| Issuer | Size/Structure | Date | Lead Banks
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| Freeport-McMoRan Copper & Gold Inc.
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| $2.875 billion mandatory convertible preferreds | March 22 | Merrill Lynch, JPMorgan
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| At the time, "the largest mandatory in history. They just needed to raise some money fast."
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| Countrywide Financial Corp. | May 17 | Bank of America, Citigroup, Lehman Brothers
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| $2 billion floating-rate series A convertible debentures
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| $2 billion floating-rate series B convertible debentures
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| "It's actually a pretty good deal for the company, because they're paying below swaps for $4 billion of debt and they're buying back stock, which will keep the shareholders happy," an analyst said at pricing.
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| Luminent Mortgage Capital Inc.
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| $90 million convertible senior notes | May 30 | Bear Stearns
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| "Poster child" for "financial sectors that collapsed as quickly as you can possibly imagine."
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| Transocean Inc.
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| $6 billion convertible senior notes in three tranches | Dec. 5 | Citigroup, Goldman Sachs, Lehman Brothers
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| "Instead of getting financing for a period of time from the banks, they got a term loan and, boom, they're right out there in the market to replace it with convertibles as well as straight debt. You might see a lot of deals financed this way, right into the market."
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| Washington Mutual Inc.
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| $3 billion perpetual convertible preferred stock | Dec. 12 | Lehman Brothers, Morgan Stanley
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| Possible harbinger of year to come. "I think the financial sector, the numbers that they're going to need to raise over the next year are going to be astounding."
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