Apex Silver Mines greenshoe exercised, raising convertibles to $200 million

New York, March 30 - Apex Silver Mines Ltd. said the underwriters of its recent offering of convertible senior subordinated notes due 2024 exercised the $50 million over-allotment option in full, raising the size of the deal to $200 million.

The Denver silver and zinc mining company originally priced $150 million of the securities after the close on March 10 to yield 2.875% with a 31% initial conversion premium.

Citigroup Global Markets Inc. was bookrunner for the Rule 144A and Regulation S deal.

Apex Silver will use proceeds to help fund construction and development of its San Cristobal Project, to advance evaluation of exploration properties and for other general corporate purposes.

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