Convertibles Calendar

WEEK OF DEC. 12

ENTERGY CORP. (Symbol: ETR): $500 million of mandatory convertible equity units; $50 par; to price Dec. 14 after the close; due Feb. 17, 2009; talked to yield 7.375% to 7.875%, up 20% to 24%; joint bookrunners for the registered deal are Morgan Stanley, Citigroup Global Markets and J.P. Morgan Securities; proceeds to repay debt incurred under its $2 billion, five-year revolving credit facility that expires in May 2010; New Orleans-based electric utility.

OSI PHARMACEUTICALS INC. (Symbol: OSIP): to price $100 million of 20-year convertible senior subordinated notes; talked to yield 1.75% to 2.25%, up 20% to 25%; Rule 144A deal; bookrunner UBS Investment Bank; to price Dec. 15 after the close; non-callable for five years and have a put in year five; greenshoe of $15 million; $25 million of proceeds to purchase shares of its common stock concurrently with pricing of the notes, remaining proceeds will be for general corporate purposes; Melville, N.Y. biotechnology company.

LSB INDUSTRIES INC. (Symbol: LXU): to price up to $20 million of unsecured senior subordinated debt; proceeds primarily to repay existing debt; Oklahoma City-based manufacturer and marketer of climate control products.

ON THE HORIZON

NRG ENERGY INC. (Symbol: NRG): Mandatory convertible preferreds expected to total $500 million, with concurrent offerings of $1 billion equity and $2.5 billion debt, to finance roughly $4 billion of its $5.8 billion acquisition of Texas Genco LLC; Texas Genco owners may also receive as much as $400 million preferred stock; Princeton, N.J.-based NRG has operations in the southeastern, western and northeastern states, while Texas Genco has operations in eastern Texas; the transaction is expected to close first-quarter 2006.

DRS TECHNOLOGIES INC. (Symbol: DRS): $250 million senior subordinated convertible notes; as part of a mix of borrowings to help fund its acquisition of Engineered Support Systems Inc. (ESSI); the other financings include $124.7 million under a new revolving credit facility, $200 million from an expanded existing term loan and $700 million of new high-yield debt; DRS is a Parsippany, N.J.-based provider of technology products and services to defense, government intelligence and commercial customers. ESSI is a St. Louis-based diversified supplier of integrated military electronics, support equipment and technical services.

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