Convertibles Calendar: Starwood to price $500 million in two tranches

October 2

STARWOOD PROPERTY TRUST INC.:

• $500 million of convertibles

• $75 million greenshoe

• Three- and five-year tranches, maturing Oct. 15 of 2017 and 2019

• No per tranche deal size given

• Joint bookrunners Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., and Wells Fargo Securities LLC

• Registered

• Non-callable for life

• Price talk 3.25%-3.75% and 4%-4.5%, both up 10%-15%

• Proceeds originate and purchase additional commercial mortgage loans and other target assets and investments. Proceeds also may be used for other general corporate purposes, including the payment of liabilities and other working capital needs

• Greenwich, Conn.-based commercial real estate finance company

• Nasdaq: STWD

On The Horizon

CARNIVAL GROUP INTERNATIONAL HOLDING LTD.:

• Unsecured senior convertible bonds

• Bookrunner Deutsche Bank AG, Hong Kong Branch

• Regulation S

• Concurrent equity swap with Deutsche Bank AG, London Branch as equity swap counterparty

• Proceeds to fund existing and new projects; entry into the equity swap; and for working capital and other general corporate purposes

• Bermuda-based investment holding company engaged in leisure and consumption businesses

• Hong Kong: 00996

SB FINANCIAL GROUP INC.:

• $10 million to $15 million of convertible preferred shares

• Managed by Keefe Bruyette & Woods Inc.

• Registered

• Can be converted to common stock after five years

• Proceeds to redeem a portion of the company’s junior subordinated debentures underlying the trust preferred securities issued by the company’s RST I subsidiary and for general corporate purposes

• Defiance, Ohio-based community banking, mortgage banking, wealth management services company

• Nasdaq: SBFG

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