Skechers says $15 million greenshoe exercised, raising convertibles to $90 million

New York, April 30 - Skechers USA, Inc. said the underwriters of its recent offering of 4½% convertible subordinated notes due 2007 exercised the $15 million over-allotment option, raising the size of the deal to $90 million.

Skechers originally sold $75 million of the convertibles in a Rule 144A offering after the market closed on April 3. The deal priced via CIBC World Markets at a yield of 4.5% and with a 20% initial conversion premium.

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