Convertibles Calendar

AUG. 13 WEEK

VERISIGN INC. (Nasdaq: VRSN): $1.1 billion junior subordinated convertible debentures due 2037; JPMorgan; Rule 144A; $200 million greenshoe; 10-year call protection; no puts; contingent conversion subject to 130% hurdle; parity trigger at 98; takeover protection; one-way dividend protection; after seven years the contingent interest is 50 basis points if the price is more than 150 and 25 bps if the price is 50 or less; Mountain View, Calif., voice and data network services provider; purpose to repurchase common stock; pricing Tuesday; talked at coupon 2.75% to 3.25% with an initial conversion premium of 20% to 22.5%

ON THE HORIZON

WESTERN DIGITAL CORP. (NYSE: WDC): Convertible unsecured securities; along with senior unsecured notes, equity and/or a senior unsecured term loan; proceeds to refinance up to $1.25 billion unsecured bridge loan; bridge loan to fund acquisition of Komag Inc. for $32.25 per share in cash tender offer; 364-day bridge loan is led by Goldman Sachs, Citigroup and JPMorgan and is priced at Libor plus 62.5 basis points; Lake Forest, Calif.-based digital storage maker.

AMIS HOLDINGS INC. (Nasdaq: AMIS): Possible $225 million of convertible notes; to buy back stock or for acquisitions; Pocatello, Idaho-based designer and manufacturer of customer-specific mixed signal semiconductor products.

BLACK HILLS CORP. (NYSE: BKH): Mandatory convertible securities; proceeds, along with new equity and unsecured debt, to replace bridge facility; bridge facility will be used to fund the Rapid City, S.D.-based diversified energy company's acquisition of Aquila, Inc.'s electric utility in Colorado and gas utilities in Colorado, Kansas, Nebraska and Iowa, along with the associated liabilities, for $940 million.

MCMORAN EXPLORATION CO. (NYSE: MMR): Equity-linked securities to help fund acquisition of the Gulf of Mexico shelf oil and gas properties of Newfield Exploration Co.; initial financing is $800 million revolver and $800 million bridge loan; McMoRan plans to repay the bridge loan with bonds, equity and equity-linked securities; JPMorgan, Merrill Lynch are lead on revolver and bridge loan; New Orleans-based explorer, developer and producer of oil and natural gas.

MYLAN LABORATORIES INC. (NYSE: MYL): $1.5 billion to $2 billion of common stock and mandatory convertible securities; to refinance debt to fund acquisition of Merck KGaA's generics business; Canonsburg, Pa., pharmaceutical company.

TELEFLEX INC. (NYSE: TFX): convertible debt to help fund acquisition of Arrow International Inc.; also plans new credit facility and private placement notes; acquisition expected to close by the fourth quarter; Limerick, Pa., designer, manufacturer and distributor of engineered products and services for the commercial, medical and aerospace markets.

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