Jaiprakash greenshoe exercised, raising convertibles to €165 million

By Angela McDaniels

Seattle, Feb. 7 - Jaiprakash Associates Ltd. said the underwriter of its offering of 0.5% convertible notes due 2013 has exercised its €40 million over-allotment option in full, raising the size of the deal to €165 million.

The company priced €125 million of the 0% convertibles on Feb. 1 at par with an initial conversion premium of 35%, or a conversion price of Rs. 558.773. The yield to maturity is 4.75%.

Barclays Capital was bookrunner.

Jaiprakash is a construction company based in Lucknow, Uttar Pradesh, India.

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