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Premium Brands convertibles increase to $57.5 million via greenshoe
By Ashley Montgomery
Kansas City, Kan., June 18 - Premium Brands Holdings Corp. said the underwriters of its 5.7% convertible unsecured subordinated debentures due June 30, 2017 exercised the $7.5 million overallotment option in full, according to a news release.
With the greenshoe, the total amount of the convertibles is $57.5 million.
The initial conversion price is C$28.30 per share.
The company said it would use the offering proceeds to fund debt repayments, future acquisitions and capital expenditures and for general corporate purposes.
Vancouver, B.C.-based Premium Brands is a producer, marketer and distributor of branded specialty food products.
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