Convertibles Calendar

MAY 23 WEEK

GSI COMMERCE INC. (Symbol: GSIC):'s $50 million of 20-year convertible debentures; bookrunner Morgan Stanley; Bear Stearns & Co. joint lead manager; co-managers CIBC World Markets, Friedman Billings Ramsey, Pacific Crest Securities; $7.5 million greenshoe; non-callable for five years, then with a 150% threshold in years six and seven with no make-whole provision; puts in years seven, 10 and 15; full dividend and takeover protection; also selling 1.5 million shares and selling shareholders will offer a further 1.5 million to 2.5 million shares; King of Prussia, Pa.-based provider of e-commerce solutions will use proceeds for general corporate purposes; talked to yield 2.5% to 3.0% with a 25% to 30% initial conversion premium; to price after the close Wednesday.

ON THE HORIZON

CHIQUITA BRANDS INTERNATIONAL INC. (Symbol: CQB): Rule 144A; $75 million perpetual convertible preferred; to be sold in conjunction with $150 million of senior bonds; also plans new $650 million bank credit facility; joint lead arrangers Wachovia Securities and Morgan Stanley & Co. Inc.; 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.

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