Fleetwood greenshoe exercised, raising convertibles to $100 million

New York, Dec. 22 - Fleetwood Enterprises, Inc. said underwriters of its recent offering of convertible senior subordinated debentures due 2023 exercised the $20 million over-allotment option in full, raising the size of the deal to $100 million.

The Riverside, Calif. manufactured housing and recreational vehicle company priced $80 million of the securities after the market closed on Dec. 16 to yield 5.0% with a 27% initial conversion premium.

Bookrunner for the Rule 144A deal was Lehman Brothers.

Fleetwood will use proceeds to repurchase or redeem a portion of its 6% and 9.5% convertible trust preferreds.

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