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Convertibles Calendar: Colony Financial to price $150 million
APRIL 5
COLONY FINANCIAL INC. (Nasdaq: CLNY): $150 million 10-year convertible senior notes; pricing Friday before the market open; to yield 4.75%-5.25%, up 10%-15%; $22.5 million greenshoe; registered, off-the-shelf; via Goldman Sachs & Co., BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC; non-callable for seven years and then provisionally callable at 130%; no puts; takeover protection; proceeds to acquire interest-bearing short-term investments, including U.S. Treasuries, for working capital and general corporate purposes; Santa Monica, Calif.-based real estate investment trust.
APRIL 27
INTELSAT GLOBAL HOLDINGS SA: $150 million of three-year series A mandatory convertible preferred shares; $50 par; talked to yield 5.75%-6.25%, up 17.5%-22.5%; concurrent IPO of 21,739,130 common shares scheduled April 17; greenshoe for 450,000 mandatories and 3,260,869 additional common shares; registered; both offerings to be NYSE listed; Goldman Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and BofA Merrill Lynch are joint bookrunners; Barclays, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Nomura Securities International, Inc. and UBS Securities LLC are bookrunners; Evercore Group LLC, HSBC Securities (USA) Inc., RBC Capital Markets, LLC, Lion Tree Advisors LLC and Raymond James & Associates, Inc. are co-managers; Pembroke, Bermuda-based fixed satellite services provider.
ON THE HORIZON
ASIA CEMENT CORP. (Taiwan: 1102): less than $300 million of euro convertible bonds; tentatively set 0% coupon and five-year maturity; proceeds to repay loans, to purchase overseas raw materials and for operating capital; Taipei, Taiwan, cement producer.
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