Sirius greenshoe exercised, raising convertibles to $300 million

New York, March 31 - Sirius Satellite Radio said the underwriters of its recent offering of convertible notes due 2009 exercised the $50 million over-allotment option in full, raising the size of the deal to $300 million.

The time to exercise the greenshoe was extended to April 13 earlier in March.

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.

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