back $29.7 million convertibles at 75

By Susanna Moon

Chicago, Jan. 27 - CSG Systems International, Inc. said it repurchased $29.7 million of its convertible debt in the fourth quarter ended Dec. 31 for $22.4 million.

The cost represents a weighted average price of 75% of par, according to the company's earnings release for the fourth quarter.

The repurchase resulted in a gain of $7 million, or $0.14 per diluted share, for the fourth quarter and the year ended Dec. 31.

After the buybacks, the par value of outstanding convertibles is $200.3 million as of Dec. 31, down from $230 million in previous periods, which represents a decrease of 13%.

The issuer is an Englewood, Colo., based provider of customer interaction management and billing solutions.

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