Convertibles Calendar: Wyndham to price Wednesday

MAY 12

GREAT PLAINS ENERGY INC. (NYSE: GXP): $250 million of convertible equity units; pricing after the close Tuesday; to yield 12% to 12.5%, up 15% to 20%; concurrent offering of 10 million shares of common equity, or about $150 million; greenshoe of up to an additional 750,000 equity units and up to 1.5 million shares of additional stock; Goldman, Sachs and J.P. Morgan joint books for both offerings; off the shelf.

MAY 13

WYNDHAM WORLDWIDE CORP. (NYSE: WYN): $200 million convertible senior notes due 2012; pricing after the close Wednesday; Credit Suisse, JP Morgan, Banc of America Securities LLC-Merrill Lynch & Co, Citigroup (joint); SEC registered; to hedge transactions and pay down revolver; Parsippany, N.J., hospitality company; price talk 3¼% to 3¾%, up 17½% to 22½%; concurrent split-rated five-year senior unsecured notes offer.

MAY 14

CASH AMERICA INTERNATIONAL INC. (NYSE: CSH): $100 million of 20-year convertibles; pricing after the close Thursday; talked to yield 5.25%-5.75%, up 20%-25%; Rule 144A; via Jefferies (books), with JMP Securities (co-manager); $15 million greenshoe; non-callable for five years, with puts in years 2014, 2019, and 2024; takeover and dividend protection; proceeds to repay indebtedness under the company's U.S. line of credit; Fort Worth, Tex.-based owner/operator of pawnshops.

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ON THE HORIZON

DELTA PETROLEUM CORP. (Nasdaq: DPTR): up to $175 million of convertible preferred shares; proceeds to be used to reduce amounts outstanding under its senior credit facility, pay other accounts payable and for working capital and general corporate purposes; company has asked lenders related to this credit agreement to forebear contingent on the rights offering to raise equity capital; par of $3, yield of 3% PIK, holders can convert immediately with mandatory conversion in three years; SEC hasn't yet declared Delta's shelf registration effective; Tracinda Corp., 39% shareholder, and another stockholder intend to purchase their pro rata share of securities under the rights offering; Denver-based independent oil and gas company.

CLOUD PEAK ENERGY INC.: $250 million of three-year mandatory convertible preferred stock, at a liquidation preference price of $50 per share, via underwriter Credit Suisse, concurrent initial public offering; Cloud Peak formerly part of Rio Tinto America Inc., an indirect wholly owned subsidiary of Rio Tinto plc, and Rio Tinto America; dividends payable on a cumulative basis; no proceeds go to Cloud Peak; Gillette, Wyo.-based coal producer.

INTERNATIONAL CONVERTIBLES

ON THE HORIZON

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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