Constellation Copper greenshoe exercised, raising 5.5% convertibles to C$69 million

By Angela McDaniels

Seattle, March 27 - Constellation Copper Corp. said the underwriters of its recent offering of 5.5% convertible senior unsecured debentures due 2012 exercised their C$9 million over-allotment option in full, raising the size of the deal to C$69 million.

The company priced C$60 million of the convertibles at par with a conversion price of C$1.86 via TD Securities Inc., Sprott Securities Inc., GMP Securities LP and Wellington West Capital Markets Inc. on Feb. 20.

The convertibles are listed on the Toronto Stock Exchange under "CCU.DB."

Constellation, a Lakewood, Colo.-based copper and zinc mining company, said the proceeds of the deal will be used to repay the company's project finance facility, to cancel associated copper price hedges and for general corporate purposes.

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