secwatch.observer — SEC 8-K summary
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Issuer:     CSG SYSTEMS INTERNATIONAL INC (CSGS)
CIK:        0001005757
Form:       8-K
Filed at:   2023-09-07T23:59:59+00:00
Accession:  0000950170-23-046873
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CSG prices $375M convertible notes at 3.875%, upsizes from $350M; board adds $100M to buyback authorization
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- Priced $375M (upsized from $350M) of 3.875% convertible senior notes due 2028; option for additional $50M.
- Conversion price at ~$71.05/share (32.5% premium); cap price ~$96.52 (80% premium) via capped calls.
- Net proceeds ~$363M; uses: ~$30.3M for capped calls, ~$90M for buybacks, ~$15M to balance sheet, rest repays revolver.
- Board increased share repurchase authorization by $100M; expects to repurchase shares in connection with note offering.
- Credit agreement amended to permit notes issuance; all other terms unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1005757/000095017023046873/0000950170-23-046873-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1005757/000095017023046873/csgs-20230905.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-046873

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer