Anglo American greenshoe exercised, lifts 4% convertibles to $1.7 billion

By Devika Patel

Knoxville, Tenn., April 20 - Underwriters for Anglo American plc's 4% five-year convertible bonds exercised their over-allotment option in full for $200 million more of the convertibles, increasing the size of the issue to $1.7 billion, the company said in a press release.

As previously reported, the company sold the convertibles at par on Thursday in a Regulation S offering via joint lead managers and bookrunners Goldman Sachs International and Morgan Stanley & Co. International plc. BNP Paribas and UBS Ltd. were co-lead managers.

The bonds have a conversion premium of 35% and a conversion price of £18.637.

The bonds are non-callable for three years and provisionally callable thereafter at a price hurdle of 130%.

Proceeds will be used for general corporate purposes.

London-based Anglo American is a mining group with operations in Africa, Europe, South and North America and Asia.

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