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AngloGold greenshoe exercised, raising convertibles to $1 billion
New York, Feb. 25 - AngloGold Ltd. said the underwriters of its recent offering of convertible bonds due 2009 exercised the $100 million over-allotment option in full, raising the size of the deal to $1 billion.
The South African gold miner originally issued $900 million of the securities on Feb. 19 via its AngloGold Holdings plc unit. They were priced to yield 2.375% with a 60% initial conversion premium.
Deutsche Bank Securities and Citigroup Global Markets Inc. were joint lead managers of the deal.
AngloGold will use proceeds to reduce debt, fund costs related to the proposed merger with Ashanti Goldfields Co. Ltd. and for general corporate purposes.
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