CGGVeritas greenshoe exercised, lifts convertibles to €360 million

By Rebecca Melvin

New York, Nov. 15 - Underwriters for CGGVeritas' issue of 1.25% six-year convertible bonds in the Oceanes structure exercised their over-allotment option in full for €45 million more of the convertibles, increasing the issue size to €360 million, the company said in a press release.

As previously reported, CGGVeritas sold the convertibles at par on Nov. 13 in a Regulation S offering via bookrunners BNP Paribas, Bank of America Merrill Lynch, Credit Suisse and Societe Generale.

Proceeds will be used to finance a portion of the €1.2 billion acquisition of Fugro's Geoscience Division under a Sept. 24 sale and purchase agreement.

Paris-based CGGVeritas is a geophysical services company.

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