Sirius extends greenshoe

New York, March 12 - Sirius Satellite Radio said it has extended the time period for the underwriters to exercise the over-allotment option on its recent offering of convertible notes due 2009.

The option will now expire on April 13.

Sirius priced an upsized $250 million offering of the convertibles on Feb. 13 before the open to yield 2.5% with a 41% initial conversion premium via bookrunner Morgan Stanley & Co.

The greenshoe is for $50 million.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.