Convertibles Calendar

JAN. 13 WEEK

STATE STREET CORP. (Symbol: STT): $275 million of three-year convertible SPACES in a new mandatory structure; price talk of 6.75-7.25% yield, 18-22% initial conversion premium; roadshow Monday and Tuesday with pricing after the close Tuesday; via joint lead managers Deutsche Bank Securities and Goldman Sachs; proceeds to help pay for $1.5 billion acquisition of parts of Deutsche Bank AG's global securities services.

ON THE HORIZON

UNITED STATES STEEL CORP. (Symbol: X): up to $650 million combination of debt, including convertibles, to help pay for purchase of National Steel Corp.; of the $950 million total transaction, of which $200 million is assumed liabilities, $650 million is to be financed from securities issuance, bank borrowings and cash; the Pittsburgh steelmaker did not disclose how it would be broken down; the purchase is expected to close during second quarter.

RECENT SHELF FILINGS

GOLDEN STAR RESOURCES LTD. (Symbol: GSS): $75 million shelf field Dec. 27 for stock, preferred stock, warrants and convertible debt securities; also 4.3 million shares on behalf of selling stockholders; Littleton, Colo. gold miner will use proceeds for development of mining properties in Ghana, acquisition and development of additional properties or interests, working capital and general corporate purposes.

http://www.sec.gov/Archives/edgar/data/903571/000103570402000650/0001035704-02-000650-index.htm

NABORS INDUSTRIES LTD. (Symbol: NBR): $700 million shelf filed Dec. 30 for debt securities, preferred shares, depositary shares, common stock, share purchase contracts, share purchase units and warrants; includes unspecified amount of previously registered but unsold securities; securities may be issued as convertibles; Houston land drilling contractor will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/798943/000095012902006249/0000950129-02-006249-index.htm

SAFECO CORP. (Symbol: SAFC): $775 million shelf filed Dec. 31 for common stock, preferred stock, convertible preferred stock, debt securities, convertible debt securities, stock purchase contracts, stock purchase units; includes some securities previously registered but unsold; Seattle insurance company will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/86104/000089102002002089/0000891020-02-002089-index.htm

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