LogicaCMG greenshoe exercised, raising convertibles to €303.37 million

New York, Sept. 8 - LogicaCMG plc said underwriters of its offering of convertible bonds due 2008 exercised the €39.57 million over-allotment option in full, raising the size of the deal to €303.37 million.

The company originally sold €263.8 million of the securities on Sept. 4 to yield 2.875% with a 50% initial conversion premium.

ABN AMRO Rothschild and Merrill Lynch were joint lead managers for the Regulation S deal.

Proceeds will be used to refinance part of the company's current credit facilities and to provide enhanced financial flexibility.

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