STMicroelectronics greenshoe exercised, bringing deal to $974 million

By Lisa Kerner

Erie, Pa., March 17 - STMicroelectronics NV said the underwriters of its 10-year zero-coupon convertible bonds exercised their 5% over-allotment option of $46.3 million, bringing the total size of the deal to $974 million.

STMicroelectronics previously priced $927.7 million of 10-year zero-coupon convertible bonds on Feb. 15 at par to yield 1.5% with an initial conversion premium of 30%.

Merrill Lynch and UBS Investment Bank were joint bookrunners for the Rule 144A and Regulation S deal.

STMicroelectronics is a semiconductor company based in Geneva, Switzerland.

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