Talvivaara greenshoe exercised, lifts convertibles to €225 million

By Melissa Kory

Cleveland, Dec. 14 - Talvivaara Mining Co. plc said its underwriters exercised their €25 million over-allotment option in full, lifting the company's 4% convertible senior bonds due Dec. 29, 2015 to €225 million.

Talvivaara priced €200 million of the convertibles on Dec. 9 at par to yield 6.5% with an initial conversion premium of 30%. At maturity, the bonds will be redeemed at 114.5% of the principal amount.

Bank of America Merrill Lynch and JPMorgan are the joint bookrunners.

Based in Espoo, Finland, the company mines sulphide nickel from the Talvivaara mine.

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