Comverse Reports Final Results of Tender Offer for Zero Yield Puttable Securities Due May 15, 2023

Comverse Technology, Inc. on May 18 announced the final results of its previously announced cash tender offer for all of its outstanding New Zero Yield Puttable Securities due May 15, 2023 (CUSIP No. 205862AM7), upon the terms and conditions set forth in the Offer to Purchase and related Letter of Transmittal, each dated April 17.

The Offer expired at 5 p.m., New York City time, on May 15. Comverse Technology accepted for purchase $417,282,000 aggregate principal amount of ZYPS (CUSIP No. 205862AM7). Following payment by Comverse Technology for the ZYPS accepted for purchase in the Offer, $94,000 aggregate principal amount of ZYPS and $2,101,000 aggregate principal amount of other convertible debt securities will remain outstanding.

The total consideration paid to holders of the ZYPS is $1,000 in cash for each $1,000 principal amount of ZYPS tendered.

The Bank of New York Trust Company, N.A. served as the Depositary and D.F. King & Co. as the Information Agent for the Offer.

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