Convertibles Calendar: MercadoLibre, Cree on tap

Aug. 21:

MERCADOLIBRE INC.:

• $800 million 10-year convertible notes

• Price talk for a coupon of 1.5% to 2% and an initial conversion premium of 35% to 40%

• J.P. Morgan Securities LLC and Goldman Sachs & Co.

• Rule 144A

• Greenshoe of $120 million

• Non-callable for five-years then subject to a 130% hurdle

• Proceeds to cover the cost of the call spread and to repurchase, exchange or otherwise retire the company’s 2.25% convertible notes due 2019

• Buenos Aires-based e-commerce company

CREE INC.:

• $500 million five-year convertible notes

• Price talk for a coupon of 0.375% to 0.875% and an initial conversion premium of 30% to 35%

• BofA Merrill Lynch, Wells Fargo Securities LLC, BMO Capital Markets Corp., Citigroup Global Markets Inc. and SunTrust Robinson Humphrey Inc.

• Rule 144A

• Greenshoe of $75 million

• Non-callable for three-years then subject to a 130% hurdle

• Proceeds to repay borrowings under its revolving credit facility, to fund the company’s power and radio frequency division and for general corporate purposes

• Durham, N.C.-based manufacturer of lighting and semiconductor products for power and radio frequency applications

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