E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 9/27/2013 in the Prospect News Convertibles Daily.

Convertibles Calendar

On The Horizon

AMERICAN HOMES 4 RENT (NYSE: AMH): $100 million of perpetual convertible preferred shares; initial liquidation preference price of $25.00 per share; non-callable until Sept. 30, 2017; proceeds to repay debt, to acquire properties and for general corporate purposes; joint bookrunners Raymond James and Jefferies; NYSE listing expected; Malibu, Calif.-based real estate investment trust.

ALLY FINANCIAL INC.: U.S. Treasury Department is offering tangible equity units of Ally; concurrent initial public offering of common stock; Ally will not receive proceeds from the sale; timing, talk and deal sizes weren't yet available; bookrunners Citigroup Global Markets Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC, Barclays and Deutsche Bank Securities Inc.; shares to be listed on the NYSE under symbol ALLY; bank holding company focused on auto financing based in Detroit.

FIRST CITIZENS BANC CORP. (Nasdaq: FCZA): $25 million of perpetual convertible preferred shares; $25 per share; distribution to existing shareholders, customers and members of its communities served, and via syndication if shares remain available; placement agent Keefe, Bruyette & Woods; mandatorily convertible after six years at 120% price hurdle; proceeds to redeem series A perpetual preferred shares; to be listed on the Nasdaq; Sandusky, Ohio-based bank holding company.

SOLARCITY CORP. (Nasdaq: SCTY): $100 million of five-year convertible senior notes, downsized from $175 million; registered deal; concurrent borrowed share offering; no talk or timing; to select investors in exchange for non-disclosure agreement; via Goldman Sachs & Co., Credit Suisse Securities (USA) LLC and BofA Merrill Lynch; company is lending up to 2.8 million shares of common stock to Goldman Sachs Financial Markets LP; proceeds for general corporate purposes, including working capital, capital expenditures, potential acquisitions and strategic transactions; San Mateo, Calif., provider of clean distributed energy.

International Convertibles Calendar

OCI NV (Amsterdam: OCI); €300 million of five-year senior convertibles; par; to yield 3.375%-3.875%, up 27.5%- 32.5%; concurrent offering of €150 million of equity; €50 million greenshoe; Regulation S; joint bookrunners Barclays Bank plc and J.P. Morgan Securities plc; proceeds for general corporate purposes, including repaying debt; settlement Sept. 25; listing on the Open Market (Freiverkehr) of the Frankfurt Stock Exchange; Netherlands-based nitrogen-based fertilizer producer and engineering & construction contractor.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.