Euronet greenshoe exercised, raising convertibles to $140 million

By Caroline Salls

Pittsburgh, Dec. 15 - Euronet Worldwide Inc. said the underwriters of its recent offering of 1.625% convertible senior debentures due 2024 exercised the $15 million over-allotment option in full, raising the size of the deal to $140 million.

The Leawood, Kan.-based provider of electronic payment services originally priced $125 million of the securities after the close on Dec. 9 to yield 1.625% with a 42% initial conversion premium.

Banc of America Securities LLC was the book runner for the Rule 144A deal.

Euronet intends to use the net proceeds from the offering to repay $54.3 million of its outstanding debt and the remainder for general corporate purposes, which may include share repurchases.

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