Nextel Partners greenshoe exercised, raising convertibles to $175 million

New York, June 6 - Nextel Partners, Inc. said underwriters of its recent offering of 1½% convertible senior notes due 2008 exercised the $25 million over-allotment option in full, raising the size of the deal to $175 million.

The Kirkland, Wash. company originally sold $150 million of the convertibles after the market closed on May 7 to yield 1.5% with a 42.5% initial conversion premium.

Morgan Stanley was the bookrunner.

Proceeds will be used for general corporate purposes, including potential opportunistic purchases of currently outstanding debt obligations.

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