Convertibles Calendar

ON THE HORIZON

CLOUD PEAK ENERGY INC.: $250 million of three-year mandatory convertible preferred stock, at a liquidation preference price of $50 per share, via underwriter Credit Suisse, concurrent initial public offering; Cloud Peak formerly part of Rio Tinto America Inc., an indirect wholly owned subsidiary of Rio Tinto plc, and Rio Tinto America; dividends payable on a cumulative basis; no proceeds go to Cloud Peak; Gillette, Wyo.-based coal producer.

MIDWEST BANC HOLDINGS INC. (Nasdaq: MBHI): $110 million of depositary shares, each representing 1/100th of a share of convertible perpetual preferred stock; proceeds to improve its equity capital structure; greenshoe $15 million, or 600,000 depositary shares; shelf registration; via joint bookrunners Friedman, Billings, Ramsey & Co. and Keefe, Bruyette & Woods, Inc., with Howe Barnes and Fox-Pitt Kelton as co-managers; preferred stock will automatically convert to common stock five business days after receiving shareholder approval to increase the number of authorized shares; closing seen in the third quarter; Melrose Park, Ill.-based commercial bank with $3.7 billion in assets.

MRU HOLDINGS INC. (Nasdaq: UNCL): Up to $250 million of equity or convertible debt securities; New York-based provider of student loans will use the proceeds to finance the growth of its business, to finance private student loan originations, to repay outstanding bridge and other note obligations and for general purposes.

EAGLE BANCORP INC. (Nasdaq: EGBN): up to $30 million of non-cumulative convertible perpetual preferred stock; registered deal; to price in the third quarter after its merger with Fidelity & Trust Corp.; offering is expected to be made primarily to the community bank's shareholders; proceeds will be used to further strengthen capital; in Bethesda, Md.-based community bank.

CVR ENERGY INC. (NYSE: CVI): $125 million five-year convertible senior notes; greenshoe for $18.75 million; Goldman, Sachs & Co., Citigroup (joint books), Deutsche Bank Securities and Credit Suisse; off shelf; non-callable, no puts; escrow for interest payments to 2011; Sugar Land, Texas-based independent refiner and marketer of high-value transportation fuels will use proceeds for general corporate purposes.

INTERNATIONAL CONVERTIBLES

ON THE HORIZON

PACIFIC ASIA PETROLEUM INC. (OTCBB: PFAP): $75 million of redeemable convertible preference shares; Regulation S; proceeds to fund the purchase of participating interests held by ChevronTexaco in four coalbed methane and tight gas sand resource blocks in China; Hartsdale, N.Y.-based oil and gas company with a focus on China.

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