Apria greenshoe exercised, raising convertibles to $250 million

New York, Aug. 20 - Apria Healthcare Group Inc. said underwriters of its recent offering of convertible senior notes due 2033 exercised the $50 million greenshoe in full, raising the size of the deal to $250 million.

The Lake Forest, Calif. provider of home therapy and equipment originally sold $200 million of the securities after the market closed on Aug. 14 to yield 3.375% with a 32% initial conversion premium.

Banc of America, JPMorgan and Morgan Stanley were lead managers for the Rule 144A deal.

Apria used $100 million of the proceeds to buy $100 million worth of shares sold short by purchasers of the notes. The remaining proceeds were used for general corporate purposes, which may include additional share repurchases and acquisitions within the next 12 months.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.