Convertibles Calendar: ServiceNow, Seacor on tap

November 6

SERVICENOW INC. (NYSE: NOW): $500 million of five-year convertible senior notes; after the market close Wednesday; to yield 0%-0.5%, up 32.5%-37.5%; Rule 144A; $75 million greenshoe; via Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, BofA Merrill Lynch, RBC Capital Markets and Wells Fargo Securities LLC; non-callable for life, no puts; proceeds for general corporate purposes, including potential acquisitions and strategic transactions, and to pay the cost of the convertible note hedge transactions; San Diego, Calif.-based cloud-based IT services company.

SEACOR HOLDINGS INC. (NYSE: CKH): $200 million of 15-year convertible senior notes; after the market close Wednesday; to yield 3.25%-3.75%, up 32.5%-37.5%; Rule 144A; $30 million greenshoe; via Goldman Sachs & Co. and Deutsche Bank Securities Inc.; non-callable for five years and putable in years seven and 10; proceeds for general corporate purposes and to pay the net cost of a call spread, including convertible note hedge and warrant transactions; Fort Lauderdale, Fla.-based offshore oil, gas and marine equipment company.

INVENSENSE INC. (Nasdaq: INVN): $125 million of five-year convertible senior notes; after the market close Wednesday; to yield 2%-2.25%, up 32.5%-37.5%; Rule 144A; $18.75 million greenshoe; via Goldman Sachs & Co.; non-callable for life; proceeds for general corporate purposes, including capital expenditures and working capital, and also to pay for the cost of convertible note hedge transactions as part of a call spread; San Jose, Calif.-based maker of motion tracking devices in consumer electronics.

November 7

INCYTE CORP. (Nasdaq: INCY): $700 million of convertible senior notes in two tranches; $350 million of 2018 notes; talked at 0.625%-1.125% coupon, up 35%-40%; $350 million of 2020 notes; talked with 1.5%-2% coupon, up 35%-40%; Rule 144A; pricing after the market close Thursday; $25 million greenshoe each; joint bookrunners Goldman Sachs & Co., J.P. Morgan Securities LLC and BofA Merrill Lynch; proceeds for buying back existing 4.75% convertibles as well as R&D and general corporate purposes; Wilmington, Del.-based biopharmaceutical company.

On The Horizon

ALLY FINANCIAL INC.: U.S. Treasury Department is offering tangible equity units of Ally; concurrent initial public offering of common stock; Ally will not receive proceeds from the sale; timing, talk and deal sizes weren't yet available; bookrunners Citigroup Global Markets Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC, Barclays and Deutsche Bank Securities Inc.; shares to be listed on the NYSE under symbol ALLY; bank holding company focused on auto financing based in Detroit.

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