Aegis says greenshoe exercised, raising convertibles to 165 million euros

New York, April 18 - Aegis Group plc said underwriters of its recent offering of 2% senior unsecured convertible bonds due 2006 exercised the €15 million greenshoe, raising the total size to €165 million.

Aegis originally priced €150 million of the convertibles on April 16 at a yield of 3.875% and an initial conversion premium of 30% via bookrunner Societe Generale SA.

Aegis, an independent media buying and market research company, said it will use proceeds to pay earnout obligations of £30 million and to refinance maturing bank debt.

The transaction will also enhance Aegis' flexibility for funding future in-fill acquisitions, the company said.

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