Convertibles Calendar

APRIL 30 WEEK

EPICOR SOFTWARE CORP. (Nasdaq: EPIC): $200 million 20-year convertible senior unsecured notes; UBS Investment Bank, Lehman Brothers (joint books); off shelf; $30 million greenshoe; non-callable for seven years, puts in years seven, 10 and 15; contingent conversion at 130%; Irvine, Calif., developer of enterprise application software solutions will use proceeds to repay its outstanding term loan and to fund general corporate purposes; pricing Wednesday after the close; talked at a coupon of 1.875% to 2.375% and an initial conversion premium of 27.5% to 32.5%.

PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (NYSE: PEI): $250 million five-year exchangeable senior notes; to be issued by operating partnership PREIT Associates LP; Merrill Lynch, Citigroup and UBS Investment Bank (joint books); Rule 144A; $37.5 million greenshoe; non-callable, no puts; contingent exchange at 130%; Philadelphia real estate investment trust with a portfolio of mall and power and strip centers will use proceeds to fund capped call transactions, to repay part of a credit facility and for general purposes; pricing Wednesday after the close; talked at a reoffered price of 98.5 to 98.75 with a coupon of 4% and an initial exchange premium of 20%.

ON THE HORIZON

BECKMAN COULTER, INC. (NYSE: BEC): Convertible notes to fund about half of $1.55 billion financing for proposed acquisition of Biosite Inc.; financing fully committed by Morgan Stanley and Citigroup; Fullerton, Calif., company develops products used to automate biomedical tests.

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.

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