Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
SYS-CON.TV
Today's Top SOA Links


Encore Capital Group, Inc. Announces Private Placement of $15 Million Additional Convertible Senior Notes

SAN DIEGO, Dec. 11, 2012 /PRNewswire/ -- On November 27, 2012, Encore Capital Group, Inc. (NASDAQ: ECPG) (the "Company") sold $100,000,000 in aggregate principal amount of the Company's 3.00% Convertible Senior Notes due 2017 (the "Notes") in a private placement transaction. The Notes were issued pursuant to an Indenture, dated November 27, 2012, between the Company and Union Bank, N.A., as trustee. On December 6, 2012, the initial purchasers exercised, in full, their option to purchase an additional $15,000,000 in aggregate principal amount of the Notes (the "Additional Notes").  The Company today announced the closing of the sale of the Additional Notes.

In connection with the initial purchasers' exercise of their option to purchase the Additional Notes, the Company entered into convertible note hedge transactions with certain financial institutions (the "option counterparties"). The convertible note hedge transactions are expected generally to reduce the potential dilution and/or offset the cash payments the Company is required to make in excess of the principal amount upon conversion of the Additional Notes in the event that the market price of the Company's common stock is greater than the strike price of the convertible note hedge transactions. The Company also entered into warrant transactions with the option counterparties. The warrant transactions could separately have a dilutive effect if the market price of the Company's common stock exceeds the strike price of the warrant transactions, unless the Company elects, subject to certain conditions, to settle the warrant transactions in cash. The strike price of the warrant transactions will initially be $44.1875 per share, which represents a premium of approximately 75% over the last reported sale price of the Company's common stock on November 20, 2012, and is subject to certain adjustments under the terms of the warrant transactions.

The Company has been advised by the option counterparties that in connection with establishing their initial hedge of the convertible note hedge transactions and warrant transactions, the option counterparties or their respective affiliates expect to enter into various derivative transactions with respect to the Company's common stock and/or purchase shares of the Company's common stock in privately negotiated transactions and/or open market transactions. This activity could increase (or reduce the size of any decrease in) the market price of the Company's common stock or the Notes at that time.

In addition, the Company has been advised by the option counterparties that the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivative transactions with respect to the Company's common stock and/or purchasing or selling the Company's common stock in secondary market transactions following the initial purchasers' exercise of their option to purchase the Additional Notes and prior to the maturity of the Notes (and are likely to do so during any observation period related to a conversion of the Notes). This activity could also cause or avoid an increase or a decrease in the market price of the Company's common stock or the Notes, which could affect the ability of holders to convert the Notes and, to the extent the activity occurs during any observation period related to a conversion of the Notes, it could affect the amount and value of the consideration that holders will receive upon conversion of the Notes.

The net proceeds from the sale of the Additional Notes were approximately $14.6 million, after deducting estimated fees and expenses and the initial purchasers' discounts and commissions.  The Company used approximately $1.5 million of the net proceeds to pay the cost of the additional convertible note hedge transactions, taking into account the proceeds to the Company of the additional warrant transactions; and the balance of the net proceeds for general corporate purposes.

The Additional Notes, the shares of the Company's common stock issuable upon conversion of the Additional Notes, if any, the convertible note hedge transactions and the warrant transactions have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act") or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release is being issued pursuant to Rule 135c under the Securities Act and does not constitute an offer to sell or the solicitation of an offer to buy securities. Any offer of the securities will be made only by means of a private offering memorandum.

Forward-Looking Statements
The statements in this press release that are not historical facts, including, most importantly, those statements preceded by, or that include, the words "may," "believe," "projects," "expects," "anticipates" or the negation thereof, or similar expressions, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). These statements may include, but are not limited to, statements regarding the anticipated use of proceeds from the offering. For all "forward-looking statements," the Company claims the protection of the safe harbor for forward-looking statements contained in the Reform Act. Such forward-looking statements involve risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company and its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and other factors are discussed in the reports filed by the Company with the Securities and Exchange Commission, including the most recent reports on Forms 10-K, 10-Q and 8-K, each as it may be amended from time to time. The Company disclaims any intent or obligation to update these forward-looking statements.

Contact:

Encore Capital Group, Inc.
Paul Grinberg (858) 309-6904
paul.grinberg@encorecapital.com
or
Adam Sragovicz (858) 309-9509
adam.sragovicz@encorecapital.com

Information found on the Company's website is not incorporated by reference.

SOURCE Encore Capital Group, Inc.

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Web 2.0 Latest News
When people think of mainframes, they typically envision ancient, obsolete technology running arcane spaghetti code – systems that IT management would love to retire if only they could free themselves from the clutches of legacy. While there is an element of truth in this perspectiv...
Last week as I was writing Amazon Declares War on VMware, VMware was preparing to announce the acquisition of a pro services team to aid in cloud migration (see coverage in CRN): VMware Acquires Professional Services Firm To Boost Cloud Migration, DevOps Expertise. You can get my thoug...
Change is constant, and over the last decade the nexus of two trends in particular has transformed the enterprise. Mobile technology and cloud software are fundamentally changing the way we interact internally within businesses, and externally with partners and customers. Never befor...
So congratulations, somehow you've managed to wangle your way onto one of the many DevOps conferences being held around the world. Why not you might say? DevOps is not only hot it's the approach many enterprises are now exploring as the means to help accelerate the delivery of high qua...
What does the data landscape look like at Facebook with its 1.3 billion users across the globe? They classify small data referring to OLTP-like queries that process and retrieve a small amount of data, usually 1-1000 objects requested by their … MORE »
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021




SYS-CON Featured Whitepapers
ADS BY GOOGLE


ADVERTISE   |   MAGAZINE SUBSCRIPTIONS   |   FREE BREAKING-NEWSLETTERS!   |   SYS-CON.TV   |   BLOG-N-PLAY!   |   WEBCAST   |   EDUCATION   |   RESEARCH

.NET Developer's Journal - .NETDJ   |   ColdFusion Developer's Journal - CFDJ   |   Eclipse Developer's Journal - EDJ   |   Enterprise Open Source Magazine - EOS
Open Web Developer's Journal - OPENWEB   |   iPhone Developer's Journal - iPHONE   |   Virtualization - Virtualization   |   Java Developer's Journal - JDJ   |   Linux.SYS-CON.com
PowerBuilder Developer's Journal - PBDJ   |   SEO / SEM Journal - SJ   |   SOAWorld Magazine - SOAWM   |   IT Solutions Guide - ITSG   |   Symbian Developer's Journal - SDJ
WebLogic Developer's Journal - WLDJ   |   WebSphere Journal - WJ   |   Wireless Business & Technology - WBT   |   XML-Journal - XMLJ   |   Internet Video - iTV
Flex Developer's Journal - Flex   |   AJAXWorld Magazine - AWM   |   Silverlight Developer's Journal - SLDJ   |   PHP.SYS-CON.com   |   Web 2.0 Journal - WEB2
Apache   |   CMS   |   CRM   |   HP   |   Oracle Journal   |   Perl   |   Python   |   Red Hat   |   Ruby on Rails   |   SAP   |   SaaS

SYS-CON MEDIA:   ABOUT US   |   CONTACT US   |   COMPANY NEWS   |   CAREERS   |   SITE MAP
SYS-CON EVENTS  |  AJAXWorld Conference & Expo  |  iPhone Developer Summit  |  OpenWeb Developer Summit  |  SOA World Conference & Expo  |  Virtualization Conference & Expo
INTERNATIONAL SITES:   India  |  U.K.  |  Canada  |  Germany  |  France  |  Australia  |  Italy  |  Spain  |  Netherlands  |  Brazil  |  Belgium
 Terms of Use & Our Privacy Statement     About Newsfeeds / Video Feeds
Copyright ©1994-2008 SYS-CON Publications, Inc. All Rights Reserved. All marks are trademarks of SYS-CON Media.
Reproduction in whole or in part in any form or medium without express written permission of SYS-CON Publications, Inc. is prohibited.