Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: aerosappy who wrote (23970)	6/19/2003 7:53:31 AM
From: jim_p	Respond to of 206316

Looks like it was over subscribed with an unusually large green shoe. Reliant Resources Prices Offer of Convertible Senior Subordinated Notes HOUSTON, June 19 /PRNewswire-FirstCall/ -- Reliant Resources, Inc. (NYSE: RRI) announced today that it priced $225 million of 5% convertible senior subordinated notes due 2010 in a placement with qualified institutional buyers under rule 144A. The transaction is expected to close on June 24, 2003. The notes will be convertible at the option of the holder into Reliant Resources common stock at a conversion price of $9.54 per share, subject to adjustment in certain circumstances. The initial conversion price represents a 45% premium over the closing price of Reliant Resources common stock on June 18, 2003, which was $6.58 per share. The notes will be subordinate to senior indebtedness of RRI. The company has also granted the initial purchasers of the notes an option to purchase up to an additional $50 million of convertible senior subordinated notes. The company intends to use the proceeds from the offering of the notes to repay indebtedness under its existing credit facility and for general corporate purposes or for the possible acquisition of Texas Genco Holdings, Inc.