Dynegy greenshoe exercised, raising convertibles to $225 million

New York, Aug. 26 - Dynegy Inc. said underwriters of its recent sale of convertibles subordinated debentures due 2023 exercised the $50 million over-allotment option in full, raising the size of the deal to $225 million.

The Houston energy company originally sold $175 million of the securities after the market closed on July 31 to yield 4.75% with a 30% initial conversion premium.

Credit Suisse First Boston and Morgan Stanley were joint bookrunners of the Rule 144A deal.

Proceeds will be used to repay part of Dynegy's term loan B.

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