High Yield Calendar: $700 million and €550 million equivalent deals being marketed

June 29 Week

FORTERRA FINANCE, LLC and FRTA FINANCE CORP.: $400 million five-year senior secured notes (expected ratings B3/B-); BofA, Goldman Sachs, SunTrust, Credit Suisse, Deutsche Bank, RBC (joint); Rule 144A and Regulation S for life; callable after two years at par plus 50% of coupon; to pay down term loan; manufacturer of ductile iron pipe and concrete pipe and precast products; investor call 11 a.m. ET on Tuesday; pricing Wednesday.

NEW ENTERPRISE STONE & LIME CO., INC.: $200 million senior notes due 2028; Goldman Sachs (sole), PNC (co); Rule 144A and Regulation S for life; callable after three years at par plus 50% of coupon; proceeds, together with cash on hand and borrowings from revolver, to fund tender offer and consent solicitation; New Enterprise, Pa.-based supplier of construction products and services; telephone roadshow Tuesday-Wednesday; investor call noon ET on Tuesday; pricing Wednesday.

TITAN GLOBAL FINANCE PLC a subsidiary of TITAN CEMENT INTERNATIONAL SA: €250 million seven-year senior notes (S&P: BB); HSBC (global coordinator, bill and deliver, SG CIB, Citigroup (global coordinators), ABN Amro, BNP Paribas, Raiffeisen Bank International (joint books), Alpha Bank, Eurobank, National Bank of Greece, Piraeus Bank (co's); Regulation S; for general corporate purposes including the tender for any or all of its 3½% senior notes due 2021; Athens-based building supplies company; roadshow June 29-July 1; investor call June 30.

REBECCA BIDCO GMBH (RENK AG): €300 million five-year senior secured notes (B1/B); Goldman Sachs (global coordinator, bill and deliver), Commerzbank, Credit Suisse, Deutsche Bank, UniCredit (global coordinators); Rule 144A and Regulation S; callable after three years at par plus 50% of coupon; proceeds, together with the equity contribution, to fund Triton's acquisition of RENK from Volkswagen Vermogensverwaltungs-GmbH; Augsburg, Germany-based supplier of drivetrain technologies; investor calls June 29-July 2.

On The Horizon

CINCINNATI BELL INC.: $493 million senior bridge loans, commitment from Goldman Sachs; also $1.6 billion credit facilities via Goldman Sachs, Regions, SG; to help fund acquisition of Cincinnati Bell by Macquarie Infrastructure Partners in transaction valued at $2.9 billion, expected to close first half of 2021; Cincinnati-based provider of integrated communications solutions; details from March 19 PRER14A filed with SEC.

ELANCO ANIMAL HEALTH INC.: $2.75 billion bridge loans and $3.75 billion credit facilities, debt commitment from Goldman Sachs; to help fund its acquisition of Bayer AG’s animal health business, targeted to close in mid-2020; Greenfield, Ind.-based animal health company; disclosed in 8-K document filed Aug. 20 with SEC.

ELDORADO RESORTS INC.: $1.8 billion senior notes due 2028 backed by bridge loan, via JPMorgan, Credit Suisse, Macquarie, priced at Libor plus 475 bps with a 0% Libor floor, spread increases by 50 bps every three months until a specified cap is reached; also $4 billion credit facilities, debt commitment from JPMorgan, Credit Suisse, Macquarie; to help fund its acquisition of Caesars Entertainment Corp.; Eldorado is a Reno, Nev.-based gaming company, expected to close in first half of 2020; Caesars is a Las Vegas-based gaming and entertainment company.

MARTIN MIDSTREAM PARTNERS LP: $400 million senior secured notes due 2025; Rule 144A and Regulation S; to refinance 7¼% senior notes due 2021 and for general partnership purposes; Kilgore, Tex.-based master limited partnership focused on marine transportation, terminalling, distribution and logistical services for producers and suppliers of hydrocarbon products, specialty chemicals and other liquids, primarily operating in the Gulf Coast region of the United States; announced in March press release.

Roadshows

June 29-July 1: TITAN CEMENT €250 million; HSBC

June 29-July 2: RENK €300 million; Goldman Sachs

June 30-July 1: FORTERRA $400 million; BofA, Goldman Sachs, SunTrust, Credit Suisse, Deutsche Bank, RBC

June 30-July 1: NEW ENTERPRISE STONE & LIME $200 million; Goldman Sachs

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