Convertibles Calendar

JUNE 16 WEEK

AMYLIN PHARMACEUTICALS INC. (Symbol: AMLN): Rule 144A; $150 million of five-year convertibles, with $25 million greenshoe; price talk of 1.25-1.75% yield, 40-45% initial conversion premium; senior notes non-callable for 3 years, then with a 140% hurdle, with make-whole provision for coupon payments; Goldman Sachs is a lead manager; set to price after the market close Tuesday; San Diego-based biotech firm said proceeds would be used for research and development, the planned commercialization of Symlin - a diabetes treatment - and general corporate purposes, including the potential repayment of all or part of its debt to Johnson & Johnson and possible acquisitions.

BIOMARIN PHARMACEUTICAL INC. (Symbol: BMRN): Rule 144A; $125 million of five-year convertibles, with $25 million greenshoe; price talk of 3.0-3.5% yield, 30-35% initial conversion premium; subordinated notes non-callable for 3 years; via lead manager UBS Warburg; set to price after the market close Tuesday; Novato, Calif.-based biotech firm said proceeds would be used for development and commercialization of its recently approved lead product, Aldurazyme, clinical development of other product candidates, general corporate purposes and/or to finance acquisitions.

CHUBB CORP. (Symbol: CB): $400 million mandatory, with $60 million greenshoe; price talk of 6.5-7.0% dividend, 18-22% initial conversion premium; via joint book-runners Citigroup and Goldman Sachs; 3.2-year issue will be non-callable; concurrent with an $800 million common stock follow-on; expected to price toward the end of the week.

CITIGROUP GLOBAL MARKETS HOLDINGS INC. (Symbol: REG): $300 million, with 15% greenshoe, of three-year SynDECS mandatorily exchangeable into Regency Centers Corp. shares pledged by Security Capital Group Inc., a unit of General Electric Capital Corp.; talked to yield 1.5-2.0% plus the pass-through of current stock dividends and 83.333% of any dividend increase; conversion premium is set at 20%; via sole book-runner Citigroup; Merrill Lynch is co-lead manager; set to price after the close Wednesday following a full road show; GECC is also selling up to 34.3 million Regency shares through an underwritten common stock offering and in private-sale contracts with underwriters, and is selling back to Regency up to $150 million of shares at the public offering price.

XEROX CORP. (Symbol: XRX): $650 million three-year mandatory; price talk of 6.25-6.75% yield, 18-22% initial conversion premium; after full roadshow, pricing expected June 19; joint book-runners are Citigroup, Goldman Sachs, Merrill Lynch and JPMorgan; conversion can be forced if stock is 150% of the threshold conversion price, with a dividend make-whole discounted to Treasuries; part of a refinancing package that also includes a new $1 billion bank facility, $1 billion in junk bonds and an estimated $434 million of stock, with proceeds used to take out the existing $3.1 billion bank facility.

ON THE HORIZON

VALERO ENERGY CORP. (Symbol: VLO): $250 million of three-year mandatory convertibles; with $250 million cash, proceeds would go to purchase a Louisiana refinery from Orion Refining Corp., which has filed bankruptcy; timing depends on court approval of the sale.

RECENT SHELF FILINGS

AMERICAN INTERNATIONAL GROUP, INC. (Symbol: AIG): $5.14 billion shelf filed June 12 for debt securities, warrants, purchase contracts, units, preferred stock, depositary shares and common stock; securities may be issued as convertibles; New York insurance company will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/5272/000095012303006976/y87112sv3.txt

BAXTER INTERNATIONAL INC. (Symbol: BAX): $1 billion shelf filed June 12 for common stock, preferred stock, convertible preferred stock, warrants, convertible debt securities, equity purchase contracts, equity purchase units and debt securities; Deerfield, Ill. healthcare products and services company will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/10456/000119312503009434/ds3.txt

COMMUNITY FIRST BANKSHARES, INC. (Symbol: CFBX): $120 million shelf filed June 16 for common stock, preferred stock, debt securities, capital securities and junior subordinated debentures; securities may be issued as convertibles; Fargo, N.D. bank holding company will use proceeds to redeem or repurchase outstanding securities, to repay other debt, for acquisitions and to provide working capital.

http://www.sec.gov/Archives/edgar/data/857593/000104746903021443/a2112483zs-3.htm

KIMCO REALTY CORP. (Symbol: KIM): $1 billion shelf filed June 13 for debt securities, preferred stock, depositary shares, common stock and warrants; securities may be issued as convertibles; includes $63.7 million previously registered but unsold; New Hyde Park, N.Y. shopping center owner and operator will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/879101/000112528203003854/b325361_s3.txt

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