Convertibles Calendar: Endologix to price $75 million deal

December 4

ENDOLOGIX INC. (Nasdaq: ELGX): $75 million of five-year convertible senior notes; after the market close Wednesday; talked 2.25%-2.75%, up 27.5%-32.5%; registered; $11.25 million greenshoe; via bookrunner BofA Merrill Lynch with joint lead manager Piper Jaffray & Co.; contingent conversion at 130%; non-callable for three years, then provisionally callable at 130%; no puts; net share settlement; takeover and dividend protection; proceeds for general corporate purposes, including working capital, continued investment in geographic expansion, research and development and clinical studies; capped call transactions; Irvine, Calif.-based developer and manufacturer of minimally invasive treatments for aortic disorders.

GT ADVANCED TECHNOLOGIES INC. (Nasdaq: GTAT): $125 million of seven-year convertible notes; pricing after the market close Wednesday; talked at 3%-3.5%, up 30%-35%; concurrent stock offering for 12 million shares; Morgan Stanley & Co. LLC and Goldman Sachs & Co. as joint bookrunners; co-manager Canaccord Genuity Inc.; $18.75 million greenshoe; contingent conversion; non-callable; proceeds for working capital and general corporate purposes, which may include acquisitions and capital expenditures; Merrimack, N.H.-based provider of equipment and services that support the growth of the solar and LED industries.

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.

International Convertibles

NATIONAL AUSTRALIA BANK: A$1.5 billion of floating-rate noncumulative convertible preference shares II; Bank Bill Rate plus 325 basis points; convertible or redeemable Dec. 17, 2020 or upon the occurrence of a loss absorption event; mandatorily redeemable Dec. 19, 2022 or in the event of an acquisition event; proceeds for general corporate purposes; Melbourne-based financial services company.

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