Convertibles Calendar

FTI CONSULTING INC. (Symbol: FCN): $125 million convertible offering, with $25 million greenshoe, on July 28; price talk is for an initial conversion premium of 27.50% to 32.50; no price talk on the coupon yet available; joint bookrunners Bank of America and Goldman, Sachs & Co.; proceeds from the offering to repay existing term loan debt, repurchase outstanding common shares and for general corporate purposes, including acquisitions; in addition to the offering of convertibles, FTI Consulting will price a concurrent offering of $175 million of senior notes due 2012; FTI is an Annapolis, Md., provider of turnaround, restructuring, bankruptcy and related consulting services.

L-3 COMMUNICATIONS HOLDINGS INC. (Symbol: LLL): $500 million 30-year convertible notes; $100 million greenshoe; non-callable for five years; to price after the close Wednesday; joint bookrunners are Lehman Brothers, Bear, Stearns and Credit Suisse First Boston; joint lead manager Banc of America Securities LLC; co-managers Citigroup, Jefferies & Co., SG Cowen, SunTrust Robinson Humphrey, Wachovia; Rule 144A; New York-based provider of intelligence, surveillance and reconnaissance systems for the U.S. government and Department of Defense among other customers will use proceeds to help fund its $2 billion acquisition of The Titan Corp. along with proceeds from $1 billion of 10-year straight junk bonds.

MANOR CARE INC. (Symbol: HCR): $400 million of 30-year convertible senior notes; non-callable for five years, with puts in years five, 10, 15, 20 and 25; talked at a coupon of 1.875% to 2.375% and an initial conversion premium of 20% to 25%; JPMorgan bookrunner; Rule 144A; to price after Tuesday's close; Toledo, Ohio-based operator of long-term care centers and other medical facilities will use proceeds to fund a call spread overlay with underwriters, to fund $110 million in stock repurchases and to redeem its $100 million of 7.5% notes due 2006.

CONSECO INC. (Symbol: CNO): $300 million convertible debentures; $30 million greenshoe; part of refinancing bank debt; also obtaining new $475 million term loan via Banc of America Securities LLC and JPMorgan; Carmel, Ind., insurance company.

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