Equity Company Exchange / Symbol Headquarters Amount Comments Statoil ASA NA Oslo, Norway US$3.8 billion The Norwegian government has set June 18 as the target date for listing Statoil on the Oslo and New York stock exchanges after it offers up to 20% of the concern's shares to private investors in an IPO. A final price will be set at the end of the period and could value Statoil at up to about $19 billion. The state will keep at least two-thirds control. The agent is UBS Warburg. Tyumen Oil Co. NA Russia Up to US$250 million Has mandated Deutsche Bank AG to arrange financing for environmental initiatives. The financing will be used for projects to upgrade the technology of Tyumen's Samotlor oil field in western Siberia and other upstream assets to enhance the production and transport of crude oil and bring them in line with western environmental and safety standards. One of the chief uses of the funding will be the upgrading of deteriorating pipelines from which oil leakage has occurred. Pengrowth Energy Trust (Toronto: PGF) Calgary C$175 million Plans to publicly offering trust units with a syndicate of underwriters led by RBC Dominion Securities Inc. and including BMO Nesbitt Burns Inc., Merrill Lynch Canada Inc., CIBC World Markets Inc., Scotia Capital Inc., National Bank Financial Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Canaccord Capital Corp., Raymond James Ltd., Dundee Securities Corp. and FirstEnergy Capital Corp. Pengrowth has also granted the underwriters an overallotment option to purchase up to an additional 15%. Proceeds will be used to reduce debt. Calpine Corp. (NYSE: CPN) San Jose, Calif. US$850 million Has privately placed zero coupon convertible debentures due 2021 that are convertible into Calpine common shares at $75.35, which represents a 37% conversion premium. Also, the company has granted the underwriter an overallotment option for $150 million of debt. Proceeds will be used to reduce project finance debt, for working capital and general corporate purposes. El Paso Energy Partners LP (NYSE: EPN) Houston US$600 million Has closed a revolving credit facility with its banking syndicate. The deal provides a portion of the partnership's capital requirements for midstream acquisition and project development growth in the near future. The facility increases the credit availability at a lower interest rate and allows for greater operating flexibility. JP Morgan was lead agent. El Paso Corp. (NYSE: EPG) Houston US$500 million Has sold 10-year notes with a coupon rate of 7%. The sole lead manager was Salomon Smith Barney. KeySpan Corp. (NYSE: KSE) Brooklyn, N.Y. US$500 million Has sold five-year notes at a 6.15% coupon rate. The sole lead-manager was JP Morgan. Cooper Cameron Corp. (NYSE: CAM) Houston US$450 million Plans to sell two separate series of convertible debt. Closing was scheduled for May 16. The first is a 20-year zero-coupon convertible debt with a principal amount at maturity of approximately $321 million. The price will be $779.41 per note, which represents a yield to maturity of approximately 1.25%. The second is a $200-million, 20-year convertible debt with a 1.75% interest rate. The price will be $1,000 per note. Both series are convertible into Cooper Cameron common stock, the zero-coupon issue at 8.1961 shares per note, and the 1.75% issue at 10.5158 shares per note. Proceeds will be used to pay short-term debt. Transocean Sedco Forex Inc. (NYSE: RIG) Houston US$400 million Has publicly offered 20-year convertible debt, which was priced with an interest rate of 1.5% and a 42% conversion premium to the May 8 closing price of $50.80. The offering, which will be underwritten by Credit Suisse First Boston, is expected to close May 11. Transocean Sedco Forex will have the right to redeem the debt after five years and holders will have the right to require Transocean Sedco Forex to repurchase the debt after five, 10 and 15 years. The redemption price will be equal to 100% of the principal amount plus accrued interest to the date of redemption. The debt is convertible into Transocean Sedco Forex ordinary shares at 13.8627 shares per debt. Proceeds will fund a portion of the redemption by its subsidiary, Cliffs Drilling Co., of its 10.25% senior notes due 2003, to pay all or a portion of its outstanding commercial paper debt Callon Petroleum Co. (NYSE: CPE) Natchez, Miss. US$225 million Has terminated its offer to sell senior notes due 2008 and a public offering of common stock. They were each conditional upon the closing of the other and the debt deal was rejected by the company. Remington Oil and Gas Corp. (Nasdaq: ROIL) Dallas $150 million Has secured a credit facility with a $50-million borrowing base, which will be reviewed every six months. The agreement matures in three years. The credit facility will replace the prior $50-million credit facility with a borrowing base of $35 million. The new credit facility is led by Bank of America as manager, with Fortis Capital Corp., Washington Mutual and Comerica Bank-Texas also participating.

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