American Realty Capital greenshoes lift 3.75%, 3% convertible sales

By Tali David

Minneapolis, Dec. 10 - Underwriters for American Realty Capital Properties Inc.'s offerings of 3% convertibles due 2018 and 3.75% convertible senior notes due 2020 exercised their over-allotment options in full, adding an additional $37.5 million to the 2018 notes and $52.5 million to the 2020 notes, according to a press release.

The company priced an upsized $250 million of the 2018 convertibles on Dec. 5 as an add-on. The over-allotment option brings the total issuance to $597.5 million.

The company priced an upsized $350 million of the 2020 convertibles also on Dec. 5. The over-allotment option brings the total issuance to $402.5 million.

As previously reported, the bookrunners were Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC.

Proceeds will be used to repay debt and for general corporate purposes.

American Realty is a New York-based real estate investment company with a focus on single-tenant freestanding commercial properties.

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