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Convertibles Calendar: Jaguar Mining, Hovnanian to price
FEBRUARY 3
JAGUAR MINING INC.: (NYSE: JAG): $90 million of five-year convertible notes; Rule 144A offering; after the market close Thursday; talked to yield 5.5%-6%, up 32.5%-37.5%; via bookrunner Bank of America Merrill Lynch; over-allotment option for an additional $13.5 million of notes; proceeds to develop its Gurupi Project in Northern Brazil and for working capital and general corporate purposes; non-callable; no puts; dividend and takeover protection; Concord, N.H.-based gold mining concern.
HOVNANIAN ENTERPRISES INC. (NYSE: HOV): $75 million offering of tangible equity units; 25% par; expected to price late Thursday; talked 7.25%-7.75%, up 18%-22%; three-year maturity; 15% greenshoe; registered; concurrent $50 million offering of common stock and $150 million offering of straight notes; via Credit Suisse Securities, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, with Bank of America Merrill Lynch, Deutsche Bank Securities Inc. and Wells Fargo as the co-managers; proceeds for funding repurchase of debt; homebuilder based in Red Bank, N.J.
TO BE DETERMINED
MOLYCORP INC. (NYSE: MCP): to price $172.5 million mandatory convertible preferred stock; concurrent $500 million secondary offering of common stock; price talk wasn't immediately available; pricing seen Jan. 31 week; JPMorgan and Morgan Stanley joint bookrunners; proceeds to fund planned expansion of Mountain Pass facility in California; Greenwood Village, Colo.-based producer of rare earth oxides.
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