High Yield Calendar: $3.39 billion deals being marketed

October 29 week

PQ CORP.: $720 million 5.5-year second-lien senior secured notes (Caa1/B-); J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Barclays, Jefferies & Co., Mizuho, Morgan Stanley & Co. (joint); Rule 144A and Regulation S for life; non-callable for two years; to repay bank debt; provider of inorganic specialty chemicals, specialty catalysts and engineered glass products; roadshow started Oct. 22; pricing expected Oct. 30.

WILLIAM LYON HOMES, INC.: $300 million eight-year senior notes; Credit Suisse Securities (USA) LLC (sole books); Rule 144A with registration rights; callable in three years at par plus 75% of the coupon; three-year 35% equity clawback; 101% poison put; to refinance debt; Newport Beach, Calif.-based home builder; roadshow started Oct. 25; pricing during middle part of Oct. 29 week.

AUSDRILL FINANCE PTY LTD.: $300 million seven-year senior notes (Ba3/BB); Morgan Stanley & Co. (left books), Deutsche Bank Securities Inc., Standard Chartered Bank (joint books); Rule 144A and Regulation S for life; non-callable for three years; to repay term loan, with any remaining proceeds for general corporate purposes including pay down of revolver; Kewdale, Western Australia, mineral exploration company; roadshow started Oct. 23; investor call 10:30 a.m. Oct. 24; pricing following roadshow, subject to market conditions.

MATTAMY GROUP CORP.: $450 million equivalent eight-year senior notes in dollars and Canadian dollars; Credit Suisse Securities (USA) LLC, RBC Capital Markets, Citigroup Global Markets (joint); Rule 144A for life; callable in three years at par plus 75% of the coupon; three-year 35% equity clawback; 101% poison put; to refinance existing debt; Burlington, Ont.-based residential homebuilder; roadshow starts Oct. 29; pricing late Oct. 29 week.

313 GROUP, INC. to be merged with and into APX GROUP, INC. (the parent of VIVINT, INC.) $1.305 billion notes: $925 million senior secured notes due 2019, non-callable for three years (special call provision allows the issuer to redeem 10% of the notes annually during the non-call period), also $380 million senior unsecured notes due 2020, non-callable for three years; Bank of America Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, Macquarie Capital, Goldman Sachs & Co. (joint); Rule 144A with registration rights; to fund the acquisition of the company by Blackstone Group; Provo, Utah-based home securities service provider; roadshow starts Oct. 29; investor call 12:15 p.m. ET on Oct. 29.

Expected October Business

MERRILL COMMUNICATIONS LLC: $150 million 5.5-year second-lien notes with warrants for 10% of the company; Credit Suisse Securities (USA) LLC; non-callable; to refinance bank debt; St. Paul, Minn.-based provider of technology-enabled services for the financial, legal, health care, real estate and other corporate markets; Libor plus 1,450 bps, including 2% PIK, with no floor and an original issue discount of 98 (being marketed primarily to bank loan accounts).

PETAQUILLA MINERALS LTD.: $210 million senior secured notes due 2017 (Caa1); Global Hunter Securities (sole); non-callable for two years; to refinance debt and to finance capital expenditures related to the Lomero-Poyatos mine in Spain; Vancouver, B.C.-based Petaquilla Copper is a copper exploration company; price talk 12% yield with warrants.

TDF GROUP (TELEFFUSION DE FRANCE): Euro-denominated high-yield bonds; BNP Paribas expected to be involved; to refinance debt; Paris-based multiple-platform telecommunications company.

On The Horizon

CKX ENTERTAINMENT, INC.: $360 million senior secured second-lien notes due 2019 (/B-/); Goldman Sachs & Co. (left books), Macquarie Group Ltd. (joint books); Rule 144A and Regulation S; non-callable for four years; to fund the purchase of common stock and repay existing credit facility; New York City-based owner and developer of entertainment content; possible business for the first quarter of 2012.

ENERGY TRANSFER EQUITY, LP: $3.2 billion high-yield bonds to help complete the $7.9 billion merger of Energy Transfer and Southern Union Co., including repayment of $3.7 billion of Southern Union debt; Energy Transfer is a Dallas-based oil and gas pipeline company.

FTS INTERNATIONAL, INC.: $400 million secured notes to repay term loan; company is soliciting consents from holders of its 7 1/8% notes due 2018 to amendments to the indenture governing the notes, Bank of America Merrill Lynch and Citigroup Global Markets Inc. are the solicitation agents; provider of well completion services for the oil and gas industry with corporate offices in Fort Worth and Cisco, Texas; expected Autumn 2012 business.

GLOBALIVE WIRELESS MANAGEMENT CORP.: Up to $1 billion equivalent in U.S. dollar- and Canadian dollar-denominated notes; Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, BMO Capital Markets Corp.; Rule 144A; to fund expansion of its wireless network and for general corporate purposes; Toronto-based wireless communications services provider; expected during first quarter of 2012.

GREENFIELD ETHANOL INC.: C$175 million of five-year senior second-lien notes (/B+//DBRS: B); Scotia Capital Inc. (lead); Macquarie Capital Markets Canada Ltd., Societe Generale (Canada) and TD Securities Inc. (co-managers); non-callable for three years, 101% change-of-control put; equity clawback for up to 35% in first three years; Canada call at 50 bps over Canadian government benchmark; guarantors GreenField Ethanol (Johnstown) Inc.; GreenField Ethanol (Hensall) Inc.; GreenField Hensall LP; GreenField Hensall GP Inc.; Pharmco Products Inc.; Aaper Alcohol and Chemical Co., Aaper Holdings Inc.; GreenField Ethanol of Quebec Inc. and all future restricted subsidiaries of GreenField.; proceeds to repay debt, to terminate existing interest rate swap agreements and for general corporate purposes; Ontario-based GreenField Ethanol is Canada's largest ethanol company.

M&G FINANCE CORP.: $200 million to $300 million senior secured notes due 2019 (expected B3//BB), downsized from $500 million; J.P. Morgan Securities LLC (sole); Rule 144A and Regulation S for life; non-callable (call protection increased from four years); to finance construction of new PET and PTA production facilities, pay back intercompany debt and fund working capital; Houston-based Mossi & Ghisolfi (M&G) produces polyethylene terephthalate (PET) resin for packaging applications; price talk 10% coupon to yield 12% at an issue price of approximately 90.

NAL OIL & GAS: C$150 million to C$250 million notes; RBC Capital Markets, BMO Nesbitt Burns; Calgary, Alta., trust acquires interests in Canada's upstream conventional oil and gas industry.

OPI INTERNATIONAL: $160 million first-lien senior secured notes due 2017; Global Hunter Securities; non-callable for three years; to help fund the acquisition of offshore construction vessels and refinance debt; Houston-based services provider to the offshore oil and gas industry; expected May business.

PPG COMMODITY CHEMICALS: $660 million notes and $240 million term loan in connection with its spin-off from PPG Industries and merger with Georgia Gulf Corp., expected to occur in late 2012 or early 2013; Barclays and J.P. Morgan Securities LLC have provided the debt commitment; PPG Commodity Chemicals is a producer of chlorine, caustic soda and related chemicals; PPG is Pittsburgh-based coatings and specialty products company.

SILVERLEAF RESORTS, INC.: $175 million senior secured notes due 2019; Deutsche Bank Securities Inc.; non-callable for three years; to pre-fund development of vacation ownership inventory, to refinance a portion of the company's existing debt, to pay a dividend to the sponsor; Dallas-based resort operator.

SPECTRUM BRANDS HOLDINGS, INC.: $1.04 billion senior unsecured bridge loan, to be partially or totally taken out by issuing senior unsecured notes; Deutsche Bank, Barclays; also $800 million term loan; to fund the acquisition of Stanley Black & Decker, Inc., expected to close during the first quarter of 2013; Spectrum Brands is a Madison, Wis.-based consumer products company.

SPOTTED HAWK DEVELOPMENT LLC: $100 million five-year senior secured notes; Global Hunter Securities (sole books), Knight Capital (co); non-callable for three years; to fund oil production in the Bakken Field Play; New Town, N.D.-based energy exploration and production company; currently being marketed.

TEMPUR-PEDIC INTERNATIONAL INC.: $350 million senior notes and $1.77 billion credit facilities; Bank of America Merrill Lynch (lead arranger and bookrunner); to help fund its acquisition of Sealy Corp. for $2.20 per share including repayment of all of Sealy's outstanding convertible and non-convertible debt, for a total transaction value of about $1.3 billion, expected to close in the first half of 2013; Tempur-Pedic is a Lexington, Ky.-based bedding manufacturer; Sealy is a Trinity, N.C.-based bedding manufacturer.

TPC GROUP INC.: Up to $600 million senior secured notes and $250 million senior secured asset-based revolver; Bank of America Merrill Lynch, Morgan Stanley Senior Funding Inc. and Jefferies Finance LLC; to help fund its acquisition by First Reserve Corp. and SK Capital Partners; expected to close in the fourth quarter; TPC Group is a Houston-based processor and service provider of value-added products derived from niche petrochemical raw materials; expected late third quarter or early fourth quarter business.

Roadshows

Started Oct. 22: PQ CORP. $720 million; JPMorgan, Credit Suisse, Barclays, Jefferies, Mizuho, Morgan Stanley.

Started Oct. 23: AUSDRILL $300 million; Morgan Stanley, Deutsche Bank, Standard Chartered.

Started Oct. 24: WILLIAM LYON HOMES $300 million; Credit Suisse.

Starts Oct. 29: MATTAMY GROUP $450 million equivalent; Credit Suisse, RBC, Citigroup.

Starts Oct. 29: VIVINT $1.305 billion; Bank of America, Citigroup, Deutsche Bank, Morgan Stanley, Credit Suisse, Macquarie, Goldman Sachs.

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