Goldcorp greenshoe exercised, raising convertibles to $862.5 million

New York, June 2 - Goldcorp Inc. said the underwriters of its offering of five-year convertible senior notes exercised the $112.5 million over-allotment option in full, raising the size of the deal to $862.5 million.

The company originally priced $750 million of the securities after the close Monday to yield 2% with a 30% initial conversion premium.

The Rule 144A deal was sold via bookrunners J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc. and Merrill Lynch.

The notes are non-callable with no puts, with takeover and dividend protection, and may be settled in cash or a combination of cash and shares.

Proceeds are earmarked to repay debt under Goldcorp's revolving term credit facility, with the balance to be used for general corporate purposes, including capital expenditures.

Vancouver, B.C.-based Goldcorp is a producer of gold, silver, copper, lead and zinc.

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