FEI greenshoe exercised, raising convertibles to $115 million

By Lisa Kerner

Erie, Pa., May 23 - FEI Co. said the underwriters of its 2.87% convertible subordinated note offering exercised the $15 million over-allotment option in full, raising the size of the deal to $115 million.

FEI originally fixed the terms of its $100 million offering of convertible notes with a coupon of 2.875% and an initial conversion premium of 32.5% on May 15. Each bond may initially be converted into 34.073 shares, or a conversion price of $29.35.

Merrill Lynch & Co. was the bookrunner for the Rule 144A deal.

FEI is a Hillsboro, Ore.-based maker of high-end microscopes used in research laboratories and semiconductor manufacturing.

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