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Convertibles Calendar
OCT. 27 WEEK:
THE PMI GROUP INC. (Symbol: PMI): $250 million of 3-year convertible units, noncallable, with $37.5 million greenshoe; price talk of 6.0-6.5% dividend, 20-24% initial conversion premium; sole bookrunner Banc of America Securities; co-managers are Citigroup, JPMorgan and Lehman Brothers; set to price after the close Tuesday; company also selling 4.2 million common shares; proceeds to fund a portion of its part of the purchase of Financial Guaranty Insurance Co. from General Electric Co.
VALERO ENERGY INC. (Symbol: VLO); selling security holder is Orion Refining Corp.; $211.5 million principal amount of 2% mandatory convertibles, par $25, due July 1, 2006; issue price in a range between $21 and $22; conversion price is $37.37/$50.45; conversion ratio is 0.4955/0.6690; originally issued by Valero to Orion in its July 2003 acquisition of refining assets; no dividend protection; rated Ba2; to price after market close Tuesday; via joint lead managers Citigroup and Lehman Brothers.
http://www.sec.gov/Archives/edgar/data/1035002/000095012903005156/h09781b3e424b3.txt
RECENT SHELF FILINGS WITH THE SEC:
G&K SERVICES, INC. (Symbol: GKSRA): $200 million shelf filed Oct. 22 for debt securities, class A common stock and securities warrants; debt may be issued as convertibles; Minnetonka, Minn. provider of corporate uniforms and related products will use proceeds for working capital, the repayment of indebtedness, to expenditures in connection with acquisitions and for general corporate purposes.
http://www.sec.gov/Archives/edgar/data/39648/000095013403013799/c80203sv3.htm
MAGNA ENTERTAINMENT CORP. (Symbol: MECA, MEC.A): $300 million shelf filed Oct. 23 for debt securities, class A subordinate voting stock and securities warrants; debt may be issued as convertibles; Aurora, Ont. owner and operator of horse racetracks will use proceeds for general corporate purposes.
http://www.sec.gov/Archives/edgar/data/1093273/000090514803003665/efc3-0775_5324724fms3.txt
PEABODY ENERGY CORP. (Symbol: BTU): $1.25 billion shelf filed Oct. 22 for debt securities, common stock, preferred stock, preferred stock purchase rights, warrants and units; securities may be issued as convertibles; St. Louis coal company will use proceeds for general corporate purposes.
http://www.sec.gov/Archives/edgar/data/1242381/000095012303011611/y90838sv3.htm
WASHINGTON MUTUAL, INC. (Symbol: WM): $5 billion shelf filed Oct. 23 for debt securities, common stock, preferred stock and depositary shares; securities may be issued as convertibles; Seattle financial services company will use proceeds for general corporate purposes.
http://www.sec.gov/Archives/edgar/data/933136/000104746903034140/a2120558zs-3.htm
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