Convertibles Calendar: BlackRock Kelso offers $100 million

FEBRUARY 12

BLACKROCK KELSO CAPITAL CORP.: $100 million of unsecured convertible notes due Feb. 15, 2018; $15 million greenshoe; price talk between 4.625% and 5.125%; conversion premium expected between 10% and 15%; Rule 144A offering; non-callable for life; Citigroup Global Markets Inc. and BMO Capital Markets (active); BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. (passive); proceeds to repay credit facility borrowings and for general corporate purposes; New York-based externally managed business development company.

CLIFFS NATURAL RESOURCES INC.: $500 million of class A mandatory convertible preferred stock; $7.5 million greenshoe; mandatory conversion occurs Feb. 15, 2016; J.P. Morgan Securities LLC and BofA Merrill Lynch (joint); proceeds to pay down term loan facility and for general corporate purposes; Cleveland-based mining company.

International Convertibles Calendar

ON THE HORIZON

ASIA CEMENT CORP. (Taiwan: 1102): less than $300 million of euro convertible bonds; tentatively set 0% coupon and five-year maturity; proceeds to repay loans, to purchase overseas raw materials and for operating capital; Taipei, Taiwan, cement producer.

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