By Sheri Kasprzak
New York, Sept. 27 - USG People NV has completed a private placement with a fully exercised over-allotment option for €230 million.
The company sold a total of 8,614,233 shares at €26.70 each, including an over-allotment option exercised by placement agents ING Wholesale Banking and Rabo Securities for 15% of the original offering.
Hovu Beheer NV, USG's major shareholder, bough 1.7 million of the shares.
The deal was announced earlier Tuesday as a €200 million offering without the exercise of the greenshoe.
Proceeds from the deal will be used to finance its acquisition of Solvus NV, repay part of a bridge facility and repay part of Solvus' existing debt.
The offering is expected to close Sept. 30.
USG People said it plans to launch a €100 million convertible bond issue soon. The details of the bond deal have not yet been released.
Based in Almere, Amsterdam, USG People is a staffing company.
| Issuer: | USG People NV
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| Issue: | Stock
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| Amount: | €230 million (includes greenshoe for €30 million)
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| Shares: | 8,614,233
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| Price: | €26.70
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| Warrants: | No
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| Placement agents: | ING Wholesale Banking, Rabo Securities
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| Investor: | Hovu Beheer NV (lead)
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| Announcement date: | Sept. 27
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| Settlement date: | Sept. 30
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| Stock price: | €24.15 at close Sept. 26
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