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, 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.

BEARINGPOINT INC. (Symbol: BE): Rule 144A; two-tranches; $350 million of 20-year convertible notes; tranche non-callable for seven years talked to yield 2.25% to 2.75%, 30% to 35% initial conversion premium; tranche non-callable for 10 years was talked to yield 2.375% to 2.875%, 30% to 35% initial conversion premium; full dividend and takeover protection; $52.5 million greenshoe; McLean, Va.-based consulting firm for computer and data services top use proceed and new $400 million senior revolving credit facility to repay $220 million of senior notes and $135 million existing revolver; via joint bookrunners Banc of America Securities LLC and JPMorgan Securities; pricing Thursday.

DOVER CORP. (Symbol: DOV): Rule 144A; $65 million of 20-year convertible subordinated notes; price talk of 2.5% to 3.0% coupon, 25% to 30% initial conversion premium; non-callable for three years, then with a 140% hurdle in years four through seven; full dividend and takeover protection; $15 million greenshoe; Hackensack, N.J.-based industrial manufacturing conglomerate to use proceeds for general corporate purposes, including working capital, research and development, capital expenditures and potential acquisitions; via sole bookrunner Citigroup Global Markets Inc.; pricing Thursday.

GATEWAY INC. (Symbol: GTW): Rule 144A: two-tranches; $250 million of non-callable convertible notes in five-year and seven-year tranches; both talked at 1.25% to 1.75%, up 42.5% to 47.5%; full dividend and takeover protection; $25 million greenshoe; Irvine, Calif., personal computer maker to use proceeds, with cash and credit facility borrowings, to repurchase series A and series C preferred stock and 2.7 million shares of common stock from AOL for $315.6 million; via joint bookrunners Goldman Sachs and Morgan Stanley; pricing Thursday.

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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