Why does this same 7 year private placement bond offering keep
showing up?
2/23/98 Select Fed. Filings Newswires 08:17:00
Federal Filings Newswires
Copyright (c) 1998, Dow Jones & Company, Inc.
Monday, February 23, 1998
FFBN Cnvts: Converts Horizon
--
Pending Offerings
ISSUER: FEDERAL FILINGS BUSINESS NEWS
SYMBOL: X.FFI
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CALENDAR OF PROPOSED CONVERTIBLE SECURITIES OFFERINGS
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Compiled by the Federal Filings Convertibles Group
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The following is a forward-looking calendar of proposed
convertible securities offerings:
Company Issue Size Rating Manager Maturity
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Whole Foods Bond $100M 20 yr.
Market Inc. (WFMI)
Comment: Zero coupon offering with a five year hard call protection.
For repayment of a line of credit and capital expenditures. Private
placement.
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May & Speh Inc. Bond $100M Donaldson, 5 yr.
(SPEH) Lufkin &
Jenrette
Comment: To repay term loan and for capital expenditures. Speh family
also registered 1.5 million common shares at same time. Merrill Lynch,
Abn Amro and Painewebber also involved in underwriting. Company is a
provider of technology based information management systems.
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HNC Software Inc. Bond $75M Deutche 5 yr.
(HNCS) Morgan
Grenfell
Comment: Believed will be brought to market on Thursday. Registered
offering. Company develops and delivers predictive software solutions
in client/server environments.
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Amkor Technology Bond $150M Salomon 5 yr.
Inc.
Comment: Co. amended its IPO to include $150 million convertible note
offer, with add'l $22.5 million of notes for over-allotments. Will use
proceeds for short-term and long-term debt. BancAmerica Robertson
Stephens, Cowen & Co also underwriting issue. Registered.
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KCS Energy Inc. Bond $125M B- (S&P) Smith Barney 7 yr.
(KCS) Inc.
Comment: Proceeds to be used to reduce credit facility debt. Notes
redeemable beginning some time in the year 2000. Offering also
underwritten by Prudential Securities Inc., CIBC Oppenheimer, Morgan
Keegan & Co. and Salomon Bros. Inc. Registered.
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Pacific Gulf Pfd
Properties Inc. (PAG)
Comment: Co. expects to offer Class A and Class B convertible preferred
shares. Proceeds to be used for purchases of properties.
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Kennametal Inc. Feline $225M Ba1 (M) Merrill
(KMT) PRIDES Lynch & Co.
Comment: Co. postponed offering on Jan. 23 due to market conditions.
Proceeds to be used to repay bank debt. PRIDES consist of trust
preferred securities and stock purchase contracts due some time in 2001.
Goldman Sachs & Co. also underwriting issue. Registered.
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Skyline Pfd
Multimedia Ent.
Inc. (SKYL)
Comment: Co. to offer 650,000 units, each consisting of one cvt.
preferred share and warrants to buy additional preferred shares.
Proceeds to be used for equity capital and to satisfy financial
obligations. Expected in late first quarter 1998.
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Steven Madden
Ltd. (SHOO)
Comment: Co. said it retained Hambrecht & Quist LLC as advisor for
possible convertible private placement.
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Heico Inc. Bond $75M B- (S&P) Forum Capital 7 yr.
(HEI) B3 (M) Mkts. L.P.
Comment: Co. will use proceeds for general corporate purposes and
working capital. Raymond James & Assoc. Inc., Southeast Research
Partners Inc. also underwriting issue. Three-year hard call protection.
Registered.
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Ascend Comm. Bond 7 yr.
Inc. (ASND)
Comment: Private placement.
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Owens Corning Feline $300M Merrill Lynch
(OWC) PRIDES & Co.
Comment: Feline PRIDES of Owens Corning Capital II used to purchase an
undisclosed amount of junior subordinated debentures of Owens Corning.
Each stock purchase unit of Owens Corning consists of stock purchase
contracts to buy Owens Corning common stock and U.S. Treasury
interests. Issue has settlement date of November 16, 2000. Credit
Suisse First Boston, Goldman Sachs & Co. also underwriting issue.
Registered.
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Ingersoll Rand STRYPES Merrill Lynch
Co. (IR) & Co.
Comment: Co. filed $1.05 billion debt and equity shelf on October 2.
Proceeds to be used for general corporate purposes. Registered.
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Market price talk with respect to impending securities offerings is
compiled from various market sources, some of whom may make a market in
or have financial interest in the issues presented. The information
contained herein does not represent a solicitation to sell or buy the
underlying issues. FFI shall not be held liable for any reason for any
errors or omissions, delays or inaccuracies or any decision made in
reliance upon price and yield indications. FFI shall not be liable to
any person for any loss of business revenues or lost profits for any
indirect, special, consequential or exemplary damages whatsoever,
whether in contract, tort or otherwise, arising in connection with the
indications, even if FFI has been advised of the possibility of such
damages. FFI makes no merchantability or fitness for a particular
purpose with respect to the indications and specifically disclaims any
such warranty.
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(END) FEDERAL FILINGS-DOW JONES NEWS 02-23-98
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