Convertibles Calendar: Hovnanian to price $90 million

SEPTEMBER 19

HOVNANIAN ENTERPRISES INC. (NYSE: HOV): $90 million of five-year exchangeable note units; being priced by subsidiary K. Hovnanian Enterprises Inc.; $1,000 par; talked to yield 5.5%-6%, up 35%-40%; concurrently with $550 million of senior secured first-lien notes due 2020 and $247 million of senior secured second-lien notes due 2020 in a private placement; exchangeable notes are contingent on the secured notes offering; non-callable; no puts; $10 million greenshoe; registered notes; via bookrunners Credit Suisse Securities, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC; proceeds to fund a tender offer and consent solicitation for 10.625% senior secured notes due 2016; Red Bank, N.J.-based homebuilder.

SEPTEMBER 20

XPO LOGISTICS INC. (NYSE: XPO): $100 million of five-year convertible senior notes; after the market close Thursday; to yield 4%-4.5%, up 20%-25%; registered, off-the-shelf; $15 million greenshoe; via Morgan Stanley & Co. LLC, Deutsche Bank Securities and Jefferies & Company Inc. as joint book-running managers; proceeds for general corporate purposes, which may include potential acquisitions; non-callable for three years until Oct. 1, 2015, and then provisionally callable subject to shares being at least 130% of conversion; net share settlement; Greenwich, Conn.-based transportation services company.

TICC CAPITAL CORP. (Nasdaq: TICC): $100 million of five-year convertible senior notes; after the market close Wednesday; to yield 7%-7.5%, up 10%-15%; Rule 144A offering; pricing after the market close Thursday; $15 million greenshoe; via Barclays as bookrunner; non-callable with no puts; dividend and change-of-control protection; proceeds for general corporate purposes, which may include investments in corporate debt and equity securities and investments in structured finance vehicles; Greenwich, Conn.-based business development company, focused on small and mid-size companies.

ON THE HORIZON

PROVECTUS PHARMACEUTICALS INC. (OTC: PVCTP): series A 8% convertible preferreds; $4 per share; concurrent series D warrants; via underwriter Maxim Group LLC; proceeds will be used for general corporate purposes; convertible preferred stock will be convertible into common stock; further details were not yet available; Knoxville, Tenn.-based dermatology and oncology pharmaceutical company.

International Convertibles Calendar

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, purchase overseas raw materials and for operating capital; Taipei, Taiwan-based cement producer.

TPK HOLDING CO. LTD. (Taiwan: 3673): up to $250 million of overseas convertible bonds; par of $250,000; tentatively set 0% coupon and five-year maturity; to be sold by international underwriters outside Taiwan in a public offering; underwriters to be announced; proceeds to be used to purchase materials overseas; Taipei, Taiwan-based maker of capacitative touch technology products used in smartphones and tablets.

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