Amdocs (NASDAQ: DOX) said it has commenced a cash offer for its 0.50 percent convertible senior notes due 2024.
Each holder of the notes has the right to require Amdocs to repurchase on March 17, 2014 all or any part of such holder´s notes at a price equal to 100 percent of the principal amount plus accrued and unpaid interest. Under the terms of the notes, Amdocs had the option to pay for the notes with cash, ordinary shares, or a combination of cash and ordinary shares, and has elected to pay for the notes solely with cash. As of March 12, 2014 there was USD1,020,000 aggregate principal amount of notes outstanding.
In order to surrender notes for repurchase, holders must tender the notes before April 11, 2014.
For more than 30 years, Amdocs has ensured service providers´ success and embraced their biggest challenges. Its website is at www.amdocs.com.