MDC Partners greenshoe brings 8% debenture offering to C$45 million

By Jennifer Chiou

New York, June 28 - MDC Partners Inc. announced underwriters had exercised C$5 million of the C$10 million greenshoe, lifting its issue of 8.0% convertible unsecured subordinated debentures due June 30, 2010 to C$45 million.

The debentures are convertible into MDC Partners class A subordinated voting shares at any time at a conversion price of C$14.00 per share.

The original offering priced June 8 via lead manager Scotia Capital Inc. The syndicate also included CIBC World Markets Inc., TD Securities Inc. and GMP Securities Inc.

Toronto-based MDC Partners, which offers marketing services, will use proceeds to reduce outstanding indebtedness under its revolving credit agreement.

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