International Power €30 million greenshoe fully exercised, raising exchangeables to €230 million

By Laura Lutz

Des Moines, July 14 - International Power plc. announced that underwriters exercised a €30 million dollar greenshoe in full, increasing to €230 million the total value of its offering of senior exchangeable bonds.

The underwriters were led by bookrunners ABN AMRO Rothschild, Citigroup Global Markets Ltd.

The seven-year notes, with a coupon of 3.25% and an initial exchange premium of 35%, were originally priced July 11.

The exchangeables were offered at par through special-purpose vehicle International Power Finance (Jersey) II Ltd. but are guaranteed by International Power. They are non-callable for the first three years.

International Power is a London-based electricity company that owns power plants around the world.

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