Convertibles Calendar

MARCH 18

HARTFORD FINANCIAL SERVICES GROUP INC. (NYSE: HIG): $500 million of mandatory convertible preferred stock; par of $25 per depositary share; talked to yield dividend of 7.25%-7.75%, up 18%-22%; $75 million greenshoe; final terms after the market close on Thursday; concurrent offerings of $1.45 billion of common stock and $1.1 billion of senior straight notes; registered; proceeds to be used to repurchase $3.4 billion of Harford preferred shares issued to the U.S. Treasury under the Treasury's Capital Purchase Program; also repurchasing senior debt maturing in 2010 and 2011; Goldman Sachs & Co. and J.P. Morgan Securities Inc. will act as joint bookrunners; Hartford, Conn.-based insurance and financial services company.

ON THE HORIZON

WACCAMAW BANKSHARES INC. (Nasdaq: WBNK): Up to $10 million of mandatory convertible perpetual preferred stock; $25 liquidation amount; to yield 7%; together with warrants, which will purchase one share of common stock at $5 per share for five years; distribution via shareholder rights offering and public offering for remainder; via McKinnon & Co. on a best-efforts basis; $1.5 million greenshoe; proceeds to enhance bank's capital ratios and support growth through lending, or to retire outstanding debt and to redeem securities, and for general corporate purposes; preferred stock and warrants will each be listed on the Nasdaq Global Market; Whiteville, N.C.-based bank holding company.

INTERNATIONAL CONVERTIBLES

ON THE HORIZON

PLAZACORP RETAIL PROPERTIES LTD. (Toronto: PLZ-V): C$20 million five-year convertibles; talked at 7.5%, up 17%; proceeds to finance future acquisitions, to retire existing debt, including C$10 million in 8.5% mortgage bonds and C$5.1 million in 8% unsecured debentures, and for general corporate purposes; matures March 31, 2015; non-callable until March 31, 2013; closing expected March 25; Fredericton, N.B.-based owner of shopping malls and strip plazas.

INTRALOT SA: Up to €150 million of a convertible bond loan; up to seven-year duration; approved at a June 4, 2009 shareholders meeting; Athens-based provider of lottery gaming systems.

UNIONE DI BANCHE ITALIANE SCPA: €640 million of four-year convertible bonds; fixed coupon and will be listed for trading; convertible at the option of both the bondholders and the group; net share settlement; Bergamo, Italy, banking group resulting from the 2007 merger of BPU - Banche Popolari Unite and Banca Lombarda e Piemontese.

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