Convertibles Calendar

On The Horizon

UNITED TECHNOLOGIES CORP. (NYSE: UTX): $1.5 billion of mandatory convertibles; to fund proposed acquisition of Goodrich Corp.; Hartford, Conn.-based technology and services provider to the building and aerospace industries.

International

JUNE 12

PETROMINERALES LTD. (Toronto: PMG): $400 million of five-year convertible bonds; at par; to yield 2.875%-3.625%, up 32.5%-37.5% above May 31 closing share price; concurrent tender for $150 million-$275 million of existing 2.625% convertibles due 2016 from offshore holders; deals are contingent on each other; modified Dutch auction purchase price between 95-100; 5 million and 7 million share buyback also planned at C$13.80 per share; proceeds of about $70 million if all three transactions completed; proceeds for working capital and to fund oil and gas exploration and development in Latin America; ABG Sundal Collier Norge ASA manager of offering and buyback; Bogota, Colombia-based oil exploration and production company.

On The Horizon

ATLANTIC POWER CORP. (NYSE: AT, Toronto APC): up to C$125 million of convertible unsecured subordinated debentures; concurrently with common stock offering; proceeds to fund its equity commitment in Canadian Hills, remaining proceeds to fund growth and for general corporate purposes; British Columbia-incorporated, Boston-based independent power producer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.