Borland Software begins tender offer for 2.75% convertibles due 2012

By Angela McDaniels

Tacoma, Wash., Aug. 5 - Borland Software Corp. has begun a tender offer for its 2.75% convertible senior notes due 2012, according to a company news release.

The company said it is offering par plus accrued interest up to but excluding the payment date.

The offer will expire at 5 p.m. ET on Aug. 31.

Holders who tender by the early participation deadline, 5 p.m. ET on Aug. 7, will receive payment as soon as practicable after that time. For all other tendering holders, payment will be made shortly after the offer expiration.

Holders with questions may contact U.S. Bank NA (800 934-6802), the depositary for the offer.

Borland Software is a vendor of open application lifecycle management solutions based in Austin, Texas.

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