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Convertibles Calendar: AMAG Pharma to price $150 million convertibles
FEBRUARY 11
AMAG PHARMACEUTICALS INC. (Nasdaq: AMAG): $150 million of five-year convertibles; pricing after the market close Tuesday; talked 2.25%-2.75%, up 30%-35%; non-callable; registered, off the shelf; $22.5 million greenshoe; bookrunners J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC; non-callable; net share settlement and contingent conversion if shares exceed 130%; takeover protection; call spread; proceeds for working capital and other general corporate purposes, and to pay the net cost of the call spread; Lexington, Mass.-based specialty pharmaceutical company.
FEBRUARY 20
AMERICAN ENERGY PARTNERS LP: $500 million of seven-year convertible subordinated notes; after the market close on Feb. 20; talked to yield 3%-4%; Rule 144A; bookrunners include Jefferies LLC and Citigroup Global Markets Inc.; via affiliate American Energy - Utica LLC; proceeds to partially fund a portion of its additional leasehold acquisitions, to fund a portion of its capital expenditure plans associated with its drilling and development program, and to fund drilling-carry capital expenditures agreed under certain purchase agreements and to fund a portion of its anticipated seismic data acquisitions; Oklahoma City-based onshore U.S. unconventional resource plays.
On The Horizon
PEREGRINE PHARMACEUTICALS INC. (Nasdaq: PPHM): 10.5% series E convertible preferred stock; registered; 15% greenshoe; bookrunning manager MLV & Co. LLC; co-managers Maxim Group LLC and National Securities Corp.; proceeds for general corporate purposes; Nasdaq stock market listing planned; Tustin, Calif.-based biopharmaceutical company focused on cancer and hepatitis C treatments.
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