Jarden Corporation took in about $487 million after fees and expenses from its recent sale of new senior subordinated convertible notes, which are due in 2018. The initial issuance was for $450 million, but institutional investors fully exercised the option to buy another $50 million in convertible notes from Jarden. The notes pay 1.875 percent interest semi-annually. Once converted, holders will get cash, shared of Jarden's common stock or a combination, to be decided by the company. The initial conversion rate is 14.12 shares of common stock per $1,000 principal amount of convertible notes, or about $70.85 per share. That marks a 34 percent premium over the $52.87 closing price of the stock at the end of the day on Sept. 12. Jarden used about $100 million of the proceeds to repurchase shares of common stock, and will use the rest for general corporate purposes.

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