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Convertibles Calendar
MAY 19 WEEK
MASSEY ENERGY CO. (Symbol: MEE): Rule 144A; $100 million of 20-year convertible notes, with $15 million greenshoe; price talk of 4.25-4.75% yield, 60-65% initial conversion premium; noncallable for six years, with puts in years 6, 10 and 15; contingent conversion trigger of 120%; scheduled to price after the close Thursday; via lead manager Citigroup; Richmond, Va.-based company said it plans to use proceeds to permanently repay its revolving credit 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
LIMITED BRANDS, INC. (Symbol: LTD): $500 million shelf filed May 22 for debt securities, common stock, preferred stock, warrants, depositary shares, purchase contracts and units; securities may be issued as convertibles; Columbus, Ohio apparel retailer will use proceeds for general corporate purposes.
http://www.sec.gov/Archives/edgar/data/701985/000095010303001339/may2003_s3.htm
NEW YORK COMMUNITY BANCORP, INC. (Symbol: NYB): $600 million shelf filed May 16 for debt securities, common stock, preferred stock, warrants, depositary shares, stock purchase contracts, stock purchase units and trust preferreds; securities may be issued as convertibles; Westbury, N.Y. bank will use proceeds for general corporate purposes.
http://www.sec.gov/Archives/edgar/data/910073/000102140803008004/ds3.htm
NORTHERN TRUST CORP. (Symbol: NTRS): $500 million shelf filed May 20 for debt securities, common stock, preferred stock, warrants, stock purchase contracts, stock purchase units and trust preferreds; securities may be issued as convertibles; Chicago bank holding company will use proceeds for general corporate purposes.
http://www.sec.gov/Archives/edgar/data/73124/000095013103003030/ds3.txt
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