Nielsen greenshoe lifts 6.25% convertibles due 2013 to $287.5 million

By Melissa Kory

Cleveland, Feb. 1 - Nielsen Holdings NV said underwriters exercised the $37.5 million over-allotment option in full, lifting its offering of 6.25% two-year mandatory convertible subordinated bonds due Feb. 1, 2013 to $287.5 million.

Nielsen priced $250 million of the convertibles at par of $50 after the market close on Jan. 25 to yield 6.25% with an initial conversion premium of 20%.

Underwriters also exercised the option to purchase additional shares, lifting the company's initial public offering of common stock to 82.14 million shares.

Nielsen priced 71.4 million shares of common stock at $23 per share on Jan. 25.

Underwriters involved in the deal were J.P. Morgan Securities LLC as left lead bookrunner and Morgan Stanley & Co. Inc. as well as Credit Suisse Securities, Deutsche Bank Securities Inc., Goldman Sachs & Co., with Citigroup Global Markets Inc., Bank of America Merrill Lynch, William Blair, Guggenheim Securities, RBS Securities Inc., Wells Fargo, Blaylock Robert Van LLC, HSBC, Loop Capital Markets, Mizuho Securities USA, Ramirez & Co. and Williams Capital Group LP.

Proceeds will be used to redeem the company's remaining €169 million of outstanding 11.125% senior discount notes due 2016.

Nielsen is an information and measurement company incorporated in the Netherlands with its principal executive offices located in New York.

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