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Convertibles Calendar
WEEK OF OCT. 23
KEMET CORP. (NYSE: KEM): $160 million 20-year convertible senior notes; Credit Suisse, Deutsche Bank (joint books); Rule 144A; $15 million greenshoe; non-callable for five years, puts in years five, 10 and 15; contingent conversion hurdle at 130%; Simpsonville, S.C., maker of capacitors will use proceeds to buy back up to $25 million of common stock, to fund any future acquisitions and for general purposes; pricing Thursday after the close; talked at a coupon of 2.25% to 2.75% and an initial conversion premium of 25% to 30%.
WESCO INTERNATIONAL INC. (NYSE: WCC): $250 million 20-year convertible senior debentures; Lehman Brothers (books); Rule 144A; $50 million greenshoe; non-callable for five years, puts in years five, 10 and 15; contingent conversion hurdle at 120%, contingent payment at 120%; Pittsburgh distributor of electrical construction products and supplies will use proceeds to help finance acquisition of Communications Supply Holdings Inc.; pricing Thursday after the close; talked at a coupon of 1.625% to 2.125% and an initial conversion premium of 32.5% to 37.5%.
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