Convertibles Calendar

WEEK OF DEC. 4

FORD MOTOR CO. (NYSE: F): $3 billion 30-year convertible senior notes; Citigroup, Goldman Sachs, JP Morgan, Deutsche Bank, Lehman Brothers, Merrill Lynch, Pierce, Fenner & Smith and Morgan Stanley (joint books); off shelf; $450 million greenshoe; non-callable for seven years, then subject to 140% hurdle until year 10; puts in years 10 and 20; Dearborn, Mich., auto maker will use proceeds along with $15 billion of senior secured debt to address near- and medium-term negative operating-related cash flow, to fund restructuring and to provide a liquidity cushion against unexpected events; to price Wednesday after the close; talked at a coupon of 4.75% to 5.25% and an initial conversion premium of 23% to 27%.

ACADIA REALTY TRUST (NYSE: AKR): $100 million 20-year convertible senior notes; Merrill Lynch, Lehman Brothers (joint books); Rule 144A; $15 million greenshoe; non-callable for five years; putable in years five, 10 and 15; contingent conversion at 130%; White Plains, N.Y., real estate investment trust focused on retail properties will use proceeds to repay outstanding debt, to fund capital commitments and for general purposes; pricing Tuesday after the close; talked at a coupon of 3.5% to 4% and an initial conversion premium of 20% to 25%.

FIRST POTOMAC REALTY TRUST (NYSE: FPO): $100 million five-year exchangeable senior notes;to be issued by operating partnership First Potomac Realty Investment LP, exchangeable into common stock of listed company; Wachovia; Rule 144A; $15 million greenshoe; non-callable, non-putable; contingent exchange at 130%; Bethesda, Md., real estate investment trust that owns industrial and flex properties in the Washington metropolitan area, Virginia and Maryland, will use proceeds to repay outstanding debt, to fund hedging transactions and for general purposes, including future acquisitions; pricing Tuesday after the close; talked at a coupon of 4% and an initial exchange premium of 20% with a reoffered price of 99.25 to 99.75.

MANNKIND CORP. (Nasdaq: MNKD): $100 million seven-year convertible senior notes; Merrill Lynch, JP Morgan (joint books); off shelf; $15 million greenshoe; non-callable; Valencia, Calif., drug developer will use proceeds for clinical trial costs, for research and development and for general purposes; concurrent offering of 17.5 million shares; pricing Dec. 6, talked at a coupon of 3.75% to 4.25% and an initial conversion premium of 22% to 28%.

ON THE HORIZON

ACQUICOR TECHNOLOGY INC. (Amex: AQR): $100 million five-year convertible senior notes; $15 million greenshoe; CRT Capital Group; Rule 144A; non-callable for three years, no puts; Newport Beach, Calif.-based blank-check company formed to acquire technology businesses; will use proceeds to help fund acquisition of Jazz Semiconductor for $260 million; talked at a coupon of 8% to 8.5% and an initial conversion premium of 25% to 30%.

EUROSEAS LTD. (OTCBB: EUSEF): Unspecified amount of two-year mandatory convertible preferred stock; Cantor Fitzgerald & Co., Oppenheimer & Co. (joint books); registered; non-callable; Maroussi, Greece-based owner and operator of drybulk and container vessels will use proceeds to pay back $7 million of debt incurred through acquisition of the vessel YM Xingang I and to acquire additional vessels.

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