FXCM greenshoe exercised, lifts 2.25% convertibles by $22.5 million

By Tali David

Minneapolis, May 30 - Underwriters for FXCM Inc.'s 2.25% convertible senior notes exercised their over-allotment option in full, adding an additional $22.5 million to the issue, according to a news release.

The company priced an upsized $150 million of the five-year convertibles on May 29. The notes were priced at par to yield 2.25% with an initial conversion premium of 32.5%.

As previously reported, Credit Suisse Securities (USA) LLC, BofA Merrill Lynch and Morgan Stanley & Co. LLC were the joint bookrunners.

Proceeds will be used to repay borrowings under a revolving credit facility and for general corporate purposes, including potential future acquisitions, and also to pay the net cost of a call spread.

New York-based FXCM is an online provider of foreign exchange, trading and related services.

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