Convertibles Calendar

WEEK OF APRIL 17

GILEAD SCIENCES INC. (Nasdaq: GILD): $1.1 billion in two equally sized cash-pay convertible note tranches; 5-year convertible talked at a coupon of 0% to 0.5% and an initial conversion premium of 20% to 25%, 7-year talked at a coupon of 0.125% to 0.625% and an initial conversion premium of 19% to 24%; to price April 19 after the close; greenshoe of $200 million for each tranche; bookrunners are Morgan Stanley, Merrill Lynch and Banc of America; non-callable for life; contingent conversion at 130%; dividend and takeover protection; net share settlement; Rule 144A deal with registration rights; convertible note hedge and warrant transactions will be carried out; Foster City, Calif.-based biopharmaceutical company will use proceeds to buy back about $500 million of its stock and fund the convertible note hedge transactions.

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