Hanover Compressor greenshoe exercised, raising convertibles to $143.75 million

New York, Dec. 15 - Hanover Compressor Co. said underwriters of its recent offering of convertible senior notes due 2014 exercised the $18.75 million over-allotment option in full, raising the size of the deal to $143.75 million.

The Houston supplier of natural gas compression services originally sold $125 million of the securities after the market closed on Dec. 9 to yield 4.75% with a 48% initial conversion premium.

Joint bookrunners for the Rule 144A deal were JPMorgan Securities and Credit Suisse First Boston.

Hanover Compressor will use proceeds to repay debt.

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