Convertibles Calendar

ON THE HORIZON

CHIQUITA BRANDS INTERNATIONAL INC. (Symbol: CQB): undetermined amount of perpetual convertible preferreds and straight bonds, totaling together at least $350 million; also plans new bank credit facility, estimated at least at $600 million, which was expected to launch in mid-March; proceeds plus at least $75 million of cash on hand are earmarked to fund the Cincinnati-based produce distributor's $855 million cash acquisition of the Fresh Express unit of Performance Food Group Co.; Wachovia Securities is administrative agent on the bank financing.

PNM RESOURCES INC. (Symbol: PNM): $200 million of equity-linked securities as part of financing package for $1.024 billion acquisition of TNP Enterprises Inc.; timing to coincide with acquisition closing 9 to 12 months from announcement on July 25; letter of intent obtained for the purchase of $100 million of the equity-linked securities from an existing shareholder; Albuquerque, N.M., electric utility also plans to issue $250 million of common equity, of which $95 million will go to TNP Enterprises shareholders, and place $100 million of long-term senior notes; expected ratings BBB/Baa2.

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