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Article: Forest City Closes Offering of $200 Million Convertible Senior Notes.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
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Forest City Enterprises, Inc. (NYSE:FCEA)(NYSE:and)(NYSE:FCEB) announced the closing of its offering of $200 million aggregate principal amount of convertible senior notes due 2016 (the "Notes"). This amount includes the exercise in full of the initial purchasers' option to purchase $25 million in aggregate principal amount of additional Notes to cover overallotments. Forest City received net proceeds from the offering of approximately $177.3 million, after deducting the initial purchasers' discounts, estimated offering expenses and the cost of the convertible note hedge transactions discussed below.
The Notes, which were sold to qualified institutional buyers ...