High Yield Calendar: $2.625 billion, €150 million and £200 million being marketed

May 5 Week

CONSOLIDATED MINERALS: $400 million senior secured notes due 2020 (B3/B+); Deutsche Bank Securities Inc.; non-callable for three years; to redeem existing 8 7/8% notes due 2018; supplier of manganese ore and other steel-making commodities, based in Jersey, Channel Islands; European roadshow started April 24; U.S. roadshow early April 28 week; talked to yield in the 8¼% area with an original issue discount of about 1 point.

ESSAR STEEL MINNESOTA LLC: $450 million seven-year senior secured notes; non-callable for four years; Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, Jefferies & Co. (joint books); Rule 144A and Regulation S; iron ore producer in northern Minnesota, part of India-based Essar Group; proceeds to complete construction on its facility and begin commercial operations; roadshow started April 29.

PREMIUM CREDIT FINANCE: £200 million seven-year senior notes (B2/B/B-) from Mizzen Bondco Ltd., a wholly owned subsidiary of Mizzen Mezzco Ltd. UK, the ultimate holding company for Premium Credit Finance; Rule 144A and Regulation S; Epsom, England provider of third-party insurance premium financing; proceeds to repay debt, to redeem preferred equity of the company's parent, to make a distribution to shareholders and to pay related fees and expenses; pricing "shortly."

AIR BERLIN PLC: At least €150 million equivalent of new notes; tranches of 6¾% euro-denominated fixed-rate notes and 5 5/8% Swiss franc-denominated fixed-rate notes due 2019 or due 2021; Berlin-based air carrier; part of a recapitalization that also includes an exchange offer and the issuance of €300 million of 8% subordinated convertibles by Air Berlin Finance BV to Etihad Airways PJSC and the extension of Air Berlin's partially undrawn credit facility with its largest shareholder to 2021 from 2016; coupon will be 6% to 6¾% for the euro notes and 5½% to 6¼% for the Swiss franc notes; coupons to be announced by May 2.

FORESTAR GROUP INC.: $250 million senior secured notes due 2022 (expected: B2/BB-); non-callable for four years; to be issued by Forestar (USA) Real Estate Group Inc. subsidiary; Goldman Sachs & Co., KeyBanc Capital Markets Inc., J.P. Morgan Securities LLC (joint books); Rule 144A and Regulation S; Austin, Texas-based real estate and oil and natural gas company with interests in timberlands, wood fiber and water holdings; proceeds to repay term loan and for general corporate purposes, including investments in strategic growth opportunities; roadshow April 30 to May 6; pricing after.

ORTHO-CLINICAL DIAGNOSTICS: $1.15 billion eight-year senior notes (expected: Caa1/CCC+); non-callable for three years; Goldman Sachs & Co., Barclays, Credit Suisse, UBS, Nomura (joint books), SMBC Nikko Capital Markets, Ltd., Jefferies & Co., RBS Securities Inc. (co-managers); Rule 144A and Regulation S; also $2.175 billion term loan B and $1.025 billion equity; to help fund the buyout of Ortho-Clinical Diagnostics by the Carlyle Group from Johnson & Johnson; Raritan, N.J.-based provider medical diagnostic testing services; roadshow May 2 to May 6; pricing after.

May 12 Week

KCA DEUTAG ALPHA LTD.: $375 million seven-year senior secured notes (expected B3/B/); non-callable for three years; J.P. Morgan Securities LLC, Goldman Sachs & Co., HSBC Securities (USA) Inc., Lloyds Securities Inc. (joint books); Rule 144A for life; Aberdeen, Scotland-based energy drilling contractor; part of $750 million financing package that also includes a bank loan; proceeds to refinance bank debt and to add a small amount of cash to the balance sheet; roadshow starts May 5; pricing expected on or around May 13.

On The Horizon

ACTUANT ELECTRICAL: $60 million senior subordinated notes; also $150 million credit facility led by RBC Capital Markets and NXT Capital; to help fund the buyout of the company by Sentinel Capital Partners from Actuant Corp.; Actuant Electrical is a Menomonee Falls, Wis.-based provider of products for the retail do-it-yourself, marine, industrial OEM and wholesale electrical markets.

AERCAP HOLDINGS NV: Long-term bonds, approximately 40% secured and 60% unsecured; also $1 billion revolver; UBS Investment Bank, Citigroup Global Markets; to fund its purchase of International Lease Finance Corp. from American International Group Inc., expected to close during the second quarter of 2014; AerCap is a Netherlands-based aircraft leasing company. ILFC is a Los Angeles-based commercial aircraft lessor.

ALBEA: $150 million five-year senior secured PIK toggle notes (expected ratings Caa2/CCC+); JPMorgan, BofA Merrill Lynch (joint); non-callable for one year; to fund a dividend; Gennevilliers, France-based personal care products company.

BUENA VISTA GAMING AUTHORITY: $220 million eight-year senior secured notes; Credit Suisse Securities (USA) LLC, BofA Merrill Lynch (joint); Rule 144A and Regulation S for life; callable in four years at par plus 50% of the coupon; annual mandatory redemption offer of 50% of available funds starting at 103; 101% poison put; to fund construction of the Buenavue Casino; Ione, Calif.-based tribal gaming firm.

DFC GLOBAL CORP.: $750 million senior secured notes backed by a bridge loan via Jefferies Finance LLC and Credit Suisse Securities (USA) LLC; also $125 million credit facility; to help the acquisition of DFC Global by Lone Star Funds, expected to close during the third quarter of 2014; Berwyn, Pa.-based financial services company.

FRONTIER COMMUNICATIONS CORP.: $1.9 billion senior notes backed by bridge; J.P. Morgan Securities LLC; to fund the acquisition of AT&T Inc.'s wireline business and statewide fiber network in Connecticut; Stamford, Conn.-based wireline telecommunications provider; expected during the second or third quarter of 2014.

JARDEN CORP.: $795 million bonds and bank loans, sizes to be determined; to help fund its acquisition of Yankee Candle Investments LLC from Madison Dearborn Partners LLC for $1.75 billion in cash; Jarden is a Rye, N.Y.-based provider of consumer products; Yankee Candle is a South Deerfield, Mass.-based designer, manufacturer, wholesaler and retailer of scented candles.

MALLINCKRODT PLC: Up to $500 million new senior notes backed by a bridge loan and $1.35 billion term loan; Barclays; to help fund the acquisition of Questcor Pharmaceuticals Inc., an Anaheim Hills, Calif.-based biopharmaceutical company, expected to close in the third quarter of 2014; Mallinckrodt is a Dublin, Ireland-based pharmaceuticals company.

MEN'S WEARHOUSE: $600 million senior notes and a $1.6 billion credit facility; BofA Merrill Lynch and J.P. Morgan Securities LLC; to help fund its purchase of Jos. A. Bank Clothiers expected to close in the third quarter of 2014; Men's Wearhouse is a Houston-based specialty retailer of men's apparel. Jos. A. Bank is a Hampstead, Md.-based designer, manufacturer and retailer of men's apparel, footwear and accessories.

NINE WEST HOLDINGS INC.: $455 million senior unsecured bridge loan or senior notes; also $720 million credit facility launched Feb. 14, including a $445 million term loan and $300 million unsecured term loan led by Morgan Stanley Senior Funding Inc., Jefferies Finance LLC and MCS Capital Markets LLC and $300 million asset-based revolver led by Wells Fargo Securities LLC and Bank of America Merrill Lynch; to help fund the buyout of parent company Jones Group Inc. by Sycamore Partners; marketer and wholesaler of apparel, footwear and accessories.

PROSPECTOR OFFSHORE DRILLING SA: $100 million five-year second-lien bonds via subsidiary Prospector Finance II Sarl; DNB Markets, Pareto Securities, Swedbank (joint); proceeds along with funds from $270 million loan to fully finance the delivery of Prospector 5 drilling rig, which is expected to occur in early June, to refinance existing debt secured by the Prospector 1 drilling rig and for general corporate purposes; Luxembourg-based drilling contractor.

SAFEWAY INC.: $1,625,000,000 senior secured notes and $9.45 billion credit facility; Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley Senior Funding Inc., Barclays, Deutsche Bank Securities Inc., PNC Capital Markets LLC, US Bank, SunTrust Robinson Humphrey Inc.; to fund the buyout of Safeway, expected to close in the fourth quarter of 2014; Pleasanton, Calif.-based food and drug retailer.

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.

WEYERHAEUSER REAL ESTATE CO. (WRECO): $800 million new senior unsecured notes; to help fund the merger with TRI Pointe Homes in a transaction valued at about $2.7 billion, anticipated to close in the second quarter of 2014 (a portion of the proceeds to be paid to Weyerhaeuser at closing); homebuilding subsidiary of Federal Way, Wash.-based Weyerhaeuser Co.

ZEBRA TECHNOLOGIES CORP.: $3.25 billion bonds and bank debt; Morgan Stanley; to fund the acquisition of Motorola Solutions, Inc.'s enterprise business; Lincolnshire, Ill.-based printing technologies company.

Roadshows

Started April 24: CONSOLIDATED MINERALS $400 million; Deutsche Bank.

Started April 29: ESSAR STEEL MINNESOTA $450 million; Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, Jefferies & Co.

April 30-May 6: FORESTAR GROUP INC. $250 million; Goldman Sachs & Co., KeyBanc Capital Markets Inc., J.P. Morgan Securities LLC

May 2 to May 6: ORTHO-CLINICAL DIAGNOSTICS: $1.15 billion; Goldman Sachs & Co., Barclays, Credit Suisse, UBS, Nomura

Starts May 5: KCA DEUTAG ALPHA LTD.: $375 million; J.P. Morgan Securities LLC, Goldman Sachs & Co., HSBC Securities (USA) Inc., Lloyds Securities Inc.

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