Casual Male greenshoe exercised, raising convertibles to $100 million

New York, Nov. 26 - Casual Male Retail Group Inc. said underwriters of its recent offering of convertible senior subordinated notes due 2024 exercised the $15 million over-allotment option in full, raising the size of the deal to $100 million.

The Canton, Mass., retailer of big and tall men's apparel originally sold $85 million of the securities after the market closed on Nov. 12 to yield 5% with a 35% initial conversion premium.

Thomas Weisel Partners was bookrunner for the Rule 144A deal.

Casual Male said $55.5 million of the proceeds will be used to retire debt early, to buy 1 million shares for $7.9 million and to repay revolving credit facility borrowings. The company may also buy back up to 1 million more shares.

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