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Aegis greenshoe exercised, lifts 2.5% convertibles to £190.6 million
By Marisa Wong
Milwaukee, March 29 - Aegis Group plc announced that the underwriters of its offering of convertible bonds due 2015 exercised the £20.6 million over-allotment option in full, increasing the size of the offering to £190.6 million.
Aegis priced £170 million of five-year convertibles on March 18 to yield 2.5% with an initial conversion premium of 35%.
J.P. Morgan Cazenove and Societe Generale Corporate & Investment Banking were the joint bookrunners for the offering.
Settlement is expected to take place around April 20.
Proceeds of the offering will be used to repay short-term borrowings under the company's revolving credit facility.
Aegis is a global marketing services company based in London.
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