Convertibles Calendar: Carriage Services, ModusLink on tap

March 13

CARRIAGE SERVICES INC. (NYSE: CSV): $120 million of seven-year convertible bonds; pricing after the market close Thursday; talked 2.75%-3.25% coupon, up 27.5% to 32.5%, Rule 144A; $18 million greenshoe; bookrunner BofA Merrill Lynch, co-lead manager Raymond James Financial Inc., co-managers Barrington Research and Regions Securities LLC; non-callable for life; no puts; net share settlement and contingent conversion at 130%; dividend protection via conversion ratio adjustment; change-of-control make-whole; proceeds to redeem or repurchase convertibles, trust preferred securities, or shares and to repay credit facility; Houston-based funeral homes and cemetery operator.

MODUSLINK GLOBAL SOLUTIONS INC. (Nasdaq: MLNK): $75 million of five-year convertible senior notes; pricing before the market open Thursday; talked 5%-5.25%, up 23%-25%; Rule 144A; $11.25 million greenshoe; bookrunner BofA Merrill Lynch; mandatory conversion potential after March 6, 2017; no puts; takeover and dividend protection; proceeds for general corporate purposes, including potential acquisitions; Waltham, Mass.-based supply chain and business process management services provider.

International Convertibles Calendar

ON THE HORIZON

UTTAM STRIPS LTD.: $200 million of 10-year convertible bonds; to yield 6%-8%; private placement via U.S.-based private equity fund Exhilway Global as sole agent for placing the bond; proceeds to repay Indian bank liabilities and for possible acquisitions; New Delhi-based metal home products manufacturer.

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