Apex Silver greenshoe exercised, raising convertibles to $140 million

New York, Dec. 10 - Apex Silver Mines Ltd. said the underwriters of its recent offering of 4% convertible senior subordinated notes due 2024 exercised $40 million of the greenshoe, raising the size of the deal to $140 million.

The Denver silver mining company originally priced $100 million of the securities after the close on Oct. 11 to yield 4.0% with a 36% initial conversion premium. It had a $50 million greenshoe.

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

Apex Silver will use proceeds to finance a portion of the construction and development of its San Cristobal project, for advance evaluation of exploration properties, and for other general purposes.

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