Boston Private greenshoe exercised, raising convertibles to $105 million

New York, Oct. 27 - Boston Private Financial Holdings, Inc. said the underwriters of its offering of 30-year convertible trust preferred securities exercised the $30 million over-allotment option in full, raising the size of the deal to $105 million.

Boston Private originally priced $75 million of the securities before the market opened on Oct. 6 to yield 4.875% with a 36.5% initial conversion premium.

Merrill Lynch & Co. was bookrunner of the Rule 144A deal.

Boston Private will use proceeds from the greenshoe for acquisitions and general corporate purposes.

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