Convertibles Calendar

WEEK OF DEC. 13

ABGENIX INC. (Symbol: ABGX): Rule 144A; $150 million seven-year convertible senior unsecured notes; non-callable for five years; price talk of 1.75% to 2.25% coupon and 25% to 30% initial conversion premium; full dividend and takeover protection; $25 million greenshoe; via sole bookrunner Goldman Sachs & Co.; Fremont, Calif.-based Abgenix - a biotech firm focused on treatments for cancer, inflammation, metabolic, autoimmune, cardiovascular and infectious diseases - intends to use some proceeds from time to time to retire a portion of its outstanding 3.5% convertible notes due 2007. Otherwise, the company plans to use proceeds for research and development, capital expenditures, working capital and other corporate purposes; slated to price after the market close Wednesday.

NRG ENERGY CORP. (Symbol: NRG): Section 4(2); $400 million convertible perpetual preferreds; non-callable for five years; price talk revised to 4.0% to 4.25% dividend (from 4.0% to 4.5%) and 23.5% to 25% initial conversion premium (from 22% to 25%); equal placement agents Deutsche Bank Securities and Citigroup Global Markets Inc.; private placement with registration rights; Minneapolis power generation firm will use proceeds to redeem a portion of its 8% senior secured second-lien notes due 2013 and to enable NRG to use existing cash balances to repurchase 13 million shares held by investment partnerships managed by MatlinPatterson Global Advisors LLC; conference call at 11 a.m. ET on Tuesday, set to price after the close Tuesday.

ON THE HORIZON

INTERNATIONAL SHIPHOLDING CORP. (Symbol: ISH): $40 million of convertible exchangeable perpetual preferred stock, $4 million greenshoe; via bookrunner Ferris, Baker Watts Inc.; New Orleans marine freight company, will use proceeds to buy two used ships and to add a second cargo deck to two vessels operating in its rail-ferry service.

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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