Alexion greenshoe exercised, raising convertibles to $150 million

By Caroline Salls

Pittsburgh, Jan. 25 - Alexion Pharmaceuticals Inc. said the underwriters of its recent offering of 1.375% convertible senior notes due 2012 exercised the $25 million over-allotment option in full, raising the size of the deal to $150 million.

The Cheshire, Conn.-based company engaged in the discovery of treatments for hematologic, cardiovascular and autoimmune disorders originally priced $125 million of the securities after the close on Jan. 19 to yield 1.375% with a 35% initial conversion premium.

Morgan Stanley & Co. Inc. was the bookrunner for the Rule 144A deal.

Proceeds will be used to retire the company's 5.75% convertible due 2007 and for general corporate purposes.

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