Convertibles Calendar: Exelon pricing $1 billion deal; J2 Global, TCP Capital on tap

JUNE 11

EXELON CORP.:

• $1 billion convertible mandatory equity units

• $150 million greenshoe

• $50 par

• Pricing Wednesday after the market close

• Mandatory conversion June 1, 2017

• Via underwriters Barclays, Goldman Sachs & Co., Citigroup Global Markets Inc., Wells Fargo Securities LLC

• Concurrent offering of up to 50 million shares of common stock

• Proceeds of both offerings to partially fund $6.8 billion purchase of Pepco Holdings Inc.

• Chicago-based electricity and gas utility

• NYSE: EXC

J2 GLOBAL INC.:

• $300 million of 15-year convertible senior notes

• $45 million greenshoe

• Price talk 3%-3.5%, up 42.5%-47.5%

• Registered

• Pricing Wednesday after the market close

• Joint bookrunners BofA Merrill Lynch, Citigroup Global Markets Inc. and Wells Fargo Securities LLC

• Proceeds for general corporate purposes, which may include acquisitions or payment of notes

• Physical settlement

• Los Angeles-based internet services provider

• Nasdaq: JCOM

TCP CAPITAL CORP.:

• $100 million of five-year convertible senior notes

• $15 million greenshoe

• Price talk 4.75%-5.25%, up 12.5%-17.5%

• Rule 144A

• Pricing Wednesday after the market close

• Joint bookrunners Citigroup Global Markets Inc., BofA Merrill Lynch and Deutsche Bank Securities Inc.

• Non-callable

• Proceeds to repay amounts outstanding under its revolving credit facilities and to make investments in portfolio companies and for other general corporate purposes, including payment of operating expenses

• Santa Monica, Calif.-based specialty finance company

• Nasdaq: TCPC

JUNE 12

ARIAD PHARMACEUTICALS INC.:

• $175 million of five-year convertible senior notes

• $50 million greenshoe

• Price talk 3.25%-3.75%, up 30%-35%

• Rule 144A

• Pricing Thursday before the market open

• Bookrunner J.P. Morgan Securities LLC

• Call spread

• Proceeds to pay the cost of the call spread and for sales, manufacturing and distribution of ponatinib, global development of other product canddidates and general corporate purposes

• Cambridge, Mass.-based oncology company

• Nasdaq: ARIA

VERINT SYSTEMS INC.:

• $300 million of seven-year convertible senior notes

• $45 million greenshoe

• Price talk 1.75%-2.25%, up 30%-35%

• Registered

• Pricing Thursday after the market close

• Concurrent offering of 5 million shares of common stock

• Joint bookrunners Deutsche Bank Securities Inc., Credit Suisse Securities (USA), RBC Capital Markets LLC, Barclays, Goldman Sachs & Co. and HSBC Securities (USA) Inc.

• Call spread

• Proceeds to pay amounts outstanding under its existing credit facility and to pay the net cost of the call spread

• Melville, N.Y.-based security, surveillance and business intelligence company.

• Nasdaq: VRNT

On The Horizon

500.COM LTD.:

• Up to $120 million of convertible senior notes

• Via underwriter Deutsche Bank Securities Inc.

• F-1 regulatory filing

• Concurrent offering of ADSs

• Concurrent share lending agreement with Deutsche Bank AG

• Takeover protection

• No exchange listing

• Proceeds for R&D, business expansion, general corporate purposes, including working capital needs, incremental costs

• Shenzhen, China-based online sports lottery service provider

• NYSE: ADS: WBAI

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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