Convertibles Calendar

ON THE HORIZON

HUNTSMAN CORP.: amount undetermined; three-year mandatory convertible, concurrently with planned initial public offering of common stock; issue to have provisional call with 140% threshold; $40 million in proceeds will be used to buy Treasuries as collateral for dividends on the convert; Salt Lake City chemical company has estimated gross sales of the preferred and common stock at $1.3 billion; convertible bookrunners will be Citigroup Global Markets Inc., Credit Suisse First Boston, Merrill Lynch and Deutsche Bank Securities.

PNM RESOURCES INC. (Symbol: PNM): $200 million of equity-linked securities as part of financing package for $1.024 billion acquisition of TNP Enterprises Inc.; timing to coincide with acquisition closing 9 to 12 months from announcement on July 25; letter of intent obtained for the purchase of $100 million of the equity-linked securities from an existing shareholder; Albuquerque, N.M., electric utility also plans to issue $250 million of common equity, of which $95 million will go to TNP Enterprises shareholders, and place $100 million of long-term senior notes; expected ratings BBB/Baa2.

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