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Scottish and Southern Energy greenshoe exercised, raising convertibles to £300 million
Pittsburgh, Sept. 30 - Scottish and Southern Energy plc said the underwriters of its recent offering of senior unsecured five-year convertible bonds exercised the £25 million over-allotment option in full, bringing the size of the deal to £300 million.
The Perth, Scotland, natural gas and electricity utility originally priced £275 million of the convertibles Sept. 29 to yield 3.75% with an 18.66% initial conversion premium.
Merrill Lynch International was the bookrunner for the Regulation S deal.
Scottish and Southern Energy will use proceeds for general corporate purposes.
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