Convertibles Calendar

SEPT. 11 WEEK

AMERICREDIT CORP. (NYSE: ACF): two-tranche $500 million offering of convertible senior notes; $250 million five-year tranche talked at a coupon of 0.625% to 1.125% and an initial conversion premium of 13% to 17%, $250 million seven-year tranche talked at a coupon of 2% to 2.5% and an initial conversion premium of 23% to 27%; greenshoe for $25 million for each tranche; JP Morgan, Credit Suisse, Deutsche Bank (joint books); Rule 144A; Fort Worth, Texas-based finance company will use proceeds to buy back $200 million of common stock and to enter into convertible note hedge and warrant transactions, remainder for general corporate purposes; pricing after the close Tuesday;

BRISTOW GROUP INC. (NYSE: BRS): $200 million of three-year mandatory convertible preferred stock talked at a dividend of 5.25% to 5.75% and a threshold appreciation range of 20% to 25%; Credit Suisse, Goldman Sachs (joint books); off shelf; 4 million preferred shares at $50 apiece; $30 million greenshoe; non-callable; forced conversion subject to 150% hurdle; Houston-based provider of helicopter services to the offshore oil and gas industry plans to use the proceeds of the deal to fund aircraft purchases; pricing Wednesday after the market closes.

CORPORATE OFFICE PROPERTIES TRUST (NYSE: OFC): $175 million of 20-year exchangeable senior notes talked at a coupon of 3.125% to 3.625% and an initial exchange premium of 20% to 25%; Bank of America, JP Morgan (joint books); Rule 144A offering; $25 million greenshoe; to be sold by operating partnership Corporate Office Properties LP, exchangeable into common stock of listed company; non-callable for five years, puts in years five, 10 and 15; Columbia, Md.-based developer of suburban office properties will use proceeds to repay several construction loans and an unsecured revolving credit line; pricing after the close Tuesday.

NEW PLAN EXCEL REALTY TRUST INC. (NYSE: NXL): $175 million 20-year convertible senior notes talked at a coupon of 3.7% and an initial conversion premium of 20% to 22%; Merrill Lynch, Bank of America (joint books); Rule 144A; $25 million greenshoe; non-callable for five years, puts in years five, 10 and 15; New York-based real estate investment trust focusing on community and neighborhood shopping centers will concurrently buy back $50 million of common stock and will also repay a $350 million revolving credit line and fund general corporate purposes; pricing Wednesday.

POLYMEDICA CORP. (Nasdaq: PLMD): $150 million five-year convertible subordinated notes talked at a coupon of 1% to 1.5% and an initial conversion premium of 10% to 14%; Bank of America, Deutsche Bank (joint books); Rule 144A; $30 million greenshoe; non-callable, no puts; 120% contingent conversion hurdle; Wakefield, Mass., provider of health care products and services for patients with chronic diseases will use proceeds to buy back about $29 million of its common stock from convertible purchasers, to fund convertible note hedge and warrant transactions and to pay off about $94 million of bank debt; to price Wednesday.

TRIUMPH GROUP INC. (NYSE: TGI): $175 million of 20-year convertible senior subordinated notes, talked at a coupon of 2.375% to 2.875% and an initial conversion premium of 30% to 35%; Bank of America (books); Rule 144A; $26.25 million greenshoe; non-callable for five years, puts in years five, 10 and 15; contingent conversion at 130%; Wayne, Pa.-based maker of aircraft components will use proceeds to prepay its class A and B senior notes due 2012 and to repay part of a revolving credit line; pricing after the close Wednesday.

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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