Convertibles Calendar

Week of Sept. 19

GENWORTH FINANCIAL INC. (Symbol: GNW) roughly $900 million of securities due 2008 by issuer Citigroup Funding Inc. that are mandatorily exchangeable for the stock of Genworth Financial Inc.; features a 15% greenshoe; to price Sept. 21 after the close; price talk is for a coupon of 5.35% to 5.85%, with an initial conversion premium of 20%; bookrunner Citigroup Global Markets; transaction to be completed in conjunction with an offering of 60 million shares of Genworth's common stock; Genworth will not receive any proceeds from the transactions, which are intended to reduce General Electric Co.'s ownership in Genworth to 32% from 52%.

CYBERONICS INC. (Symbol: CYBX) $125 million of convertible notes due 2012, with greenshoe of $18.75 million; to price Sept. 21 after the close; price talk is for a coupon of 2.5% to 3%, with an initial conversion premium of 27.5% to 32.5%; bookrunner is Merrill Lynch; the notes are non-callable for seven years, with no puts; proceeds are for repurchasing $20 million of stock and separate convertible bond hedging transactions.

WESCO INTERNATIONAL INC. (Symbol: WCC) to price $125 million of convertible notes due 2025, plus a greenshoe of $25 million; to price concurrently with $150 million of 12-year notes; price talk wasn't available for the Rule 144A deal; expected to price Sept. 22 after the close; bookrunners are Goldman Sachs and Lehman Brothers; proceeds to be used to help redeem all of the remaining $199.7 million of Wesco Distribution's 9.125% notes due 2008 and to help finance the previously announced acquisition of Carlton -Bates Co.

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