Convertibles Calendar

WEEK OF DEC. 11

CADENCE DESIGN SYSTEMS INC. (Nasdaq: CDNS): $500 million dual-tranche offering of five- and seven-year convertible senior notes; $250 million five-year tranche, $250 million seven-year tranche; JP Morgan, Merrill Lynch, Morgan Stanley (joint books); Rule 144A; non-callable, no puts; contingent conversion at 130%; San Jose, Calif., electronic design technology company plans to use up to $200 million of the proceeds to buy back part of its zero-coupon, zero-yield convertible senior notes due 2023; it will also use the proceeds to concurrently buy back its common stock and fund convertible note hedge and warrant transactions; five-year tranche talked at a coupon of 1.375% to 1.875% and an initial conversion premium of 15% to 20%, seven-year tranche talked at a coupon of 1.5% to 2% and an initial conversion premium of 15% to 20%; pricing Wednesday after the close.

ON THE HORIZON

EUROSEAS LTD. (OTCBB: EUSEF): Unspecified amount of two-year mandatory convertible preferred stock; Cantor Fitzgerald & Co., Oppenheimer & Co. (joint books); registered; non-callable; Maroussi, Greece-based owner and operator of drybulk and container vessels will use proceeds to pay back $7 million of debt incurred through acquisition of the vessel YM Xingang I and to acquire additional vessels.

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