High Yield Calendar: $12.705 billion and €585 million deals being marketed

WEEK OF OCT. 23

METROPCS WIRELESS: $900 million (decreased from $1.1 billion, with $200 million shifted to bank loan) senior notes due 2014 (Caa2/CCC+); Bear Stearns, Merrill Lynch, Banc of America Securities LLC; non-callable for five years; also $1.7 billion credit facility (upsized from $1.5 billion) launching Oct. 11; to refinance $900 million of existing debt and fund the purchase of wireless spectrums won in Auction 66, and general corporate purposes; Dallas-based provider of wireless communications services; price talk 9¼% to 9 3/8%; pricing Thursday.

CABLECOM LUXEMBOURG SCA: €300 million senior notes due 2016 (expected ratings B3/CCC+); JP Morgan; non-callable for three years; to defease the 9 3/8% notes due 2014; Cablecom Luxembourg is a holding company operating cable communications services primarily in Switzerland through its subsidiary, Cablecom GmbH; price talk 8% area; pricing Thursday.

HEXION SPECIALTY CHEMICALS INC. $825 million senior secured second-priority notes due 2014 in two parts (B3/B-): fixed-rate notes, non-callable for four years, price talk 9½% area, and floating-rate notes, non-callable for two years, price talk Libor plus 425 bps area; tranche sizes to be determined; Credit Suisse, JP Morgan (joint); to fund debt recapitalization including a dividend to sponsor Apollo; Columbus, Ohio-based maker of thermoset resins; roadshow started Oct. 17; pricing late Oct. 23 week.

ENCORE MEDICAL FINANCE LLC: $215 million senior subordinated notes due 2014 (Caa1/CCC+); Banc of America Securities LLC, Credit Suisse; Rule 144A with registration rights; non-callable for four years; also $375 million credit facility; to help fund acquisition by The Blackstone Group; subsidiary of Encore Medical Corp., an Austin, Texas-based orthopedic implant manufacturer; roadshow Oct. 18-26.

WEEK OF OCT. 30

IDEARC INC.: $2.85 billion senior notes due 2016 (B2/B+); JP Morgan, Bear Stearns (books), Banc of America Securities LLC (joint books), Barclays Capital, Citigroup, ABN Amro, Credit Suisse, Merrill Lynch & Co., Morgan Stanley (co's); Rule 144A with registration rights/Regulation S; also $6.5 billion credit facility; to finance Verizon Communications Inc.'s spinoff of its directories business, primarily by making a cash distribution to Verizon Communications; new Dallas-based public company formed from spinoff of Verizon Communications directories businesses; roadshow started Oct. 23; pricing expected Nov. 1.

SABINE PASS LNG LP $2.15 billion senior secured first-lien notes in two parts: due 2013 and 2016, both non-callable for life (expected Ba3/confirmed BB); Credit Suisse (books), Lehman Brothers (co); Rule 144A/Regulation S; to repay Sabine's existing $1.5 billion project finance facility and Cheniere LNG Holdings, LLC's $600 million of term debt, as well as to fund a reserve account for scheduled interest payments on the notes through May 2009, to fund completion of phase 1 and phase 2-stage 1 of the Sabine Pass LNG receiving terminal, and for general business purposes; Sabine Pass is a wholly owned subsidiary of Houston-based Cheniere Energy Inc.; roadshow started Oct. 23; pricing Oct. 30 week.

CARLSON WAGONLIT TRAVEL INC. €285 million senior floating-rate notes due 2015 (8.5 years) (expected ratings B2/B-); JP Morgan; non-callable for one year; to refinance the bridge loan used to fund the LBO; roadshow begins Wednesday; Paris-based corporate travel services provider; roadshow started Oct. 25; pricing early-to-mid Oct. 30 week.

MEDIMEDIA USA INC.: $150 million senior subordinated notes due 2014 (Caa1/CCC+); Goldman Sachs & Co.; Rule 144A for life; non-callable for three years; also $250 million credit facility; to repay the bridge loan incurred to fund the acquisition of the company by Vestar from Cinven, The Carlyle Group and Apax Partners; Chatham, N.J.-based specialty health care communications company, roadshow Oct. 25-Nov. 1; pricing mid-to-late Oct. 30 week.

NEENAH FOUNDRY CO.: $300 million senior secured notes (B2/B): fixed-rate notes due 2016 non-callable for five years, and floating-rate tranches due 2013, non-callable for two years; Credit Suisse, Banc of America Securities LLC (joint books); also new revolver; to repay existing senior secured credit facility and fund tender for $133.13 million 11% senior secured notes due 2010; Neenah, Wis.-based foundry company; roadshow started Oct. 23; expected to price Oct. 30 week.

WEEK OF NOV. 6

BRITANIA BULK PLC: $215 million senior secured notes due 2013 (B3/B-); Jefferies & Co, ABN Amro (joint) Davy Securities (co); Rule 144A with registration rights/Regulation S; non-callable for four years; three-year 35% equity clawback; secured by first lien on existing vessels and vessels to be acquired, vessel acquisition account and certain other collateral; to repay all outstanding debt, fund acquisition of vessels and general corporate purposes; London-based owner and operator of drybulk, tug and barge vessels; roadshow Oct. 25-Nov. 6.

HERCULES HOLDING II LLC (HCA INC.) $5.70 billion (B2/BB-): $4.2 billion senior secured second-lien notes with expected maturities in 2014, non-callable for four years, and 2016, non-callable for five years, also $1.5 Citigroup, Bank of America Securities, JP Morgan, Merrill Lynch, Deutsche Bank Securities, Wachovia Securities; Rule 144A with registration rights/Regulation S; also $16.80 billion credit facility; to help fund LBO by Bain Capital, Kohlberg Kravis Roberts & Co., Merrill Lynch Global Private Equity and company founder Thomas F. Frist Jr.; Nashville health care services company billion senior second-lien toggle notes expected to mature in 2016, cash-pay or PIK for first five years;; expected fourth quarter of 2006; roadshow Oct. 26-27 in Europe, U.S. roadshow Oct. 31-Nov. 7, pricing thereafter.

ON THE HORIZON

ARAMARK CORP.: $2.470 billion bonds including $770 million senior subordinated notes and $1.7 billion senior cash pay and/or senior PIK notes, with 50% of the principal having to come in the form of PIK notes, also $4.605 billion credit facilities led by JP Morgan and Goldman Sachs; to fund the approximately $8.3 billion LBO of the company by chairman and chief executive officer Joseph Neubauer together with funds managed by sponsors by Thomas H. Lee Partners LP, Warburg Pincus LLC, JPMorgan Partners, GS Capital Partners and CCMP Capital Advisors, expected to close late 2006 or early 2007; Philadelphia-based professional food, hospitality and facility management services company.

BOMBARDIER CAPITAL FUNDING LP (BOMBARDIER INC.): New notes to fund tender for Bombardier Capital Funding's €500 million 6 1/8% notes due 2007 and a portion of Bombardier Inc.'s €500 million 5¾% notes due 2008; tender expires on Nov. 13, Deutsche Bank dealer manager; Montreal-based transportation solutions company.

CABLEVISION SYSTEMS CORP. $2.81 billion high-yield bonds: SUPER HOLDCO $1.13 billion unsecured senior fixed-rate and floating-rate notes with 10-year minimum maturities; INTERMEDIATE HOLDCO $900 million unsecured senior fixed-rate and floating-rate notes with eight-year minimum maturities; RAINBOW PROGRAMMING HOLDINGS LLC $780 million unsecured senior fixed-rate and floating-rate notes with eight-year minimum maturities; also $9.55 billion in new credit facilities via Merrill Lynch and Bear Stearns; to help fund the buyout of Cablevision by the Dolan Family Group; Cablevision is a Bethpage, N.Y., media, entertainment and telecommunications company.

FIBERTOWER CORP.: $350 million of notes which may included convertibles; Rule 144A/Regulation S; to fund capital expenditures to expand existing network footprint and open additional markets, and for general corporate purposes; FiberTower is a San Francisco-based backhaul and access provider.

FREESCALE SEMICONDUCTOR INC.: $6.15 billion senior unsecured notes and/or senior subordinated notes; also $4.25 billion senior secured credit facility via Citigroup, Credit Suisse, JPMorgan, Lehman Brothers, UBS; to help fund LBO by private equity consortium led by The Blackstone Group and including The Carlyle Group, Permira Funds and Texas Pacific Group, total equity value of the transaction is $17.6 billion; also includes $7.15 billion of equity contribution; bonds are backed by $4.35 billion senior unsecured bridge loan and $1.8 billion senior subordinated unsecured bridge loan; Austin, Texas, semiconductor company; subject to shareholder and regulatory approval.

HANESBRANDS INC.: $500 million of senior notes; Morgan Stanley, Merrill Lynch & Co.; also $2.6 billion senior secured credit facility; substantial portion of the proceeds from the term loan and the bond offering to pay a dividend to Sara Lee prior to the spinoff; following the spinoff, Winston-Salem, N.C.-based Hanesbrands will operate as a publicly traded apparel company; expected third-quarter business.

INFOR GLOBAL SOLUTIONS: High-yield notes (Caa2) to refinance a $1.425 billion senior subordinated bridge facility; also $2.4 billion credit facility via JP Morgan, Credit Suisse and Merrill Lynch & Co. joint bookrunners; part of financing to help fund the acquisitions of Systems Union Group and SSA Global, finance the combination of Infor and Extensity - both currently Golden Gate Capital portfolio companies - and to refinance debt at all four companies; Infor is an Alpharetta, Ga.-based software provider.

KINDER MORGAN INC.: $14.5 billion of funded debt including senior and/or subordinated notes; to help fund proposed $22 billion buyout of the company by management and equity investors led by Goldman Sachs, Citigroup, Deutsche Bank, Wachovia, Merrill Lynch, expected to be completed by early 2007; Houston-based energy infrastructure provider.

NCO GROUP INC.: $365 million of senior subordinated notes (Caa1/B-); also $550 million credit facility; Morgan Stanley and JP Morgan are the lead banks on the debt financing; to help fund $1.26 billion LBO of the company by chairman and chief executive officer Michael J. Barrist in partnership with One Equity Partners II LP, expected to be completed in the fourth quarter; Horsham, Pa., provider of business process outsourcing services.

NEG OIL & GAS LLC: $200 million eight-year senior notes; Bear Stearns & Co., Citigroup (joint books); non-callable for four years; registered; proceeds, together with the concurrent initial public offering by NEG, Inc., will be used to repay part of the revolver, repay debt owed to American Real Estate Partners, LP and fund a distribution to American Real Estate Partners; Dallas independent oil and natural gas exploration production company; expected in September or October.

PAPELES INDUSTRIALES DE MICHOACAN SA DE CV: $320 million senior guaranteed notes due 2016 (Ba3/BB-/BB-); Citigroup; Rule 144A/Regulation S (no registration rights); non-callable for five years, three-year equity clawback; for acquisition finance; issuer formed when Kimberly-Clark de Mexico SA de CV spun off paper and notebooks division.

PT POLYFIN CANGGIH: $75 million senior secured notes due 2011 and 250 warrants to purchase shares; Jefferies & Co.; private placement and Regulation S; non-callable for two years; two-year 35% equity clawback; to repay existing debt, for working capital and general corporate purposes; producer of polyester chips and synthetic yarn in Indonesia, to be incorporated in The Netherlands (guarantors are incorporated in Indonesia, Singapore and the British Virgin Islands; the company's registered office is in Bandung, Indonesia); September business.

REXNORD CORP.: $460 million (expected size) high-yield bonds; to be issued under the indenture of the existing 9½% senior notes due Aug. 1, 2014 or 11¾% senior subordinated notes due Aug. 1, 2016; proceeds for Zurn purchase of Jacuzzi Brands, Inc.'s plumbing products business for about $950 million, expected to close 2007 first quarter; Milwaukee-based power train manufacturer.

RITE AID CORP: $875 million six-year notes (could be increased by $850 million if Jean Coutu 8½% senior subordinated notes are not assumed); Citigroup; also $1.105 billion senior secured term loan; to fund the acquisition of Jean Coutu Group USA Inc., transaction expected to close late 2006 or early 2007; Rite Aid is a Camp Hill, Pa., national drugstore chain.

RSC EQUIPMENT RENTAL: New bonds and bank loan via Deutsche Bank Securities and Citigroup; to help fund acquisition of RSC by Ripplewood Holdings and Oak Hill Capital Management from Atlas Copco for $3.4 billion; Scottsdale, Ariz.-based heavy equipment rental company; expected to close before the end of 2006.

SALLY BEAUTY CO. $710 million: $430 million senior unsecured guaranteed notes (B2/CCC+) and $280 million senior subordinated unsecured guaranteed notes (Caa1/CCC+); also $1.07 billion credit facility led by Merrill Lynch, JPMorgan, Bank of America and Morgan Stanley; proceeds to help fund the special cash dividend that Sally Beauty will be paying Alberto-Culver as part of the spinoff, transaction expected fourth quarter; Melrose Park, Ill., beauty supplies distribution business.

SUN HEALTHCARE GROUP INC.: $250 million senior subordinated notes; also $505 million senior secured credit facility via Credit Suisse and CIBC; to fund its acquisition of Harborside Healthcare Corp., expected to close in first half of 2007; Sun is an Irvine, Calif., operator of long-term and postacute care facilities, and a provider of therapy, medical staffing, home care and hospice services.

TROPICANA ENTERTAINMENT: $975 million in high-yield bonds; also $2.175 billion in credit facilities; Credit Suisse is the lead bank on the debt transactions; in connection with acquisition of Aztar Corp.; a newly formed subsidiary of Columbia Entertainment, a Fort Mitchell, Ky., owner, developer and operator of hotel properties and casinos; expected to close by the end of 2006.

UNIVISION COMMUNICATIONS INC.: $2 billion high-yield bonds via Credit Suisse (Deutsche Bank, Bank of America Securities and Wachovia expected to be involved), also new $8.25 billion credit facility; to help back leveraged buyout by Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and Saban Capital Group; expected to close in spring 2007; Los Angeles-based Spanish-language media company.

ROADSHOWS

Started Oct. 17: HEXION SPECIALTY CHEMICALS INC. $825 million; Credit Suisse, JP Morgan

Oct. 18-26: ENCORE MEDICAL FINANCE LLC $215 million; Banc of America Securities LLC, Credit Suisse

Started Oct. 23: NEENAH FOUNDRY CO. $300 million; Credit Suisse, Banc of America Securities LLC

Started Oct. 23: SABINE PASS LNG LP $2.15 billion; Credit Suisse

Started Oct. 23: IDEARC INC. $2.85 billion; JP Morgan, Bear Stearns

Oct. 25-Nov. 1: MEDIMEDIA USA INC. $150 million; Goldman Sachs & Co.

Oct. 25-Nov. 6: BRITANIA BULK PLC $215 million; Jefferies & Co, ABN Amro

Started Oct. 25: CARLSON WAGONLIT TRAVEL INC. €285 million; JP Morgan

Oct. 26-Nov. 7: HERCULES HOLDING II LLC (HCA INC.) $5.70 billion; Citigroup, Banc of America Securities LLC, JP Morgan, Merrill Lynch, Deutsche Bank Securities, Wachovia Securities

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