LionOre upsized $140 million convertibles yield 3.8%, up 37%

New York, June 29 - LionOre Mining International Ltd. priced an upsized $140 million of seven-year senior unsecured convertibles to yield 3.8% with a 37% initial conversion premium.

The deal was increased from a planned size of $125 million and came at the cheap end of talk, which had put the yield at 3.3% to 3.8% with a 37% to 42% initial conversion premium.

Barclays Capital is sole bookrunner and stabilization manager of the deal, which priced after the close Tuesday.

The offering has a $10 million greenshoe, reduced from the planned $25 millon.

The conversion price is $6.13.

Proceeds from the offering will be used for general corporate purposes, the Toronto-based mining company said.

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