Convertibles Calendar: International Coal to price

MARCH 10

INTERNATIONAL COAL GROUP INC. (NYSE: ICO): $75 million of seven-year convertibles; after the close of markets Wednesday; talked to yield 4%-4.5%, up 20%-25%; greenshoe of $11.25 million; registered, off-the-shelf; Morgan Stanley & Co. Inc. and UBS joint bookrunners; concurrent tender for existing 9% convertible notes due 2012 of which there is $139.5 million outstanding and existing 10.25% senior notes due 2014, of which there is $175 million outstanding; also concurrent offering of 21.2 million shares of its common stock and $200 million of senior secured second-priority notes due 2018; convertibles will be non-callable for life; proceeds from the stock and convertibles to tender for convertibles; proceeds from senior notes to tender for 2014 notes; coal producer is based in Scott Depot, W.Va.

ON THE HORIZON

REPUBLIC BANCORP INC.: (Nasdaq: RBCAA): Up to $20 million convertible preferred securities; to yield 5%, up about 56%; 30-year maturity; non-callable for five years; convertible at $30 per share; proceeds to support business growth and for general corporate purposes; Louisville, Ky.-based bank holding company for Republic Bank.

BANK OF VIRGINIA: Up to $10 million of convertible subordinated notes; maturity 2024; Rule 144A; coupon 9%; $25 par; each investment unit is expected to consist of $25 worth of shares and three 9% convertibles; proceeds to increase regulatory capital and support expansion through additional investment and lending; on a best-efforts basis via McKinnon & Co; Midlothian, Va.-based bank.

WACCAMAW BANKSHARES INC. (Nasdaq: WBNK): Up to $10 million of mandatory convertible perpetual preferred stock; $25 liquidation amount; to yield 7%; together with warrants, which will purchase one share of common stock at $5 per share for five years; distribution via shareholder rights offering and public offering for remainder; via McKinnon & Co. on a best-efforts basis; $1.5 million greenshoe; proceeds to enhance bank's capital ratios and support growth through lending, or to retire outstanding debt and to redeem securities, and for general corporate purposes; preferred stock and warrants will each be listed on the Nasdaq Global Market; Whiteville, N.C.-based bank holding company.

INTERNATIONAL CONVERTIBLES

ON THE HORIZON

PLAZACORP RETAIL PROPERTIES LTD. (Toronto: PLZ-V): C$20 million five-year convertibles; talked at 7.5%, up 17%; proceeds to finance future acquisitions, to retire existing debt, including C$10 million in 8.5% mortgage bonds and C$5.1 million in 8% unsecured debentures, and for general corporate purposes; matures March 31, 2015; non-callable until March 31, 2013; closing expected March 25; Fredericton, N.B.-based owner of shopping malls and strip plazas.

YTL CORP. BHD.: $400 million guaranteed exchangeable bonds; seven-year maturity; issued through YTL offshore subsidiary; callable; listing planned on the Labuan International Financial Exchange and Singapore Exchange Securities Trading; proceeds for refinancing $300 million 0% guaranteed exchangeable bonds due 2012, putable at 108.7 on May 13; expected completion June 30, 2010; CIMB Investment Bank is advising YTL on the offering; Kuala Lumpur-based diversified company with businesses in utilities, infrastructure and property development.

INTRALOT SA: Up to €150 million of a convertible bond loan; up to seven-year duration; approved at a June 4, 2009 shareholders meeting; Athens-based provider of lottery gaming systems.

UNIONE DI BANCHE ITALIANE SCPA: €640 million of four-year convertible bonds; fixed coupon and will be listed for trading; convertible at the option of both the bondholders and the group; net share settlement; Bergamo, Italy, banking group resulting from the 2007 merger of BPU - Banche Popolari Unite and Banca Lombarda e Piemontese.

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