New Issue: DoubleClick $135 million convertibles yield 0%, up 40%

By Ronda Fears

Nashville, June 18 - DoubleClick Inc. launched $135 million of 20-year convertible subordinated notes at par to yield 0% with a 40% initial conversion premium.

Citigroup was lead manager of the Rule 144A deal.

The issue sold cheaply outside premium guidance for 46% to 50%.

Proceeds are earmarked to redeem DoubleClick's 4.75% convertible subordinated notes due 2006.

Terms of the deal are:

Issuer: DoubleClick Inc.

Issue:	Convertible subordinated notes
Lead manager:		Citigroup
Amount	$135 million
Greenshoe:	$20.25 million
Maturity:	June 15, 2023
Coupon:	0%
Price:	Par
Yield:	0%
Conversion premium:	40%
Conversion price:	$13.12
Conversion ratio:	76.2311
Call:	Non-callable for 5 years
Put:	In years 5, 10 and 15, payable in cash only
Contingent conversion:	125%
Price talk:	0%, up 46-50%
Pricing date:	June 17 after close
Settlement:	June 23
Distribution:	Rule 144A

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