Colony Financial Prices $200 Mln Of Convertible Senior Notes

(RTTNews) - Colony Financial, Inc. (CLNY) said Thursday that it has priced its public offering of $200 million aggregate principal amount of its 3.875% Convertible Senior Notes due 2021 for total gross proceeds of $200 million.

The company has granted to the underwriters a 30-day option to purchase up to an additional $30 million aggregate principal amount of the Notes to cover over-allotments, if any.

The offering is expected to close on or about January 28.

The company plans to use the net proceeds from the offering to repay amounts outstanding under its secured revolving credit facility, and to use any remainder of the net proceeds from this offering to acquire its target assets in a manner consistent with its investment strategies and investment guidelines and for working capital and general corporate purposes.