Markit sets constituents of Markit iBoxx Liquid USD Convertible index

By Angela McDaniels

Tacoma, Wash., Sept. 22 -Markit Group Ltd. published the 100 convertible bonds and preferred securities comprising the first Markit iBoxx Liquid USD Convertible Bond index series on Tuesday.

The index launches on Wednesday.

Markit said the index constituents were selected from the securities with the largest face value outstanding at inception. They are weighted to meet individual security, issuer and sector limits to ensure broad market coverage.

The index will be tradable using standardized cash-settled forwards on specific series, and a new series will be created every six months.

The index is accompanied by the Markit iBoxx Liquid USD Delta-Hedging Stock index, a delta-hedged total-return stock index consisting of long stock positions equal to the initial delta of each security in the corresponding Markit iBoxx Liquid USD Convertible Bond index series at inception.

This second index will be tradable using standard equity swaps. It will be rebalanced monthly and will roll every six months.

The two indexes were developed in conjunction with Goldman Sachs and Deutsche Bank.

The constituents of the Markit iBoxx Liquid USD Convertible Bond index are:

• Ford Capital Trust II's 6.5% convertible preferred stock due 2032;

• Amgen Inc.'s 0.375% convertibles due 2013;

• Medtronic Inc.'s 1.625% convertibles due 2013;

• Medtronic's 1.5% convertibles due 2011;

• Transocean Ltd.'s 1.5% convertibles due 2037 with Cusip No. 893830AV1;

• Transocean's 1.5% convertibles due 2037 with Cusip No. 893830AW9;

• Intel Corp.'s 3.25% convertibles due 2039;

• Nabors Industries Inc.'s 0.94% convertibles due 2011;

• EMC Corp.'s 1.75% convertibles due 2013;

• EMC's 1.75% convertibles due 2011;

• Hologic Inc.'s 2% convertibles due 2037;

• Transocean's 1.625% convertibles due 2037;

• Intel's 2.95% convertibles due 2035;

• Micron Technology, Inc.'s 1.875% convertibles due 2014;

• Netapp Inc.'s 1.75% convertibles due 2013;

• Qwest Communications International Inc.'s 3.5% convertibles due 2025;

• Vornado Realty Trust's 2.85% convertibles due 2027;

• Verisign Inc.'s 3.25% convertibles due 2037;

• Archer-Daniels-Midland Co.'s 0.875% convertibles due 2014;

• Microchip Technology Inc.'s 2.125% convertibles due 2037;

• Symantec Corp.'s 0.75% convertibles due 2011;

• Chesapeake Energy Corp.'s 2.5% convertibles due 2037;

• Chesapeake Energy's 2.25% convertibles due 2038;

• Symantec's 1% convertibles due 2013;

• Linear Technology Corp.'s 3% convertibles due 2027;

• Virgin Media Inc.'s 6.5% convertibles due 2016;

• Omnicare Inc.'s 3.25% convertibles due 2035;

• Vornado's 3.625% convertibles due 2026;

• Goldcorp Inc.'s 2% convertibles due 2014;

• Boston Properties LP's 2.875% convertibles due 2037;

• United States Steel Corp.'s 4% convertibles due 2014;

• International Game Technology Inc.'s 3.25% convertibles due 2014;

• Cephalon Inc.'s 2% convertibles due 2015;

• Teva Pharmaceutical Finance Co., BV's 1.75% convertibles due 2026;

• Alliance Data Systems Corp.'s 1.75% convertibles due 2013;

• ArcelorMittal's 5% convertibles due 2014;

• El Paso Corp.'s 4.99% convertible preferreds;

• Boston Properties' 3.625% convertibles due 2014;

• Peabody Energy Corp.'s 4.75% convertibles due 2041;

• UAL Corp.'s 4.5% convertibles due 2021;

• L-3 Communications Holdings Inc.'s 3% convertibles due 2035;

• Bunge Ltd.'s 4.875% convertible preferreds;

• Kinetic Concepts Inc.'s 3.25% convertibles due 2015;

• Xilinx Inc.'s 3.125% convertibles due 2037;

• Massey Energy Co.'s 3.25% convertibles due 2015;

• Gilead Sciences Inc.'s 0.5% convertibles due 2011;

• Gilead Sciences' 0.625% convertibles due 2013;

• Allergan Inc.'s 1.5% convertibles due 2026;

• Textron Inc.'s 4.5% convertibles due 2013;

• Beckman Coulter, Inc.'s 2.5% convertibles due 2036;

• Mylan Laboratories Inc.'s 1.25% convertibles due 2012;

• Carnival Corp.'s 2% convertibles due 2021;

• Ford Motor Co.'s 4.25% convertibles due 2036;

• Teva Pharmaceutical Industries Ltd.'s 0.25% convertibles due 2026;

• Newmont Mining Corp.'s 1.625% convertibles due 2017;

• Newmont Mining's 1.25% convertibles due 2014;

• Molson Coors Brewing Co.'s 2.5% convertibles due 2013;

• Mylan Inc.'s 3.75% convertibles due 2015;

• Suntech Power Holdings Co. Ltd.'s 3% convertibles due 2013;

• Lifepoint Hospitals Inc.'s 3.5% convertibles due 2014;

• Millipore Corp.'s 3.75% convertibles due 2026;

• SBA Communications Corp.'s 1.875% convertibles due 2013;

• ERP Operating LP's 3.85% convertibles due 2026;

• Interpublic Group of Cos., Inc.'s 5.25% convertible preferreds;

• Newmont Mining's 3% convertibles due 2012;

• Vornado's 3.875% convertibles due 2025;

• Cooper Cameron Corp.'s 2.5% convertibles due 2026;

• Cephalon's 2.5% convertibles due 2014;

• D.R. Horton, Inc.'s 2% convertibles due 2014;

• SBA Communications' 4% convertibles due 2014;

• Ciena Corp.'s 0.875% convertibles due 2017;

• ON Semiconductor Corp.'s 2.625% convertibles due 2026;

• Pioneer Natural Resources Co.'s 2.875% convertibles due 2038;

• Hertz Global Holdings Inc.'s 5.25% convertibles due 2014;

• Omnicom Group Inc.'s zero-coupon convertibles due 2038;

• Kinross Gold Corp.'s 1.75% convertibles due 2028;

• Affiliated Managers Group Inc.'s 3.95% convertibles due 2038;

• Covanta Holding Corp.'s 3.25% convertibles due 2014;

• Tyson Foods Inc.'s 3.25% convertibles due 2013;

• Chesapeake Energy's 2.75% convertibles due 2035;

• U.S. Bancorp's zero-coupon convertibles due 2035;

• Invitrogen Corp.'s 1.5% convertibles due 2024;

• Newell Financial Trust I's 5.25% convertible preferreds due 2027;

• DST Systems Inc.'s 4.125% convertibles due 2023;

• Best Buy Co. Inc.'s 2.25% convertibles due 2022;

• Allegheny Technologies Inc.'s 4.25% convertibles due 2014;

• Interpublic's 4.25% convertibles due 2023;

• Sybase Inc.'s 3.5% convertibles due 2029;

• King Pharmaceuticals, Inc.'s 1.25% convertibles due 2026;

• SESI LLC's 1.5% convertibles due 2026;

• Smithfield Foods Inc.'s 4% convertibles due 2013;

• Equinix Inc.'s 3% convertibles due 2014;

• Health Care REIT Inc.'s 4.75% convertibles due 2027;

• Endo Pharmaceuticals Holdings Inc.'s 1.75% convertibles due 2015;

• RadioShack Corp.'s 2.5% convertibles due 2013;

• BorgWarner Inc.'s 3.5% convertibles due 2012;

• Equinix Inc.'s 4.75% convertibles due 2016;

• Time Warner Telecom Inc.'s 2.375% convertibles due 2026;

• Anixter International Inc.'s zero-coupon convertibles due 2033; and

• General Cable Corp.'s 0.875% convertibles due 2013.

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