High Yield Calendar

Total amount of high-yield bond offerings being marketed: $1.20 billion and €445 million

WEEK OF JULY 11

QUIKSILVER, INC.: $350 million senior notes due 2015 (expected B1/confirmed BB-); JP Morgan (books), Banc of America Securities, SG Corporate & Investment Banking (joint leads); Rule 144A/Regulation S; non-callable for five years; proceeds along with credit facility to help finance the acquisition of Skis Rossignol SA and to repay debt (proceeds to be escrowed pending tender of at least 80% of Rossignol's shares); Huntington Beach, Calif.-based producer and distributor of casual clothing; roadshow starts July 6; pricing expected late in the week of July 11.

SCHIEDER MOEBEL HOLDING GMBH: €145 million senior subordinated notes due 2012 (B3/B-); Citigroup, WestLB (joint); Rule 144A/Regulation S; non-callable for four years; to repay debt; Herford, Germany, furniture company; roadshow starts week of July 4; pricing late July 4 week or early July 11 week.

CENTRAL EUROPEAN DISTRIBUTION CORP.: €300 million in seven-year bonds; ING AG, Rule 144A; non-callable for four years; roadshow starts July 6 in Geneva and Zurich, July 7 in Paris and Amsterdam, July 8 in Vienna and Frankfurt, July 11 in Boston and New York, July 12 in New York, July 13-July 14 in London; U.S. based-alcohol beverage distributor in Poland; headquarters in Bala Cynwyd, Pa., and Warsaw, Poland.

MYLAN LABORATORIES INC. $500 million in two parts (Ba1/BB+): senior unsecured notes due 2010, non-callable for life, and senior notes due 2015, non-callable for five years; Merrill Lynch & Co. (books), BNY Securities, KeyBanc, PNC, SunTrust Robinson Humphrey (co's); Rule 144A/Regulation S; proceeds, along with on hand cash, to fund a $1.25 billion share repurchase program; Canonsburg, Pa., pharmaceutical company; roadshow July 6-14, investor call 12:30 P.M. ET Thursday, July 7; pricing expected on July 14.

CCM MERGER, INC. (MOTORCITY CASINO): $200 million senior unsecured notes due 2013 (B3/B-); Deutsche Bank Securities, Merrill Lynch & Co (joint); Rule 144A with no registration rights; non-callable for four years; to fund the acquisition of MotorCity Casion by Ilitch Holdings from MGM Mandalay; Detroit-based gaming company; roadshow July 7-12; pricing shortly after conclusion of roadshow.

CLAYTON WILLIAMS ENERGY, INC.: $200 million senior notes due 2013 (B3/B-); JP Morgan; Rule 144A/Regulation S with registration rights; non-callable for four years; to repay bank debt and for general corporate purposes; Clayton Williams Energy, Inc. is an independent oil and gas exploration and production company based in Midland, Texas; roadshow July 6-14; pricing July 14.

SUMMER 2005 BUSINESS

SUNGARD DATA SYSTEMS INC.: High-yield bonds; Deutsche Bank Securities involved; to help fund the $11.3 billion acquisition of the company by Solar Capital Corp., a group formed by Silver Lake Partners, Bain Capital, The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. LP, Providence Equity Partners and Texas Pacific Group; financing also includes up to a $5 billion credit facility via JP Morgan and Citigroup; expected summer 2005.

GLOBAL TOYS ACQUISITION LLC: High-yield bonds; Deutsche Bank Securities, Banc of America Securities LLC; also a $2.85 billion U.S. asset-based debt facility, and a $350 million European working capital facility; to back the $6.6 billion Toys "R" Us Inc. acquisition by Bain Capital Partners LLC, Kohlberg Kravis Roberts & Co. and Vornado Realty Trust; expected summer 2005.

THE NEIMAN MARCUS GROUP INC.: $3.9 billion debt financing, including senior secured notes, revolving credit facility, term loans and possibly bridge loans; Credit Suisse First Boston to lead debt financing; to support acquisition of the company by Texas Pacific Group and Warburg Pincus LLC.

ON THE HORIZON

ACCO BRANDS CORP.: $350 million of senior subordinated notes; Rule 144A; company has received commitment for $350 million junior secured term loan C as a back up for the bond deal; also $750 million credit facility via Citigroup; to help fund Fortune Brands Inc.'s spinoff of Acco World Corp. and merger of Acco with General Binding Corp. to form a new entity called Acco Brands; Acco is an Illinois-based supplier of branded office products.

AMADEUS GLOBAL TRAVEL DISTRIBUTION SA: €1 billion (approximate); Credit Suisse First Boston, BNP Paribas plus others; to fund the LBO of the company by BC Partners and Cinven; travel reservations firm based in Madrid, Spain; expected during first half of 2005.

BRASKEM SA: $100 million perpetual senior notes (/BB-/BB-); Banco Itau; Rule 144A/Regulation S; non-callable for five years; Sao Paulo, Brazil, petrochemical company.

THE DOLAN FAMILY GROUP (CABLEVISION): $4.25 billion in a multi-tranche bond offering at the holding company level; also $2.8 billion credit facility at the operating company level via Bank of America and Merrill Lynch; proceeds to be used to take Cablevision Systems Corp. private; pending shareholder approval; Cablevision is a Bethpage, N.Y.-based telecom and cable business.

CHENIERE ENERGY: $500 million senior notes due 2015 (B3/B+); JP Morgan, Credit Suisse First Boston (joint), Banc of America Securities (co); Rule 144A/Regulation S; non-callable for five years; to fund three-year interest reserve, capital expenditures and for general corporate purposes; Houston-based company is a provider of liquified natural gas services; price talk 8¾% area was before offering was postponed on April 19 due to market conditions.

DACOM CORP.: $300 million notes due 2010 (expected ratings Ba3/BB-); Credit Suisse First Boston; Rule 144A/Regulation S; non-callable for life; to refinance debt; South Korea-based integrated service provider of telecommunications and internet related services; roadshow started March 14 week in Asia, March 17 in London, March 18-21 in Boston and New York City.

PACIFIC ENERGY PARTNERS: High-yield bonds as part of the funding for $455 million acquisition of some terminal and pipeline assets from subsidiaries of Valero LP; $400 million five-year secured revolving credit facility and a $300 million 364-day bridge facility; Bank of America and Lehman Brothers; Long Beach, Calif., master limited partnership engaged in the business of gathering, transporting, storing and distributing crude oil and other related products.

PETROHAWK ENERGY CORP.: $125 million high-yield bonds; to back the consolidation of the bank debt of Petrohawk and soon-to-be-acquired Mission Resources Corp.; bank group includes BNP Paribas; Petrohawk is a Houston-based energy company; Mission Resources is a Houston-based independent exploration and production company.

SIRIUS SATELLITE RADIO INC.: $250 million senior notes due 2015 (/CCC); JP Morgan, Morgan Stanley (joint), UBS Investment Bank (co); Rule 144A/Regulation S with registration rights; make-whole call at Treasuries plus 50 basis points for first five years, then callable at premium; 40% equity clawback; approximately $63.1 million of proceeds to redeem outstanding 15% senior secured discount notes due 2007 and 14½% senior secured notes due 2009, and for general corporate purposes; New York-based satellite radio broadcast company.

TIM HELLAS: Bond financing to back €1.1 billion buyout of the company by Apax Partners and Texas Pacific Group from Telecom Italia; Deutsche Bank Securities, JP Morgan, others; TIM Hellas is the Greek mobile telephone operation, of which Telecom Italia is the majority stake-holder; expected to close in July.

TRAVELEX GROUP: Sterling-denominated bonds, size of offering to be determined; Deutsche Bank Securities; a consortium led by Apax Partners signed an agreement in February 2005 to acquire a majority stake in Travelex, transaction expected to close in 2005; London-based foreign currency exchange services provider.

PREFERRED OFFERINGS

COMPANHIA SIDERUGICA NACIONAL SA: $150 million perpetual preferred shares; Credit Suisse First Boston, Deutsche Bank Securities (joint books); non-callable for five years; roadshow started July 4 in Singapore, July 5 in Hong Kong, July 6 in Geneva and Zurich; Brazilian steel company; expected to price week of July 4.

ROADSHOWS

Starts July 4 week: SCHIEDER MOEBEL HOLDING GMBH €145 million; Citigroup, WestLB

Starts July 6: QUIKSILVER, INC. $350 million; JP Morgan

Starts July 6: CENTRAL EUROPEAN DISTRIBUTION CORP. €300 million; ING

July 6-14: MYLAN LABORATORIES INC. $500 million; Merrill Lynch & Co.

July 6-14: CLAYTON WILLIAMS ENERGY, INC. $200 million; JP Morgan

July 7-12: CCM MERGER, INC. (MOTORCITY CASINO) $200 million; Deutsche Bank Securities, Merrill Lynch & Co.

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