|
|
Article: Merrill Lynch & CO., Inc. to Receive Approximately $2 Billion in LYONs Offering.
- Article from:
- Business Wire
- Article date:
- May 18, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Business Editors
NEW YORK--(BUSINESS WIRE)--May 18, 2001
Merrill Lynch & Co., Inc. (NYSE: MER) today announced that it received approximately $2 billion in gross proceeds from the sale of Liquid Yield Option(TM) Notes, or LYONs(R), due 2031. The gross proceeds are equivalent to $4 billion principal amount at maturity. The transaction was increased in size due to strong investor demand.
The LYONs are zero coupon senior notes convertible into Merrill Lynch common stock, and are being offered under Merrill Lynch's shelf registration statement. The LYONs offering is being sole managed by Merrill Lynch's broker-dealer subsidiary.
Merrill ...