Oxiana greenshoe exercised, raising convertibles to $105 million

By Caroline Salls

Pittsburgh, April 8 - Oxiana Ltd. said the underwriters of its recent offering of convertible senior subordinated bonds due 2012 exercised the $15 million over-allotment option in full, raising the size of the deal to $105 million.

The Melbourne, Australia-based mining company originally priced $90 million of the securities after the close on April 5 to yield 5.25% with a 34% initial conversion premium.

Citigroup Global Markets Australia Pty. Ltd. was bookrunner for the Regulation S offering, which was sold to institutional investors outside the United States, Canada and Japan.

Oxiana will use proceeds for development at its Prominent Hill copper and gold mine in South Australia, for other exploration activities, to repay debt and for general corporate purposes.

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