Ryerson Tull greenshoe exercised, raising convertibles to $175 million

By Caroline Salls

Pittsburgh, Nov. 23 - Ryerson Tull Inc. said the underwriters of its recent offering of 3.50% convertible senior notes due 2024 exercised the $30 million over-allotment option in full, raising the size of the deal to $175 million.

The Chicago distributor and processor of metals originally priced $145 million of the securities after the close on Nov. 4 to yield 3.5% with a 45% initial conversion premium.

JP Morgan was the bookrunner for the Rule 144A deal.

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