RESTON, Va.--(BUSINESS WIRE)--
VeriSign, Inc. (NASDAQ: VRSN), a global leader in domain names and
internet security, announces that the upside trigger on its 3.25% junior
subordinated convertible debentures due 2037 (CUSIP No. 92343EAD4) (the
"Notes") has been met for the six-month interest payment period from
Feb. 15, 2018, to Aug. 14, 2018. As a result, contingent interest will
be paid on the Notes for that six-month interest payment period.
Contingent interest of approximately $10.1 million on the $1.25 billion
outstanding principal amount of the Notes, or approximately $8.0728 per
$1,000 principal amount of the Notes, will be paid on Aug. 15, 2018, to
the holders of record as of Aug. 1, 2018.
The publication of the above information is required per the Notes
indenture; however, on February 15, 2018, Verisign called for the
redemption of all of the Notes. The Notes will be redeemed on May 1,
2018 at a redemption price equal to 100% of the principal amount of the
Notes, plus accrued but unpaid interest up to, but not including, the
redemption date. The Notes called for redemption may be converted at any
time before 5:00 p.m.New York City time on Monday, April 30, 2018, the
business day immediately preceding the redemption date.
Verisign, a global leader in domain names and internet security, enables
internet navigation for many of the world's most recognized domain names
and provides protection for websites and enterprises around the world.
Verisign ensures the security, stability and resiliency of key internet
infrastructure and services, including the .com and .net domains and two
of the internet's root servers, as well as performs the root-zone
maintainer function for the core of the internet's Domain Name System
(DNS). Verisign's Security Services include Distributed Denial of
Service Protection and Managed DNS. To learn more about what it means to
be Powered by Verisign, please visit Verisign.com.
Statements in this announcement other than historical data and
information constitute forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 as amended and Section 21E of
the Securities Exchange Act of 1934 as amended. These statements involve
risks and uncertainties that could cause our actual results to differ
materially from those stated or implied by such forward-looking
statements. The potential risks and uncertainties include, among others,
the uncertainty of whether the Company will be able to pay the
contingent interest when it becomes due and whether the aggregate amount
of contingent interest payable or the outstanding principal amount of
the Notes will change between the date of this announcement and the
contingent interest payment date. More information about potential
factors that could affect our business and financial results is included
in our filings with the SEC, including in our Annual Report on Form 10-K
for the year ended Dec. 31, 2016, Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K. Verisign undertakes no obligation to update
any of the forward-looking statements after the date of this
©2018 VeriSign, Inc. All rights reserved. VERISIGN, the VERISIGN logo,
and other trademarks, service marks, and designs are registered or
unregistered trademarks of VeriSign, Inc. and its subsidiaries in the
United States and in foreign countries. All other trademarks are
property of their respective owners.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180216005657/en/
David Atchley, 703-948-4643
Don Chapman, 703-948-4481
Source: VeriSign, Inc.
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