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Published on 3/4/2010 in the Prospect News High Yield Daily.

High Yield Calendar: $1.29 billion deals being marketed

MARCH 1 WEEK

ZAYO GROUP LLC and ZAYO CAPITAL, INC.: $225 million first-lien senior secured notes due 2017 (B2); Morgan Stanley & Co. Inc., RBC Capital Markets Corp. (joint), Barclays Capital Inc., Oppenheimer & Co., SunTrust Robinson Humphrey Inc. (co's); non-callable for three years; to pay down bank debt and interest rate swaps and for general corporate purposes; Louisville, Colo.-based provider of telecom and internet infrastructure services; price talk 10½% to 10¾% with approximately 1 point OID; books close 11 a.m. ET on Friday.

LEARNING CARE GROUP (US) NO. 2 INC.: $265 million senior secured notes due 2015 (confirmed B2/expected CCC+); Barclays Capital Inc., Wells Fargo Securities, Morgan Stanley & Co. Inc. (joint); Rule 144A for life; non-callable for 2.5 years, with make-whole provision; to refinance term loan and mezzanine loan and for general corporate purposes; Novi, Mich.-based education services company; roadshow Feb. 23-March 2; pricing middle of March 2 week.

GARDA WORLD SECURITY CORP.: $250 million and C$75 million senior notes due 2017 (B); UBS Investment Bank (left books), Macquarie Capital (joint books), TD Securities (co); Rule 144A/Regulation S for life; non-callable for four years; to refinance debt and for general corporation purposes; Montreal-based security services provider; roadshow March 1-5.

MARCH 8 WEEK

AVIS BUDGET CAR RENTAL, LLC and AVIS BUDGET FINANCE, INC.: $400 million senior notes due 2018; Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., Wells Fargo Securities (joint), Credit Agricole, RBS Securities Inc., Scotia Capital (co's); Rule 144A with registration rights; non-callable for four years; to repay floating-rate term loan debt and for general corporate purposes; Parsippany, N.J.-based provider of vehicle rental services; investor call March 4; roadshow March 4 in New York, March 5 in Boston, March 6 in Los Angeles; pricing following conclusion of roadshow.

HOLLY ENERGY PARTNERS, LP and HOLLY ENERGY FINANCE CORP.: $150 million senior unsecured notes due 2018; UBS Investment Bank (left books), Bank of America Merrill Lynch, Goldman Sachs & Co. (joint books), BBVA, Capital One, Comerica, Mitsubishi UFJ, PNC, US Bancorp (co's); Rule 144A/Regulation S with registration rights; non-callable for four years; to refinance outstanding senior secured revolver and fund acquisition of petroleum storage tanks; Dallas-based provider of petroleum products and crude oil transportation, tankage and terminal services to the petroleum industry.

ON THE HORIZON

ANWORTH MORTGAGE ASSET CORP.: $600 million; Santa Monica, Calif.-based real estate investment trust focusing on mortgage-backed securities and residential mortgage loans

BIOSCRIP INC.: $225 million senior notes, via Jefferies; also $225 million credit facility (/B-/); to help fund acquisition of Critical Homecare Solutions for $343.2 million in cash and stock, expected to close March 31, 2010; BioScrip is an Elmsford, N.Y.-based specialty pharmaceutical health care organization; all in interest on the credit facility and the notes expected to be in the 9% area.

CDW CORP.: $1.94 billion notes: $890 million senior unsecured cash-pay notes due 2015 (Caa1/CCC+), $300 million senior unsecured PIK toggle notes due 2015 (Caa1/CCC+) and $750 million senior subordinated notes due 2017 (Caa2/CCC+); J.P. Morgan Securities Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co.; to refinance bridge loan related to LBO; Vernon Hills, Ill., provider of technology products and services.

CEDAR FAIR LP: $1.95 billion financing commitment via JPMorgan, Bank of America, Barclays Capital, UBS and KeyBanc Capital Markets, including $700 million high-yield bonds and $1.25 billion credit facility; to help fund $2.4 billion buyout by Apollo Global Management, expected to close during the second quarter of 2010; Sandusky, Ohio-based amusement-resort operator.

CEVA GROUP PLC: New preferred priority junior secured notes with five-year (minimum) maturity; to extend debt maturities; concurrent with tender offer and consent solicitation for €120 million and $127 million 12% second-priority senior secured notes due 2014 and $400 million 10% second-priority senior secured notes due 2014, via dealer manager Credit Suisse, early consent date March 9, 2009; logistics and supply chain management company based in Hoofddorp, the Netherlands.

CKE RESTAURANTS INC.: $150 million of senior unsecured notes; also $450 million credit facility and up to $440 million in equity; to finance acquisition by Thomas H. Lee Partners, expected second quarter of 2010, Bank of America and Barclays are the lead banks on the financing; Carpinteria, Calif.-based owner of Carl's Jr. and Hardee's quick-service restaurant chains.

INFORMA GLOBAL MARKETS: High-yield notes (Ba2/BB), size to be determined; JPMorgan; London-based real-time capital markets information services provider; originally scheduled as early September business, pending market conditions.

SITEL CORP.: $300 million senior unsecured notes (Caa2); to pay down bank debt; deal hinges on amendment to modify covenants of the existing credit agreement, as well as market conditions; Nashville, Tenn.-based business outsourcing services provider, previously known as ClientLogic.

ROADSHOWS

Feb. 23-March 2: LEARNING CARE GROUP (US) NO. 2 INC. $265 million; Barclays Capital Inc., Wells Fargo Securities, Morgan Stanley & Co. Inc.

Pricing March 1 week: ZAYO GROUP LLC and ZAYO CAPITAL, INC. $225 million; Morgan Stanley & Co. Inc., RBC Capital Markets Corp.

March 1-5: GARDA WORLD SECURITY CORP. $250 million and C$75 million; UBS Investment Bank

March 4-8: AVIS BUDGET CAR RENTAL, LLC and AVIS BUDGET FINANCE, INC. $400 million; Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., Wells Fargo Securities


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