Six Flags greenshoe exercised, raising convertibles to $299 million

By Caroline Salls

Pittsburgh, Nov. 23 - Six Flags Inc. said the underwriters of its recent offering of 4.5% convertible senior notes due 2015 exercised the $39 million over-allotment option in full, raising the size of the deal to $299 million.

The New York City-based theme park operator originally priced $260 million of the securities after the close Nov. 15 to yield 4.5% with a 20% initial conversion premium.

Lehman Brothers Inc. was the bookrunner for the registered deal.

Proceeds will be used to repurchase or redeem a portion of Six Flags' outstanding 9½% senior notes due 2009 and 8 7/8% senior notes due 2010.

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