Convertibles Calendar

WEEK OF AUG. 7

TANGER FACTORY OUTLET CENTERS INC. (NYSE: SKT): $100 million 20-year exchangeable senior notes; offered by subsidiary Tanger Properties LP; Citigroup, Banc of America Securities (joint bookrunners); off shelf; greenshoe for $15 million; non-callable for five years, put in year five; dividend and takeover protection; Greensboro, N.C., real estate investment trust that owns factory outlet retail malls will use proceeds to pay down revolving loans and other debt, to make additional investments and for general purposes; pricing Thursday after the close; talked at a coupon of 3.45% to 3.95% and an initial conversion premium of 17.5% to 22.5%.

RETAIL VENTURES INC. exchangeable into DSW INC. (NYSE: DSW): $125 million of five-year mandatory premium income securities (PIES) exchangeable into class A common shares of DSW Inc.; Lehman Brothers is bookrunner; greenshoe for $18.75 million; non-callable; no puts; Columbus, Ohio-based department store operator will use proceeds to repay loans and for general purposes; DSW is a Columbus, Ohio-based footwear retailer spun off by Retail Ventures; pricing Thursday after the close; talked at a coupon of 6.125% to 6.625% and an initial conversion premium of 27.5% to 32.5%.

ON THE HORIZON

GOL LINHAS AEREAS INTELIGENTES SA (NYSE: GOL): $100 million offering of 20-year convertible senior unsecured notes; pricing expected after registration is approved; Morgan Stanley is bookrunner; also concurrent primary offering of 2.5 million preferred shares and offer of convertible debentures in Brazil; greenshoe for $15 million; non-callable for five years; puts in years five, 10 and 15; contingent conversion at 120%; Sao Paulo, Brazil-based low cost airline carrier will use proceeds to buy aircraft, equipment and materials.

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