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Convertibles Calendar: Medivation to price $150 million
MARCH 13
MEDIVATION INC. (Nasdaq: MDVN): $150 million five-year convertible notes; after the market close Tuesday; talked to yield 2.625%-3.125%, up 37.5%-42.5%; registered; $26.25 million greenshoe; via bookrunner Citigroup Global Markets Inc.; non-callable for three years, then provisionally callable at 130%; change-of-control protection; proceeds for working capital, including further development and potential commercialization of products, and for general corporate purposes, including investments; San Francisco-based biopharmaceutical company.
MARCH 14
WINTRUST FINANCIAL CORP. (Nasdaq: WTFC): $110 million perpetual convertible preferreds; pricing Wednesday pre-open; talked 4.5%-5% dividend, up 17.5%-22.5%; registered; $16.5 million greenshoe; via bookrunners RBC Capital Markets and Bank of America Merrill Lynch; co-managers Sandler O'Neill + Partners LP and Wells Fargo Securities; non-callable until April 15, 2017, then callable if stock exceeds 130% of conversion; proceeds for general corporate purposes, including capital support for growth, acquisitions and refinancing debt; Lake Forest, Ill.-based financial holding company.
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