SapuraCrest greenshoe exercised, raising convertibles to $80 million

By Caroline Salls

Pittsburgh, Dec. 13 - SapuraCrest Dana SPV Pte. Ltd. (SapuraCrest Petroleum Bhd.) said the underwriters of its recent offering of 2.5% five-year convertible bonds exercised the $10 million over-allotment option in full, raising the size of the deal to $80 million.

The Sri Kembangan, Malaysia, oil and gas drilling and services company originally priced $70 million of the securities Dec. 15 to yield 6% with an 18% initial conversion premium.

CIMB (L) Ltd. and Credit Suisse First Boston (Hong Kong) Ltd. were the lead managers for the Regulation S deal.

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