NEW YORK--(BUSINESS WIRE)--Syniverse Holdings, Inc. (“Syniverse”) and Syniverse Foreign Holdings Corporation (“SFHC”), an indirect wholly-owned subsidiary of Syniverse, today announced the expiration of and the final results for the previously announced offer to exchange (the “Exchange Offer”) for up to $364 million of Syniverse’s outstanding 9.125% Senior Notes due 2019 (the “Existing Notes”) held by Eligible Holders (as defined below).
The Exchange Offer expired at midnight, New York City time, on January 6, 2017. According to information provided by D.F. King & Co., Inc., the Information and Exchange Agent for the Exchange Offer, $433,507,000 aggregate principal amount (or 91.26% of the outstanding principal amount) of the Existing Notes were validly tendered and not validly withdrawn in the Exchange Offer.
Syniverse will accept Existing Notes validly tendered and not validly withdrawn on a pro rata basis according to the pro ration procedures described in the Offering Memorandum (as defined below). Syniverse will accept for exchange a total of $369,547,000 aggregate principal amount of Existing Notes as allowed by the applicable rules under the Securities Exchange Act of 1934.
In connection with the Exchange Offer, SFHC will issue $369,547,000 aggregate principal amount of its 9.125% Senior Notes due 2022 (the “New Notes”), subject to satisfaction or waiver of the terms and conditions of the Exchange Offer.
The Exchange Offer was made solely to Eligible Holders upon the terms and subject to the conditions set forth in the confidential offering memorandum (the “Offering Memorandum”) and the related letter of transmittal (the “Letter of Transmittal”), each dated December 8, 2016.
The Exchange Offer was made only (a) in the United States, to holders of Existing Notes who are “qualified institutional buyers,” as defined in Rule 144A under the Securities Act of 1933 (the “Securities Act”), (b) outside the United States, to holders of Existing Notes who are not “U.S. persons,” as defined in Rule 902 under the Securities Act and (c) to institutional investors which are “accredited investors,” as defined in Rule 501(a)(1), (2), (3), (7) or (8) under the Securities Act. We refer to the holders of Existing Notes who have certified that they are eligible to participate in the Exchange Offer pursuant to at least one of the foregoing conditions as “Eligible Holders.”
Subject to satisfaction or waiver of the terms and conditions set forth in the Offering Memorandum and the Letter of Transmittal, settlement of the Exchange Offer is expected to occur on January 11, 2017.
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any securities. The Exchange Offer was made and the New Notes were offered only to “qualified institutional buyers,” holders that are not “U.S. persons” and certain institutional investors that are “accredited investors” as such terms are defined under the Securities Act. The New Notes have not been registered under the Securities Act or under any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act, and, accordingly, are subject to significant restrictions on transfer and resale as more fully described in the Offering Memorandum and the Letter of Transmittal. The Exchange Offer is subject to the terms and conditions set forth in the Offering Memorandum and the Letter of Transmittal.
Syniverse is the leading 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 25 years, Syniverse has been simplifying complexity to deliver the promise of mobility – a simple, interoperable experience, anytime, anywhere.
This press release may contain “forward-looking statements.” These forward-looking statements include, but are not limited to, the satisfaction of the conditions to the Exchange Offer and the completion of the Exchange Offer. Forward-looking statements identify prospective information. Important factors could cause actual results to differ, possibly materially, from those stated in the forward-looking statements. Some of the forward-looking statements can be identified by the use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “potential,” “should,” “will” and “would” or the negatives thereof, variations thereof or other similar words. These forward-looking statements include all matters that are not related to present facts or current conditions or that are not historical facts. Forward-looking statements are based on information available to us at the time and management's good faith belief with respect to future events, and are subject to risks and uncertainties that may be beyond our control or that could cause actual performance or results to differ materially from those expressed in the statements. Forward-looking statements speak only as of the date the statements are made. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable law. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect thereto or with respect to other forward-looking statements.