Science & Technology
Science and Technology
Science and Technology
Wed, February 20, 2013
Tue, February 19, 2013 DST Systems, Inc. Announces Contingent Interest Period On Series C Convertible Senior Debentures
DST Systems, Inc. Announces Contingent Interest Period On Series C Convertible... -- KANSAS CITY, Mo., Feb. 19, 2013 /PRNewswire/ --
KANSAS CITY, Mo., Feb. 19, 2013 /PRNewswire/ -- DST Systems, Inc. (NYSE: [ DST ]) (the "Company") announces that it will pay contingent interest for the period February 15, 2013 to August 14, 2013 in connection with $91.9 million aggregate accreted principal amount of 4.125% Series C convertible senior debentures due 2023. The interest obligation arises under the governing Indenture because the average trading price of the Series C debentures for the applicable five trading-day reference period exceeded 120% of the accreted principal amount of such debentures. The amount of contingent interest equals 0.19% of the average trading price for the reference period, or $2.71 per $1,000 original principal amount of such debentures. The interest payment date is August 15, 2013.
As required by the Indenture, the Company is issuing a press release for this contingent interest period, and will issue a press release on the interest payment date and in connection with each future period for which it has a contingent interest obligation. This press release does not constitute an offer to purchase or a solicitation of an offer to sell securities. The Company has described the contingent interest terms and conditions and other features of the debentures in its Annual Report on Form 10-K for the year ended December 31, 2011.
About DST Systems, Inc.
DST Systems, Inc. provides sophisticated information processing solutions and services to support the global asset management, insurance, retirement, brokerage, and healthcare industries. In addition to technology products and services, DST also provides integrated print and electronic statement and billing solutions through DST Output. DST's world-class data centers provide technology infrastructure support for asset management, insurance and healthcare companies around the globe. Headquartered in Kansas City, MO., DST is a publicly traded company on the New York Stock Exchange.
SOURCE DST Systems, Inc.
