AudioCodes Repurchases $50 Million Principal Amount of Its Convertible Notes
Lod, Israel, October 22, 2008 – AudioCodes (NasdaqGS: AUDC) today announced that it has repurchased in a privately negotiated transaction $50 million aggregate principal amount of its 2.00% Senior Convertible Notes due 2024 for approximately $48.8 million in cash. This payment includes accrued but unpaid interest. In November 2004, AudioCodes issued $125 million aggregate principal amount of the Convertible Notes. As a result of this repurchase, approximately $75 million principal amount of the Convertible Notes remain outstanding.