Convertibles Calendar

MARCH 7 WEEK

NASH FINCH CO. (Symbol: NAFC): Rule 144A; $150 million proceeds of 30-year discount cash-to-zero convertible senior subordinated notes; $15 million proceeds greenshoe; price talk of yield at 2.75% to 3.25%, initial conversion premium of 32.5% to 37.5%; pays cash coupon for eight years; non-callable for eight years; puts in years eight, 10, 15, 20 and 25; 130% contingent conversion trigger; 130% contingent payment trigger; full dividend and takeover protection; expected to be rated B3/B-; Minneapolis-based Nash Finch said proceeds would be used for its asset acquisition from Roundy's Inc., or alternatively to repay part of a term loan under its senior credit facility; bookrunner is Merrill Lynch & Co.; slated to price after the market close Wednesday.

ON THE HORIZON

CHIQUITA BRANDS INTERNATIONAL INC. (Symbol: CQB): undetermined amount of perpetual convertible preferreds and straight bonds, totaling together at least $350 million; also plans new bank credit facility, estimated at least at $600 million, which was expected to launch in mid-March; proceeds plus at least $75 million of cash on hand are earmarked to fund the Cincinnati-based produce distributor's $855 million cash acquisition of the Fresh Express unit of Performance Food Group Co.; Wachovia Securities is administrative agent on the bank financing.

CITIGROUP GLOBAL MARKETS INC. (Symbol: GNW): exchangeable into Genworth Financial Inc., simultaneous with General Electric Co. secondary offering and sale of up to 82 million Genworth class A shares to Citigroup; Genworth also plans to buy $400 million to $500 million of class B shares from GE; following the transactions, GE's stake in Genworth will be reduced to 51%; timing uncertain.

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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