JUNE 30 WEEK

CABLE DESIGN TECHNOLOGIES CORP. (Symbol: CDT): Rule 144A; $110 million of 20-year convertible subordinated notes, with $16.5 million greenshoe; price talk of 3.5-4.0% yield, 42.5-47.5% initial conversion premium; via lead manager Credit Suisse First Boston; to price after the market close Tuesday; noncallable for 5 years with puts in years 5, 10 and 15; 110% contingent conversion trigger; Pittsburgh-based network communications design firm to ues proceeds to repay some $83 million of debt, mostly its bank facilities, to repurchase up to $20 million of common stock and general corporate purposes.

FISHER SCIENTIFIC INTERNATIONAL INC. (Symbol: FSH): Rule 144A; $250 million of 20.25-year convertible senior notes, with $50 million greenshoe; price talk of 2.0-2.5% yield, 36-42% initial conversion premium; via lead manager Goldman Sachs; to price before the market open Tuesday; noncallable for 7.25 years with puts at Oct. 1, 2010 and every five years thereafter; dividend protection by way of a conversion ratio adjustment.

LEVEL 3 COMMUNICATIONS INC. (Symbol: LVLT): Rule 144A; $250 million of seven-year convertible senior notes, with $37.5 million greenshoe; price talk of 2.875-3.375% yield, 18-22% initial conversion premium; via lead manager Citigroup; to price after the close Tuesday; noncallable for 4 years, then with a 150% to 175% hurdle and make-whole provision for coupon payments if called early; proceeds will be used for working capital, capital expenditures and general corporate purposes, including new product development, debt repurchases and acquisitions.

NEW CENTURY FINANCIAL CORP. (Symbol: NCEN): Rule 144A; $175 million of five-year noncallable convertible senior notes, with $35 million greenshoe; to be sold on call spread; price talk of 3.0-3.5% yield, 28-32% initial conversion premium; lead manager is Bear Stearns; Merrill Lynch is a co-manager; to price after the close Tuesday; after purchasing call options to reduce the potential dilution from conversion of the notes, mortgage finance company said proceeds would be used to pursue securitization strategies and other strategic opportunities, continue its stock repurchase program and general corporate purposes.

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

AEGON NV (Symbol: AEG): $5 billion shelf filed June 25 for common shares, debt securities, warrants, purchase contracts and units; securities may be issued as convertibles; The Hague, Netherlands insurance company will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/769218/000119312503012921/df3.htm

CAPITAL AUTOMOTIVE REIT (Symbol: CARS): $500 million shelf filed June 25 for common shares, preferred shares, depositary shares, warrants and debt securities; securities may be issued as convertibles; McLean, Va. real estate investment trust.

http://www.sec.gov/Archives/edgar/data/1049316/000095013303002235/w87744sv3.htm

SOUTHWEST GAS CORP. (Symbol: SWX): $300 million shelf filed June 24 for debt securities, trust debt securities, preferred stock, depositary shares and common stock; securities may be issued as convertibles; Las Vegas natural gas transportation and distribution company will use proceeds to retire debt, redeem trust preferreds and for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/92416/000089843003003322/ds3.htm

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