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		</otherManager><votingAuthority><Sole>11987000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ARES CAP CORP</nameOfIssuer><titleOfClass>NOTE 4.750% 1/1</titleOfClass><cusip>04010LAJ2</cusip><value>23034</value><shrsOrPrnAmt><sshPrnamt>22269000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
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		</otherManager><votingAuthority><Sole>6100000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>BANK AMER CORP</nameOfIssuer><titleOfClass>7.25%CNV PFD L</titleOfClass><cusip>060505682</cusip><value>8748</value><shrsOrPrnAmt><sshPrnamt>7351</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
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		</otherManager><votingAuthority><Sole>4454000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>CHESAPEAKE ENERGY CORP</nameOfIssuer><titleOfClass>NOTE 2.500% 5/1</titleOfClass><cusip>165167CA3</cusip><value>1609</value><shrsOrPrnAmt><sshPrnamt>1744000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>1744000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>CITRIX SYS INC</nameOfIssuer><titleOfClass>NOTE 0.500% 4/1</titleOfClass><cusip>177376AD2</cusip><value>17203</value><shrsOrPrnAmt><sshPrnamt>15463000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>15463000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>CSX CORP</nameOfIssuer><titleOfClass>DBCV 10/3</titleOfClass><cusip>126408GA5</cusip><value>1888</value><shrsOrPrnAmt><sshPrnamt>680000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>680000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>DANAHER CORP DEL</nameOfIssuer><titleOfClass>NOTE 1/2</titleOfClass><cusip>235851AF9</cusip><value>6666</value><shrsOrPrnAmt><sshPrnamt>2273000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>2273000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>FIDELITY NATIONAL FINANCIAL</nameOfIssuer><titleOfClass>NOTE 4.250% 8/1</titleOfClass><cusip>31620RAE5</cusip><value>16773</value><shrsOrPrnAmt><sshPrnamt>8212000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>8212000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ILLUMINA INC</nameOfIssuer><titleOfClass>NOTE 6/1</titleOfClass><cusip>452327AF6</cusip><value>30966</value><shrsOrPrnAmt><sshPrnamt>31801000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>31801000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>INTEL CORP</nameOfIssuer><titleOfClass>SDCV 12/1</titleOfClass><cusip>458140AD2</cusip><value>43858</value><shrsOrPrnAmt><sshPrnamt>33916000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>33916000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>JEFFERIES GROUP INC NEW</nameOfIssuer><titleOfClass>DBCV 3.875%11/0</titleOfClass><cusip>472319AG7</cusip><value>28212</value><shrsOrPrnAmt><sshPrnamt>27864000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>27864000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>MACQUARIE INFRASTRUCTURE COR</nameOfIssuer><titleOfClass>NOTE 2.875% 7/1</titleOfClass><cusip>55608BAA3</cusip><value>23796</value><shrsOrPrnAmt><sshPrnamt>20839000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>20839000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>NEWMONT MINING CORP</nameOfIssuer><titleOfClass>NOTE 1.625% 7/1</titleOfClass><cusip>651639AJ5</cusip><value>29937</value><shrsOrPrnAmt><sshPrnamt>26759000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>26759000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>OLD REP INTL CORP</nameOfIssuer><titleOfClass>NOTE 3.750% 3/1</titleOfClass><cusip>680223AH7</cusip><value>27060</value><shrsOrPrnAmt><sshPrnamt>21182000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>21182000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ON SEMICONDUCTOR CORP</nameOfIssuer><titleOfClass>NOTE 1.000%12/0</titleOfClass><cusip>682189AK1</cusip><value>3327</value><shrsOrPrnAmt><sshPrnamt>3722000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>3722000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>PRICELINE GRP INC</nameOfIssuer><titleOfClass>NOTE 0.350% 6/1</titleOfClass><cusip>741503AS5</cusip><value>4157</value><shrsOrPrnAmt><sshPrnamt>3545000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>3545000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>PRICELINE GRP INC</nameOfIssuer><titleOfClass>NOTE 0.900% 9/1</titleOfClass><cusip>741503AX4</cusip><value>41324</value><shrsOrPrnAmt><sshPrnamt>40814000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>40814000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>PROSPECT CAPITAL CORPORATION</nameOfIssuer><titleOfClass>NOTE 5.750% 3/1</titleOfClass><cusip>74348TAL6</cusip><value>6439</value><shrsOrPrnAmt><sshPrnamt>6313000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>6313000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>PROSPECT CAPITAL CORPORATION</nameOfIssuer><titleOfClass>NOTE 5.875% 1/1</titleOfClass><cusip>74348TAM4</cusip><value>16500</value><shrsOrPrnAmt><sshPrnamt>16719000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>16719000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>PROSPECT CAPITAL CORPORATION</nameOfIssuer><titleOfClass>NOTE 4.750% 4/1</titleOfClass><cusip>74348TAQ5</cusip><value>17719</value><shrsOrPrnAmt><sshPrnamt>18738000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>18738000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>RED HAT INC</nameOfIssuer><titleOfClass>NOTE 0.250%10/0</titleOfClass><cusip>756577AD4</cusip><value>31050</value><shrsOrPrnAmt><sshPrnamt>25608000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>25608000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>RPM INTL INC</nameOfIssuer><titleOfClass>NOTE 2.250%12/1</titleOfClass><cusip>749685AT0</cusip><value>16565</value><shrsOrPrnAmt><sshPrnamt>14280000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>14280000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SPIRIT RLTY CAP INC NEW</nameOfIssuer><titleOfClass>NOTE 2.875% 5/1</titleOfClass><cusip>84860WAA0</cusip><value>19418</value><shrsOrPrnAmt><sshPrnamt>18000000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>18000000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SPIRIT RLTY CAP INC NEW</nameOfIssuer><titleOfClass>NOTE 3.750% 5/1</titleOfClass><cusip>84860WAB8</cusip><value>11181</value><shrsOrPrnAmt><sshPrnamt>10000000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>10000000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>TEVA PHARMACEUTICAL FIN LLC</nameOfIssuer><titleOfClass>DBCV 0.250% 2/0</titleOfClass><cusip>88163VAE9</cusip><value>12360</value><shrsOrPrnAmt><sshPrnamt>9863000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>9863000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>TOLL BROS FIN CORP</nameOfIssuer><titleOfClass>NOTE 0.500% 9/1</titleOfClass><cusip>88947EAM2</cusip><value>4801</value><shrsOrPrnAmt><sshPrnamt>4905000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>4905000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>WELLPOINT INC</nameOfIssuer><titleOfClass>NOTE 2.750%10/1</titleOfClass><cusip>94973VBG1</cusip><value>32436</value><shrsOrPrnAmt><sshPrnamt>17816000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>17816000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>WELLS FARGO &amp; CO NEW</nameOfIssuer><titleOfClass>PERP PFD CNV A</titleOfClass><cusip>949746804</cusip><value>21657</value><shrsOrPrnAmt><sshPrnamt>16667</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>16667</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>XILINX INC</nameOfIssuer><titleOfClass>NOTE 2.625% 6/1</titleOfClass><cusip>983919AF8</cusip><value>23120</value><shrsOrPrnAmt><sshPrnamt>14366000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>14366000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>YAHOO INC</nameOfIssuer><titleOfClass>NOTE 12/0</titleOfClass><cusip>984332AF3</cusip><value>4704</value><shrsOrPrnAmt><sshPrnamt>4740000</sshPrnamt><sshPrnamtType>PRN</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>4740000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable></informationTable>
