Symantec issues $1.1 billion 0.75% convertibles with greenshoe, $1 billion 1% convertibles without

By Jennifer Chiou

New York, June 16 - Symantec Corp.'s $100 million greenshoe was exercised in full on one tranche of its recent convertible offering, raising the issue of 0.75% convertible senior notes due 2011 to $1.1 billion, according to an 8-K filing with the Securities and Exchange Commission.

The company priced $1 billion of the 0.75% notes along with $1 billion of 1.00% convertible senior notes due 2013 on June 12.

The issue of 1.00% convertibles also had a $100 million over-allotment option.

Both issues are convertible into Symantec stock at a conversion rate of 52.2951 shares per $1,000 principal amount of notes, equal to an initial conversion price of $19.12 per share or a 22.5% initial conversion premium.

Citigroup, Morgan Stanley and UBS Investment Bank were the bookrunners of the Rule 144A offering.

U.S. Bank NA is the trustee.

Symantec is a Cupertino, Calif., information security company.

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