Four Seasons greenshoe exercised, raising convertibles to $250 million

Pittsburgh, June 18 - Four Seasons Hotels Inc. said the underwriters of its recnt offering of 1.875% convertible senior notes have exercised the over-allotment option in full, raising the size of the deal to $250 million.

The Toronto-based operator of luxury hotels originally priced $220 million of the securities after the close on June 14 to yield 1.875% with a 30% initial conversion premium.

Morgan Stanley & Co. Inc. ran the books for the Rule 144A deal.

Four Seasons plans to use proceeds to repay debt and for general corporate purposes.

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