Syniverse Holdings, Inc. (“Syniverse”) has announced that on Dec. 29, 2017, the company voluntarily redeemed USD 40 million aggregate principal amount of its 9.125% Senior Notes due 2019 (the “Notes”), the company said.
Pursuant to the indenture governing the Notes, the Notes were redeemed at 100% of the principal amount thereof, plus accrued and unpaid interest to, but excluding, the date of redemption. Following the completion of the redemption, USD 41.7 million aggregate principal amount of the Notes remains outstanding.
As a result of the aggregate outstanding principal amount of the Notes being less than USD 50 million, pursuant to the credit agreement governing the company´s revolving credit facility and term loan facilities, the “springing maturity date” is no longer applicable, meaning that (1) the scheduled maturity date of the revolving credit commitments will be the earlier of (x) January 15, 2019, and (y) the date of termination in whole of the revolving credit commitments, the letter of credit sublimit, and the swing line facility, and (2) the company´s term loan facilities will mature on April 23, 2019, unless earlier repaid or refinanced.
Syniverse is the global transaction processor that connects approximately 1,500 mobile service providers, enterprises, ISPs and OTTs in nearly 200 countries and territories, enabling seamless mobile communications across disparate and rapidly evolving networks, devices and applications. We deliver innovative cloud-based solutions that facilitate superior end-user experiences through always-on services and real-time engagement. For more than 30 years, Syniverse has been simplifying complexity to deliver the promise of mobility — a simple, interoperable experience, anytime, anywhere. For more information, visit www.syniverse.com, follow Syniverse on Twitter or connect with Syniverse on Facebook.