Fugro greenshoe exercised, raising convertibles to €125 million

By Caroline Salls

Pittsburgh, April 8 - Fugro NV said the underwriters of its recent issue of senior unsecured convertible bonds due 2010 exercised the €15 million over-allotment option in full, raising the size of the deal to €125 million.

The Amsterdam-based oilfield services firm originally priced €110 million of the securities on April 7 to yield 2.375% with a 33% initial conversion premium.

ABN Amro and Rabobank were the joint bookrunners for the deal.

Proceeds will be used to finance internal and external growth.

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