High Yield Calendar

Total amount of dollar-denominated high-yield bond offerings being marketed: $3.895 billion

WEEK OF NOV. 17

GENERAL CABLE CORP: $275 million senior unsecured notes due 2010 (B2/B); Merrill Lynch, UBS Investment Bank (joint); Rule 144A/Regulation S; non-callable for four years; part of refinancing plan to replace credit facility, provide additional liquidity, extend debt maturities and reduce leverage; also includes $240 million senior secured asset-based revolving credit facility, $75 million redeemable convertible preferred stock, and $50 million common stock; Highland Heights, Ky. cable manufacturer; roadshow Nov. 6-18; price talk 9¾% area; pricing late Tuesday afternoon.

GOLDEN NUGGET: $155 million (increased from $140 million) senior second lien notes due 2011 (B2/B); Lehman Brothers; Rule 144A; non-callable for four years; three-year 35% equity clawback; part of proceeds, along with $15 million in seller notes and $50 million in cash equity, to fund Poster Financial Group's acquisition of Golden Nugget properties; roadshow started Nov. 7; price talk 8¾%-9%; pricing midday Tuesday.

EQUISTAR CHEMICALS, LP: $200 million add-on to 10 5/8% senior notes due in May 1, 2011 (B2/BB-); JP Morgan, Citigroup, Banc of America Securities (joint), BancOne Capital Markets, BNY, Credit Lyonnais, UBS Investment Bank (co's); Rule 144A; make-whole call at T+50 basis points until May 1, 2007, then callable at 105.313, 102.656, par; $173 million of proceeds to repay bank debt; Houston-based joint venture between Lyondell Chemical Co. and Millennium Chemicals Inc.; original $450 million priced April 16; investor conference call Tuesday morning; pricing Tuesday afternoon.

MEDIANEWS GROUP, INC.: $300 million senior subordinated notes due 2013; Deutsche Bank Securities, Banc of America Securities (joint); Rule 144A/Regulation S; to repurchase or redeem 8¾% senior subordinated notes due 2009; Denver-based parent of Garden State Newspapers, which owns and operates daily and non-daily newspapers in 10 states; roadshow Nov. 18-19; pricing Wednesday.

NORTH AMERICAN ENERGY PARTNERS: $175 million senior notes due 2011; BNP Paribas, RBC; Rule 144A; non-callable for four years; to finance acquisition of company by Sterling Group and others; roadshow Nov. 11-20.

MILLAR WESTERN FOREST PRODUCTS: $175 million senior notes due 2013 (B3/B+); Goldman Sachs (books), CIBC World Markets, Harris Nesbitt, HSBC (co's); Rule 144A; non-callable for five years; equity clawback of 35% for three years; to fund tender for $160 million 9 7/8% senior notes due 2008; Edmonton, Alta. integrated forest products company; roadshow started Nov. 12; pricing Nov. 19 or 20.

MILLICOM INTERNATIONAL CELLULAR SA: $550 million senior notes due 2013 (B3/B-); Morgan Stanley (books), Citigroup (joint lead), Credit Suisse First Boston, Deutsche Bank Securities (co's); Rule 144A/Regulation S; non-callable for five years; to refinance $395 million 11% senior notes due 2006 and $137 million 13.5% senior subordinated notes due 2006; global telecommunications investor with cellular operations in Asia, Latin America and Africa; roadshows: Europe Nov. 7-11, U.S. Nov. 12-18; pricing Nov. 19.

J. RAY MCDERMOTT, SA: $200 million senior secured notes due 2013 (B3/B-); Morgan Stanley; Rule 144A/Regulation S; non-callable for five years; 35% equity clawback; for general corporate purposes; subsidiary of New Orleans-based energy services company McDermott International Inc.; roadshow started Nov. 13; expected to price during the Nov. 17 week.

PINNACLE FOODS CORP.: $150 million senior subordinated notes due 2013; JP Morgan, Deutsche Bank Securities; Rule 144A; non-callable for five years; to fund $485 million acquisition by JPMorgan Partners and C. Dean Metropoulos, from Hicks, Muse, Tate & Furst Inc.; Cherry Hill, N.J.-based manufacturer and marketer of frozen foods, pickles, condiments and barbeque sauce; roadshow started Nov. 12.

ABB LTD.: €650 million senior notes due 2011; Deutsche Bank Securities; Barclays Capital, HVB (joint); Regulation S; non-callable; to strengthen balance sheet; in Zurich, Switzerland provider of power and automation technologies; roadshow started Nov. 17, with pricing expected later the same week.

OMI CORP.: $150 million senior notes due 2013 (B1/B+); Goldman Sachs; Rule 144A with registration rights/Regulation S; non-callable for five years; to repay revolver and for general corporate purposes; Stamford, Conn.-based owner and operator of crude oil tankers and product carriers; roadshow Nov. 14-21.

HYUNDAI MOTOR CO.: $400 million notes due 2010 (Ba1); Citigroup, UBS Investment Bank (joint); Rule 144A/Regulation S; guaranteed by Hyundai Motors; to fund new plant construction in Alabama; roadshow starts Nov. 18 in Hong Kong, then Singapore, U.S. and U.K.

WEEK OF NOV. 24

CHEVY CHASE BANK: $175 million subordinated debentures due 2013 (10-year) Ba3/BB-; Friedman Billings Ramsey (books), Legg Mason (co); public; non-callable for five years; 3-year 25% equity clawback at par plus half of coupon; to help retire $150 million 9¼% notes due 2005 and $100 million 9¼% notes due 2008; Washington D.C.-area full service bank; roadshow starts Nov. 18; pricing Nov. 24.

GENERAL NUTRITION COS. INC.: $190 million senior subordinated notes due 2010 (B3/B-); Lehman Brothers, JP Morgan (joint), UBS Investment Bank (co); Rule 144A; non-callable for four years; to help fund LBO by Apollo Management LP from Royal Numico NV; Pittsburgh-based producer and seller of nutritional supplements; roadshow started Nov. 14; expected to price week of Nov. 24.

VENDEX KBB NV: €200 million senior subordinated notes due 2010; ING, BNP Paribas (joint), ABN Amro (co); Rule 144A/Regulation S; non-callable for three years; three-year equity clawback for 35%; to refinance debt; European nonfood retailer based in Amsterdam; roadshow starts Nov. 18; pricing during Nov. 24 week.

WATERFORD WEDGWOOD PLC: €165 million mezzanine notes due 2010 (B3/B-); Barclays Capital; Rule 144A/Regulation S; non-callable for three years; to repay existing debt; Ireland-based luxury table- and dinnerware manufacturer; Europe roadshow Nov. 17 week; pricing week of Nov 24.

DECEMBER BUSINESS

BOMBARDIER RECREATIONAL PRODUCTS: $200 million 10-year senior subordinated notes; Merrill Lynch (books), Harris Nesbitt, RBC, UBS Investment Bank (co's); Rule 144A; to fund C$1.185 billion LBO by Bain Capital; Montreal-based manufacturer of recreational products; launching early December.

ON THE HORIZON

UNITED AGRI PRODUCTS NORTH AMERICA: high yield bonds; UBS Investment Bank; also $500 million five-year asset-based revolver led by GE and UBS; to help support Apollo Management LP's $600 million acquisition of the company from ConAgra Foods Inc. in a management led buyout; co. is Greeley, Colo. developer and distributor of crop production products and services to growers.

IMAX CORP.: up to $160 million senior notes due 2010 (B-); Rule 144A; to refinance outstanding debt including tender for $153 million of 7 7/8% senior notes due 2005, Credit Suisse First Boston dealer-manager; consent solicitation expires Nov. 20; Missassauga, Ont.-based movie theater operator.

KRATON POLYMERS GROUP: high yield bonds; UBS Securities and Goldman Sachs; also new credit facility, sizes to be determined; to help fund LBO by Texas Pacific Group from Ripplewood Holdings LLC, valued at $770 million, expected to close by year-end; Houston specialty chemicals co. produces styrenic block copolymers.

IMS METER HOLDINGS: senior subordinated debt; also new credit facility led by Credit Suisse First Boston and Goldman Sachs; to help support leveraged buyout of Invensys plc metering business; Raleigh, N.C. manufacturer of water, gas, electric and heat meters for the utility industry.

RESOURCE AMERICA, INC.: $30 million of 12% senior notes due 2008; Bear Stearns and Friedman Billings Ramsey (joint); registered; callable on Aug. 1, 2006 at 106; concurrently company will offer up to $65.336 million of new notes in exchange for all outstanding 12% senior notes due 2004; Philadelphia-based oil and natural gas company.

http://www.sec.gov/Archives/edgar/data/83402/000095011603002731/s-3a.txt

LOEWS CINEPLEX THEATRES: senior subordinated notes; Rule 144A; coming with senior credit facility and IPO; IPO via Goldman Sachs, Citigroup, Credit Suisse First Boston and Merrill Lynch; to repay debt and for general corporate purposes; motion picture exhibitor headquartered in New York City.

SEAT PAGINE GIALLE: €1.2 billion bonds; to help fund €6 billion LBO by BC Partners, CVC, Investitori Associati and Permira.

MB TECH, INC.: high-yield non-convertible bond; to acquire the U.S. and German operating subsidiaries of Willtek, Inc. (Korea); Los Angeles-based manufacturer and distributor of satellite components.

EMERGING MARKETS CORPORATE OFFERINGS

RELIANCE INDUSTRIES: $750 million bond due 2008 (existing ratings Ba2/BB); Credit Suisse First Boston; Regulation S; diversified Indian company.

VNESHTORG BANK: $500 million five-year eurobond; Deutsche Bank Securities, UBS Investment Bank; Regulation S; roadshow begins Nov. 17 week in Europe.

PHILIPPINE NATIONAL BANK: $140 million lower tier II sub bonds due 2013; JP Morgan; non-callable for five years; roadshow expected to start Nov. 14 in Manila, Nov. 17 in Singapore, Nov. 19 in Hong Kong.

ENERSIS SA: $300 million 10-year notes (Ba3/BB+); Deutsche Bank Securities plus others; Rule 144A; to partially repay $1.5 billion term loan; Santiago, Chile energy company; roadshow started Nov. 14.

EMPRESA BRASILEIRA DE TELECOMMUNICACOES SA (Embratel): $200 million guaranteed notes due 2008; Morgan Stanley, Deutsche Bank Securities (joint); Rule 144A/Regulation S with registration rights; non-callable; guaranteed by Embratel Participacoes SA; to refinance debt and for general corporate purposes; Rio de Janeiro-based telecommunications provider; roadshow started Nov. 18 in London, Nov. 19 in Boston, Nov. 20 in New York.

EMERGING MARKETS OFFERINGS ON THE HORIZON

FILINVEST LAND INC.: $100 million bonds due 2008 (unrated); JP Morgan; to refinance debt and fund capital expenditures; Philippine homebuilder; price talk 9 ¼%-9 ½%.

PT BANK MANDIRI: up to $400 million of new debt securities; expected first quarter of 2004.

ROADSHOWS

Nov. 7-11 in Europe; Nov. 12-18 in U.S.: MILLICOM INTERNATIONAL CELLULAR SA $550 million; Morgan Stanley; Rule 144A/Regulation S; 10NC5

Started Nov. 11: NORTH AMERICAN ENERGY PARTNERS $175 million; BNP Paribas, RBC; Rule 144A; 8NC4

Started Nov. 12: MILLAR WESTERN FOREST PRODUCTS $175 million; Goldman Sachs; Rule 144A; 10NC5

Started Nov. 12: PINNACLE FOODS CORP. $150 million; JP Morgan, Deutsche Bank Securities; Rule 144A; 10NC5

Started Nov. 13: J. RAY MCDERMOTT, S.A. $200 million; Morgan Stanley; Rule 144A/Regulation S; 10NC5

Started Nov. 14: PHILIPPINE NATIONAL BANK $140 million; JP Morgan; 10NC5

Started Nov. 14: GENERAL NUTRITION COS. INC. $190 million; Lehman Brothers, JP Morgan; Rule 144A; 7NC4

Started Nov. 14: ENERSIS $300 million; Deutsche Bank Securities; 10-years

Nov.14-21: OMI CORP. $150 million; Goldman Sachs; Rule 144A; 10NC5

Started Nov. 17: ABB LTD. €650 million; Deutsche Bank Securities; Barclays Capital, HVB; Regulation S only; 8NC4

Starts Nov. 18: VENDEX KBB NV €200 million; ING, BNP Paribas; Regulation S-only; 7NC3

Starts week of Nov. 17: VNESHTORG BANK: $500 million; Deutsch Bank Securities, UBS Investment Bank; Regulation S-only; five-year

Starts week of Nov. 17: WATERFORD WEDGWOOD PLC €165 million; Barclays Capital; Rule 144A/Regulation S; 7NC3

Started Nov. 17: CHEVY CHASE BANK $175 million; Friedman Billings Ramsey; public; 10NC5

Starts Nov. 18: EMPRESA BRASILEIRA DE TELECOMMUNICACOES S.A. (Embratel) $200 million; Morgan Stanley, Deutsche Bank Securities; Rule 144A/Regulation S; 5NCL

Starts Nov. 18: HYUNDAI MOTOR CO. $400 million; Citigroup, UBS Investment Bank; Rule 144A/Regulation S; 10-year

Nov. 18-19: MEDIANEWS GROUP, INC. $300 million; Deutsche Bank Securities, Banc of America Securities; Rule 144A/Regulation S; 10-year

Starts early Dec.: BOMBARDIER RECREATIONAL PRODUCTS $200 million; Merrill Lynch; Rule 144A; 10-year

RECENT SHELF FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION

ADVANCED ENERGY INDUSTRIES, INC. (Symbol: AEIS): $250 million shelf filed Nov. 17 for common stock and debt securities; debt may be issued as convertibles; Fort Collins, Colo. manufacturer of components for vacuum process systems will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/927003/000095013403015505/d10592sv3.htm

AMERIGAS PARTNERS, LP/AMERIGAS FINANCE CORP.: $500 million shelf filed Nov. 12 for common units and debt securities; King of Prussia, Pa. propane distributor will use proceeds for general business purposes.

http://www.sec.gov/Archives/edgar/data/945792/000119312503078551/ds3.htm

ROPER INDUSTRIES, INC.: $450 million shelf filed Nov. 14 for debt securities, common stock, stock purchase contracts and units; debt may be issued as convertibles; Duluth, Ga. manufacturer of industrial controls, fluid handling products and analytical instruments will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/882835/000095014403012902/g85607sv3.htm

SCIENTIFIC GAMES CORP.: $500 million shelf filed Nov. 13 for debt securities, which may be issued as convertibles; New York provider of services, systems to the instant ticket lottery industry and the pari-mutuel wagering industry will use proceeds for working capital, capital expenditures or other general corporate purposes.

http://www.sec.gov/Archives/edgar/data/750004/000104746903037282/a2121313zs-3.htm

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