Convertibles Calendar: Brookdale Senior, Forestar to price deals

JUNE 8

BROOKDALE SENIOR LIVING INC. (NYSE: BKD): $275 million of seven-year convertible senior notes; after the market close Wednesday; talk 2.25%-2.75% for the coupon, 27.5%-32.5% for the premium; $41.25 million greenshoe; via joint bookrunners Bank of America Merrill Lynch, J.P. Morgan Securities LLC and RBC Capital Markets; non-callable; concurrent convertible hedge and warrant transactions; proceeds to repay a portion of the company's outstanding mortgage debt, together with the proceeds from a proposed mortgage loan, and for general corporate purposes; Brentwood, Tenn.-based operator of senior living facilities.

FORESTAR GROUP INC. (NYSE: FOR): $100 million of seven-year convertible notes; pricing Wednesday after the market close; talked 3.5%-4%, up 22.5%-27.5%; non-callable; via Forestar (USA) Real Estate Group Inc. subsidiary; concurrently with $150 million of eight-year straight notes; $15 million greenshoe, talk not yet available; via Goldman Sachs & Co. as bookrunner; Rule 144A; concurrent capped call; proceeds for general corporate purposes, including investments in strategic growth opportunities, and to pay the cost of the capped call transactions; proceeds of straight notes for repaying term loan portion of its senior secured credit facility; Austin, Texas-based real estate and natural resources company.

JUNE 9

MOLYCORP INC. (NYSE: MCP): $200 million of five-year convertible senior notes; pricing Thursday after the market close; talked 3.25%-3.75%, up 27.5%-32.5%; Rule 144A; $30 million greenshoe; concurrent registered offering of 10 million shares of common stock; both deals via J.P. Morgan Securities LLC and Morgan Stanley & Co. Inc.; non-callable; no puts; takeover and dividend protection; proceeds for production capacity and expansion plan at its Mountain Pass, Calif., processing facility and for general corporate purposes; Greenwood Village, Colo.-based producer of rare earth oxides.

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