Convertibles Calendar

WEEK OF AUG. 1

AFFORDABLE RESIDENTIAL COMMUNITIES INC. (Symbol: ARC): $70 million of 20-year convertible notes via operating partnership Affordable Residential Communities LP; $10.5 million greenshoe; non-callable for five years and have puts in years five, 10 and 15; Merrill Lynch; Rule 144A; Denver-based real estate investment trust will use proceeds to purchase manufactured homes that it intends to rent, to pay down obligations under its lease receivables facility and for general corporate purposes; talked at coupon of 7.25% to 7.75%, initial conversion premium of 12.5% to 17.5%; pricing after the close Thursday.

CONSECO INC. (Symbol: CNO): $300 million convertible debentures; $30 million greenshoe; part of refinancing bank debt; also obtaining new $475 million term loan via Banc of America Securities LLC and JPMorgan; Carmel, Ind., insurance company.

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