DST buys back $9.7 million in 4.125% series A convertible debentures

By Devika Patel

Knoxville, Tenn., Oct. 21 - DST Systems, Inc. repurchased $9.7 million of its $540 million in 4.125% series A senior convertible debentures during the third quarter, according to a company earnings report.

Following this, there was $408.8 million of the series A convertibles outstanding and $171.3 million of the series B senior convertible debentures outstanding as of Sept. 30.

As previously announced, on Oct. 1, DST exchanged $190.4 million of its 4.125% series A convertibles for an equal amount of 4.125% series C senior convertible debentures due 2023.

The terms of the series C senior debentures are in most material respects substantially consistent with the terms of the series A debentures, but the series C debenture holders may not put the debentures until Aug. 15, 2014 and the company may redeem the debentures beginning Aug. 15, 2013.

DST is a Kansas City, Mo.-based provider of information processing and software services.

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