Convertibles Calendar

SEPT. 25 WEEK

BRANDYWINE REALTY TRUST (NYSE: BDN): $300 million 20-year exchangeable unsubordinated notes; Merrill Lynch, Bear Stearns, Lehman Brothers (joint books); Rule 144A; $45 million greenshoe; non-callable for five years, puts in years five, 10 and 15; contingent exchange hurdle at 130%; Radnor, Pa., real estate investment trust will use proceeds to buy back $60 million of common stock and partially repay revolving loan; will also invest in government or short-term securities pending the redemption of its $300 million floating-rate guaranteed notes due 2009; pricing after the close Thursday; talked at a coupon of 3.625% to 3.875% with an initial exchange premium of 20% and reoffered at 99.

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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