Liberty Global greenshoe exercised; convertibles total $935 million

By Marisa Wong

Milwaukee, Nov. 16 - The underwriters of Liberty Global, Inc.'s recent offering of 4.5% convertible senior notes due 2016 exercised the $85 million over-allotment option in full on Nov. 13, according to an 8-K filed with the Securities and Exchange Commission.

The total size of the Rule 144A transaction has been increased to $935 million.

Liberty Global priced $850 million of seven-year convertibles on Nov. 13 to yield 4.5% with an initial conversion premium of 15%.

Goldman Sachs & Co. is the bookrunner.

The sale is expected to close on Nov. 18.

Net proceeds are estimated at $907 million and will be used to fund the acquisition of Unitymedia GmbH.

Liberty Global is an international cable operator based in Englewood, Colo.

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