Greenbrier greenshoe exercised, raising convertibles to $100 million

New York, May 22 - Greenbrier Cos, Inc. said the underwriters of its recent offering of 20-year convertible senior unsecured notes exercised the $15 million over-allotment option in full, raising the size of the deal to $100 million.

The company priced the original $85 million deal after the close on May 16 with a coupon of 2.375% and an initial conversion premium of 30%.

Bear Stearns and Bank of America were the bookrunners for the Rule 144A deal.

Greenbrier is a Lake Oswego, Ore.-based maker of railcars. It will use the proceeds of the offering for general corporate purposes.

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