Convertibles Calendar

OCT. 11 WEEK

CELL GENESYS INC. (Symbol: CEGE): Rule 144A; $100 million of seven-year convertible senior notes, with $25 million greenshoe; price talk of 2.625% to 3.125% yield, 30% to 35% initial conversion premium; non-callable for five years, then with a 150% hurdle; full dividend protection by way of a conversion ratio adjustment; South San Francisco, Calif.-based cancer drug concern to use proceeds to repay two outstanding bank loans totaling $95 million, eliminating existing restrictions on $60 million of current cash balance; via joint bookrunners JPMorgan Securities and Lehman Brothers Inc.; set to price after the market close Thursday.

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.

RECENT SHELF FILINGS WITH THE SEC:

CITIGROUP GLOBAL MARKETS HOLDINGS INC. (Symbol: C): $10 billion shelf filed Oct. 8 for debt securities, trust preferreds and index warrants; debt securities may be convertible or exchangeable into stock; includes $945.8 million previously registered but unsold; New York financial services company will use proceeds for general corporate purposes.

JETBLUE AIRWAYS CORP. (Symbol: JBLU): $1 billion shelf filed Oct. 5 for common stock, preferred stock, debt securities and passthrough certificates; securities may be issued as convertibles; includes $319 million previously registered but unsold; Forest Hills, N.Y., low-fare airline will use proceeds for working capital and capital expenditures.

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