ARRIS buyback and conversion option expires.
ARRIS Group, Inc. (NASDAQ: ARRS) subsidiary ARRIS Enterprises, Inc. has announced the expiration of the tender offer for its outstanding 2.00% convertible senior notes due 2026.
Note holders had the right to require ARRIS Enterprises to purchase all or part of their notes at a price equal to 100% of the principal amount of the notes. The repurchase price did not include the interest accrued up to November 15, 2013, which was paid separately to the holders of the notes of record as of November 1, 2013. As of the expiration of the tender offer, USD30,000 of notes were tendered. ARRIS accepted all of the notes for purchase.
ARRIS Enterprises also announced the expiration of the option of each holder of the notes to convert the notes. As of the expiration of the conversion option, notes for USD231,197,000 were validly surrendered for conversion.
ARRIS is a video and broadband technology company that transforms how service providers worldwide deliver entertainment and communications. Its powerful end-to-end platforms enable service and content providers to improve the way people connect with each other and with their favorite content. Headquartered north of Atlanta, in Suwanee, Georgia, ARRIS has R&D, sales and support centers throughout the world. For more information: www.arrisi.com.
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|Publication:||Internet Business News|
|Date:||Nov 19, 2013|
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