Convertibles Calendar

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.

PNM RESOURCES INC. (Symbol: PNM): $200 million of equity-linked securities as part of financing package for $1.024 billion acquisition of TNP Enterprises Inc.; timing to coincide with acquisition closing 9 to 12 months from announcement on July 25; letter of intent obtained for the purchase of $100 million of the equity-linked securities from an existing shareholder; Albuquerque, N.M., electric utility also plans to issue $250 million of common equity, of which $95 million will go to TNP Enterprises shareholders, and place $100 million of long-term senior notes; expected ratings BBB/Baa2.

SYMBOL TECHNOLOGIES INC. (Symbol: SBL): Symbol Technologies Inc. plans capital markets equity or equity-linked transaction later this year to fund $230 million acquisition of privately-held Matrics Inc., purchase to be financed with short-term borrowings under a new bank credit facility, via JPMorgan Securities, then a capital markets transaction later as market conditions permitting; the acquisition is expected to close in third quarter.

RECENT SHELF FILINGS WITH THE SEC:

INTERSTATE HOTELS & RESORTS, INC. (Symbol: IHR): $150 million shelf filed Aug. 25 for debt securities, preferred stock, common stock and warrants; securities may be issued as convertibles; Arlington, Va. hotel management company will use proceeds for general corporate purposes.

PLUM CREEK TIMBER CO., INC. (Symbol: PCL): $400 million shelf filed Aug. 24 for preferred stock, common stock, depositary shares, warrants and debt securities; securities may be issued as convertibles; Seattle land and timber owner will use proceeds for general operational purposes.

SBC COMMUNICATIONS INC. (Symbol: SBC): $15.5 billion shelf filed Aug. 23 for debt securities, preferred stock, depositary shares and common stock; securities may be issued as convertibles; includes $6.25 billion previously registered but unsold; San Antonio, Tex. telecommunications company will use proceeds to repay debt, diversify its activities, provide funds for its subsidiaries and for general corporate purposes.

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