Convertibles Calendar

WEEK OF OCT. 2

DIODES INC. (Nasdaq: DIOD): $200 million 20-year convertible senior notes; UBS Securities (books); off shelf; $30 million greenshoe; non-callable for five years, puts in years five, 10 and 15; contingent conversion hurdle at 120%, contingent payment at 120%; Westlake Village, Calif., semiconductor manufacturer will use proceeds for working capital and general corporate purposes; pricing Thursday after the close; talked at a coupon of 1.875% to 2.375% and an initial conversion premium of 32.5% to 37.5%.

FOREST CITY ENTERPRISES INC. (NYSE: FCEA, FCEB): $250 million five-year putable equity-linked senior notes; Goldman Sachs (books); Rule 144A; $37.5 million greenshoe; non-callable for life, may be put at a rate equal to a number of shares of Forest City's class A common stock; Cleveland-based real estate developer will use proceeds to fund note hedge and warrant transactions, to buy back up to $25 million of class A common stock, to repay recourse debt outstanding under revolver and for general corporate purposes; talked at a coupon of 3.125% to 3.625% and an initial conversion premium of 25% to 30%; to price Wednesday after the close.

HRPT PROPERTIES TRUST: (Symbol: NYSE: HRP): $250 million series D convertible preferred stock; Merrill Lynch, Banc of America Securities LLC (joint books); registered; non-callable for five years, with a provisional call at 100% of the conversion price; Newton, Mass., real estate investment trust focused on office and industrial real estate will use proceeds to reduce outstanding revolving debt; pricing Thursday after the close; talked at a dividend of 6.25% to 6.75% and an initial conversion premium of 10% to 15%.

LECROY CORP. (Nasdaq: LCRY): $60 million 20-year convertible senior notes; Cowen & Co. (books); Rule 144A; $9 million greenshoe; non-callable for five years, puts in years five, 10 and 15; contingent conversion hurdle at 120%; Chestnut Ridge, N.Y.-based communications test equipment company will use proceeds to repay $32 million of term debt, to buy back up to $10 million of stock and to partially repay a revolving loan drawn down to fund the acquisition of Catalyst Enterprises Inc.; pricing Thursday after the close; talked at a coupon of 4% to 4.5% and an initial conversion premium of 20% to 25%.

UNITED DOMINION REALTY TRUST INC. (NYSE: UDR): $250 million five-year convertible senior notes; JP Morgan, Merrill Lynch, Wachovia Securities (joint books); Rule 144A; non-callable, no puts; contingent conversion hurdle at 125%; Highlands Ranch, Colo., real estate investment trust focused on mid-market apartment communities will use proceeds to fund convertible note hedge and warrant transactions, to repay debt under a revolving loan and for general corporate purposes; pricing Thursday after the close; talked at a coupon of 3.375% to 3.625% and an initial conversion premium of 20%, with a reoffer price of 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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