Convertibles Calendar

ON THE HORIZON

BLACK HILLS CORP. (NYSE: BKH): Mandatory convertible securities; proceeds, along with new equity and unsecured debt, to replace bridge facility; bridge facility will be used to fund the Rapid City, S.D.-based diversified energy company's acquisition of Aquila, Inc.'s electric utility in Colorado and gas utilities in Colorado, Kansas, Nebraska and Iowa, along with the associated liabilities, for $940 million.

ENERGY PARTNERS LTD. (NYSE: EPL): Possible issue of up to $450 million convertible notes; proceeds, along with $300 million four-year senior secured revolving credit facility and possible note issue (combined size of convertibles and/or notes to be $450 million); to refinance the company's existing credit facility, refinance its 8¾% senior notes and fund a self-tender offer for the repurchase of up to 8.7 common shares for about $200 million; Bank of America is lead arranger, bookrunner and administrative agent on the revolver; Energy Partners is a New Orleans-based oil and natural gas exploration and production company.

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