Convertibles Calendar

OCT. 25 WEEK:

ISOLAGEN INC. (Symbol: ILE): Rule 144A; $75 million of 20-year convertible subordinated notes, with $15 million greenshoe; price talk for a 3.25% to 3.75% coupon, 35% to 40% initial conversion premium; non-callable for 5 years; puts in years 5, 10 and 15; full dividend protection; full cash takeover protection; via joint bookrunners UBS Investment Bank and CIBC World Markets Inc.; scheduled 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.

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