Toreador greenshoe exercised, raising convertibles to $86.25 million

New York, Sept. 30 - Toreador Resources Corp. said the underwriters for its recent offering of 20-year convertible senior notes exercised the $11.25 million over-allotment option in full, raising the size of the deal to $86.25 million.

The Dallas-based independent energy company originally priced $75 million of the securities after the close on Sept. 21 to yield 5% with an initial conversion premium of 30%.

The Rule 144A deal sold via bookrunner UBS Investment Bank.

Proceeds will be used for general corporate purposes, including funding a portion of the company's 2005 and 2006 exploration and development.

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