Wabash greenshoe exercised, raising convertibles to $125 million

New York, July 30 - Wabash National Corp. said underwriters of its recent offering of convertible senior unsecured notes due 2008 exercised the $25 million over-allotment option in full, raising the size of the deal to $125 million.

The Lafayette, Ind. truck trailer company originally sold $100 million of the securities after the market closed on July 28, pricing them to yield 3.25% with a 25% initial conversion premium.

Merrill Lynch & Co. was lead manager of the Rule 144A deal.

Wabash will use proceeds would be used to repay debt.

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