Convertibles Calendar

OCTOBER 11

PENN VIRGINIA CORP. (NYSE: PVA): $50 million of convertible preferred shares; $100 per share; after the market close Thursday; talked to yield 5.5%-6%, 20%- 25%; registered; concurrent offering of 12 million shares of common stock; $7.5 million greenshoe; joint bookrunners Credit Suisse Securities (USA) LLC (active), RBC Capital Markets and Wells Fargo Securities (passive). Co-managers Capital One Southcoast Inc. and Scotia Bank-Howard Weill; proceeds to repay revolving credit facility and for general corporate purposes; non-callable; provisionally callable after five years at 130% price hurdle; physical conversion settlement; change-of-control and dividend protection; Radnor, Pa.-based oil and gas driller.

ON THE HORIZON

PROVECTUS PHARMACEUTICALS INC. (OTC: PVCTP): series A 8% convertible preferreds; $4 per share; concurrent series D warrants; via underwriter Maxim Group LLC; proceeds will be used for general corporate purposes; convertible preferred stock will be convertible into common stock; further details not available; Knoxville, Tenn.-based dermatology and oncology pharmaceutical company.

International Convertibles Calendar

ON THE HORIZON

BENDIGO AND ADELAIDE BANK LTD. (Australia: BEN): A$125 million of convertible preference shares; par A$100; to yield fixed margin of 5% to 5.5% over the floating Australian bank bill rate; public offering; proceeds will count toward tier 1 capital; joint lead managers are Evans and Partners Pty Ltd., J.P. Morgan Australia Ltd., Macquarie Capital (Australia) Ltd., and Morgan Stanley Australia Ltd.; may be converted or redeemed on Dec. 13, 2017 subject to certain conditions at 102.56% of ordinary shares per preference share; may be mandatorily convertible into ordinary shares at 102.56% on Dec. 13, 2019; no puts or early conversion; to close Oct. 25; Victoria, Australia-based regional bank.

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, purchase overseas raw materials and for operating capital; Taipei, Taiwan-based cement producer.

TPK HOLDING CO. LTD. (Taiwan: 3673): up to $250 million of overseas convertible bonds; par of $250,000; tentatively set 0% coupon and five-year maturity; to be sold by international underwriters outside Taiwan in a public offering; underwriters to be announced; proceeds to be used to purchase materials overseas; Taipei, Taiwan-based maker of capacitative touch technology products used in smartphones and tablets.

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