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Convertibles Calendar
JULY 28 WEEK:
WABASH NATIONAL CORP. (Symbol: WNC): Rule 144A; $100 million of five-year noncallable convertibles with $25 million greenshoe; price talk of 2.75-3.25% yield, 27.5-32.5% initial conversion premium; via sold book-runner Merrill Lynch; BB&T Capital Markets is a co-manager; set to price after the close Monday, July 28; full dividend protection through a conversion ratio adjustment; 110% contingent conversion trigger for life; Wabash plans to use proceeds to repay outstanding debt.
ON THE HORIZON:
ALLEGHENY ENERGY INC. (Symbol: AYE): $300 million five-year mandatory convertible trust preferreds in private placement; to be issued through Allegheny Capital Trust I; Allegheny will issue to the trust 11.875% notes due 2008 with stock warrants attached; Hagerstown, Md. utility.
RECENT SHELF FILINGS WITH THE SEC:
HEALTH CARE REIT, INC. (Symbol: HCN): $937.56 million shelf filed July 23 for debt securities, preferred stock, depositary shares, common stock, warrants and units; securities may be issued as convertibles; includes $137.56 million previously registered but unsold; Toledo, Ohio REIT will use proceeds for general business purposes.
http://www.sec.gov/Archives/edgar/data/766704/000095015203007015/l00545asv3.txt
RAYONIER INC. (Symbol: RYN): $500 million shelf filed July 22 for debt securities, common stock and preferred stock; securities may be issued as convertibles; Jacksonville, Fla. forest products company will use proceeds for general corporate purposes.
http://www.sec.gov/Archives/edgar/data/52827/000119312503021672/ds3.htm
RELIANT RESOURCES, INC. (Symbol: RRI): $3.5 billion shelf filed July 24 for debt securities, preferred stock, common stock and warrants; securities may be issued as convertibles; Houston electricity and energy company will use proceeds for general corporate purposes.
http://www.sec.gov/Archives/edgar/data/1126294/000095012903003725/h07617sv3.txt
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