Meritage greenshoe exercised, lifts convertible sale to $126.5 million

By Tali David

Minneapolis, Sept. 18 - Meritage Homes Corp. said the over-allotment option on its offering of 1.875% convertible senior notes due 2032 was exercised in full, increasing the offering by $16.5 million, according to a press release.

The company priced an upsized $110 million of the 20-year convertibles on Sept. 12. The total is now $126.5 million.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and Bank of America Merrill Lynch were the joint bookrunners.

The company plans to use proceeds for general corporate purposes.

Meritage is a Scottsdale, Ariz.-based homebuilder.

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