Convertibles Calendar

JULY 19 WEEK

TITAN INTERNATIONAL INC. (Symbol: TWI); Rule 144A; $100 million of five-year convertible senior notes, non-callable, with $15 million greenshoe; price talk of 4.75% to 5.25% yield, 25% to 30% initial conversion premium; no puts or contingent features; Quincy, Ill.-based maker of off-highway wheels and tires for agricultural, earthmoving and construction vehicles, to use proceeds, together with borrowings under a new $100 million bank revolver, to repay all amounts outstanding under an existing term loan and redeem all of its 8.75% senior subordinated notes due 2007; via sole bookrunner Merrill Lynch & Co.; set to price after the close Monday.

ON THE HORIZON

ADVANCED SEMICONDUCTOR ENGINEERING INC.: (Symbol: ASX): $135 million of five-year convertible notes, with a $15 million greenshoe; via lead manager Goldman Sachs International; the Taiwanese semiconductor testing firm also plans to sell 60 million American Depositary Shares, which will each represent five ordinary shares with a par value of NT$10 each; timing will be as soon as the registration statement at the Securities and Exchange Commission becomes effective.

RECENT SHELF FILINGS WITH THE SEC:

AVANEX CORP. (Symbol: AVNX): $100 million shelf filed July 16 for common stock, preferred stock, depositary shares, warrants and debt securities; securities may be issued as convertibles; Fremont, Calif. provider of optical networking equipment will use proceeds for general corporate purposes.

ENERGY PARTNERS, LTD. (Symbol: EPL): $300 million shelf filed July 16 for debt securities, preferred stock and common stock; securities may be issued as convertibles; New Orleans, La. oil and gas exploration company will use proceeds for general corporate purposes.

EQUITY INNS, INC. (Symbol: ENN): $300 million shelf filed July 16 for debt securities, preferred stock, common stock and depositary shares; securities may be issued as convertibles; includes $133 million previously registered but unsold; Germantown, Tenn. hotel real estate investment trust will use proceeds for general corporate purposes.

FOREST OIL CORP. (Symbol: FST): $600 million shelf filed July 15 for debt securities, common stock

preferred stock, depositary shares, warrants, stock purchase contracts and stock purchase units; securities may be issued as convertibles; Denver, Colo. oil and gas exploration and production company will use proceeds for general corporate purposes.

MDC HOLDINGS, INC. (Symbol: MDC): $1 billion shelf filed July 13 for debt securities, preferred stock and common stock; securities may be issued as convertibles; includes $550 million previously registered but unsold; Denver homebuilder will use proceeds for general corporate purposes.

RENAISSANCERE HOLDINGS LTD. (Symbol: RNR): $564.25 million shelf filed July 13 for common shares, preference shares, depositary shares, debt securities, warrants, share purchase contracts, share purchase units and trust preferreds; securities may be issued as convertibles; includes $314.25 million previously registered but unsold; Pembroke, Bermuda insurer and reinsurer will use proceeds for general corporate purposes.

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