Alliant Techsystems greenshoe exercised, raising convertibles to $200 million

Pittsburgh, Aug. 12 - Alliant Techsystems Inc.'s underwriters for its recent offering of 3% 20-year contingent convertible senior subordinated notes have exercised the over-allotment option in full, raising the size of the deal to $200 million.

The Edina, Minn. advanced weapon and space systems company originally priced $180 million of the securities after the close on Aug. 9 to yield 3% with a 38% initial conversion premium.

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

Proceeds will be used to help fund Alliant's planned acquisition of PSI Group.

© 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.