Alliant Techsystems greenshoe exercised, raising convertibles to $280 million

New York, Feb. 19 - Alliant Techsystems said underwriters of its recent offering of convertible senior subordinated notes due 2024 exercised the $30 million greenshoe in full, raising the size of the deal to $280 million.

The Minneapolis aerospace and defense company originally sold $250 million of the securities after the market closed on Feb. 12 to yield 2.75% with a 40% initial conversion premium.

Bookrunner for the Rule 144A deal was Banc of America Securities.

Alliant Techsystems used $75 million of the proceeds to buy back stock sold short by purchasers of the convertibles. The remainder will be used to help fund the planned acquisition of Mission Research Corp. or for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.