High Yield Calendar: $2.74 billion deals being marketed

JUNE 23 WEEK

B/E AEROSPACE INC.: $500 million senior notes due 2018 (Ba3/BB+); J.P. Morgan Securities Inc., Credit Suisse, UBS Investment Bank (joint book), RBS Greenwich Capital, SunTrust Robinson Humphrey, Wells Fargo Securities (co's); SEC registered; make-whole call first five years, then callable at a premium; three-year 35% equity clawback; change-of-control put; to help fund acquisition of the Consumables Solutions business of Honeywell International Inc.; Wellington, Fla.-based manufacturer of aircraft cabin interior products and an aftermarket distributor of aerospace fasteners; price talk 8¼% to 8½%; books close noon ET Thursday, pricing thereafter.

CW MEDIA HOLDINGS INC.: $310 million due 2015, PIK for three years then cash pay; Goldman Sachs & Co. (lead), Lehman Brothers (co); Rule 144A for life; non-callable for three years; to refinance bridge incurred in acquisition of Alliance Atlantis Communications Inc. by CanWest and GS Capital; price talk 13¼% to 13½%; expected to price Thursday.

FERRELLGAS, LP & FERRELLGAS FINANCE CORP.: $250 million mirror notes to the 6¾% senior notes due May 1, 2014 (Ba3/B+); Banc of America Securities LLC, J.P. Morgan Securities Inc. (joint), BNP Paribas, Credit Suisse, Deutsche Bank Securities, Fifth Third, SG Corporate & Investment Banking, Wells Fargo Securities; Rule 144A with registration rights; callable May 1, 2009 at 103.375; to reduce bank debt; Overland Park, Kan.-based distributor of propane and related equipment; investor call 12:30 p.m. ET Thursday.

JUNE 30 WEEK

STATS CHIPPAC LTD.: $1 billion in two tranches of senior notes (Ba1/BB+), sizes to be determined; Credit Suisse, Deutsche Bank Securities; Rule 144A; proceeds together with a new credit facility to fund a dividend to Temasek Holdings shareholders and to refinance debt; Singapore-based semiconductor test and advanced packaging services provider; roadshow started June 23; pricing expected during June 30 week.

FOX ACQUISITION SUB LLC: $230 million senior notes due 2016; Deutsche Bank Securities, UBS Investment Bank, Banc of America Securities LLC (joint books), BNP Paribas (joint lead); Rule 144A for life; non-callable for four years; to fund the acquisition of eight stations from News Corp.; roadshow June 23-July 1.

AEI: $250 million senior notes due 2018 (B2/BB); Credit Suisse; Rule 144A with registration rights; non-callable; to repay existing credit facilities; Houston-based energy services company started by Ashmore Group plc; roadshow starts June 23; pricing expected June 30 week.

FERRO CORP.: $200 million senior notes due 2016 (B2); Credit Suisse, Citigroup, J.P. Morgan Securities Inc. (joint), KeyBanc Capital Markets, National City Capital Markets, Fifth Third Securities, Morgan Stanley, Piper Jaffray, RBS Greenwich Capital; SEC registered; make-whole call first four years then callable at a premium; three-year 35% equity clawback; change-of-control put; proceeds plus available cash, including revolver, to redeem all of Ferro's outstanding 9 1/8% senior notes due 2009, and for general corporate purposes; Cleveland-based supplier of technology-based performance materials for manufacturers; roadshow started June 23; pricing June 30 week.

DEALS BEING QUIETLY MARKETED

RITE AID CORP.: $425 million senior secured second-lien notes due 2016 (B3/B+/BB-); to partially fund tender of its $360 million 8 1/8% senior secured notes due 2010, $200 million 7½% senior secured notes due 2015 and $150 million 9¼% senior notes due 2013, Citigroup dealer-manager (company announced June 18 that consent solicitation was successfully completed); also new $350 million six-year senior secured term loan; Camp Hill, Pa., national drugstore chain.

ANNOUNCED

SENSATA TECHNOLOGIES BV: €141 million 11¼% senior subordinated notes due 2016; Morgan Stanley, Goldman Sachs & Co.; Rule 144A; proceeds, along with cash, to repay senior subordinated term loan, originally issued as bridge financing for the acquisition of Airpax Holdings, Inc. in July 2007; Attleboro, Mass.-based designer and manufacturer of sensors and controls.

TERM LOAN

NEWSDAY LLC: $650 million five-year fixed-rate term loan (B1), non-callable for 2½ years; Banc of America Securities LLC; to help fund acquisition of Newsday by Cablevision Systems Corp. from Tribune Co.; daily newspaper serving Long Island and New York City; will be targeted to a high-yield audience; to launch with July 26 bank meeting.

ON THE HORIZON

ABBOT GROUP PLC: $615 million equivalent notes due 2018 in possible dollar- and euro-denominated tranches; The Royal Bank of Scotland, Goldman Sachs & Co.; part of $2.16 billion LBO financing in which company will be acquired by First Reserve; Aberdeen, Scotland-based oilfield equipment and services provider; originally scheduled for April, pending market conditions.

AGILE PROPERTY HOLDINGS LTD.: Up to $400 million senior notes (Ba3/BB) in fixed-rate and floating-rate tranches; HSBC; Rule 144A/Regulation S; to finance new and existing projects; Hong Kong-based property developer.

ALLIS-CHALMERS ENERGY INC.: $350 million bridge loan, which could be taken out by high-yield bonds (backed by $350 million senior unsecured bridge facility arranged by RBC Capital Markets and GSCP); to help fund the acquisition of Bronco Drilling Co., Inc. for about $437.8 million and to repay assumed Bronco Drilling debt, RBC Capital Markets exclusive financial adviser to Allis-Chalmers, a Houston-based multi-faceted oilfield company; acquisition expected to occur mid-2008.

AVAYA INC.: $1.45 billion senior unsecured notes (CCC+): $700 million cash-pay notes and $750 million PIK toggle notes; Morgan Stanley, Citigroup, J.P. Morgan Securities Inc. (joint); also $4.335 billion credit facilities; to fund LBO by Silver Lake and TPG Capital; Basking Ridge, N.J., provider of communication systems, applications and services; expected first-half 2008 business.

BCE INC.: C$11.3 billion U.S. dollar equivalent bonds: up to $7.5 billion senior notes and $3.8 billion subordinated notes; also C$23.05 billion credit facility; Citigroup, Deutsche Bank, RBS Securities, TD Securities lead banks on financing; to fund LBO by Teachers Private Capital, Providence Equity Partners Inc. and Madison Dearborn Partners, LLC, expected to be completed first half of 2008; Montreal-based communications company.

BIL HOLDINGS (LYONDELL-BASELL FINANCE CO. LTD.): $8 billion equivalent: $5.5 billion equivalent senior secured second-lien notes (B2/B+) and $2.5 billion equivalent senior unsecured notes (B3/B-) both in dollar and euro tranches; Citigroup, Goldman Sachs, Merrill Lynch, ABN Amro, UBS Investment Bank; to finance acquisition of Houston-based Lyondell Chemical Co.; Basell is a Netherlands-based producer of polypropylene and polyethylene; expected first half 2008 business.

CATALINA MARKETING CORP.: $490 million notes (Caa1/B-): $330 million senior PIK toggle notes and $160 million senior subordinated notes; Bear Stearns, Goldman Sachs & Co., Morgan Stanley; Rule 144A; to fund the acquisition of the company by Hellman & Friedman Capital partners VI; St. Petersburg, Fla., provider of promotional marketing services; expected first half 2008 business.

CDW CORP.: $1.94 billion notes: $890 million senior unsecured cash-pay notes due 2015 (Caa1/CCC+), $300 million senior unsecured PIK toggle notes due 2015 (Caa1/CCC+) and $750 million senior subordinated notes due 2017 (Caa2/CCC+); J.P. Morgan Securities Inc., Lehman Brothers, Deutsche Bank Securities, Morgan Stanley; to refinance bridge loan related to LBO; Vernon Hills, Ill., provider of technology products and services.

CLEAR CHANNEL COMMUNICATIONS INC.: $2.31 billion of notes: $980 million of 10¾% senior cash pay notes due 2016 and $1.33 billion 11% (11¾% if PIK) senior PIK toggle notes due 2016; Deutsche Bank Securities Inc., Morgan Stanley & Co. Incorporated, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Greenwich Capital Markets, Inc. and Wachovia Capital Markets, LLC; Rule 144A; LBO financing; San Antonio media and entertainment company.

EMPLOYERS HOLDINGS INC.: $150 million senior notes due 2018; Rule 144A; to fund a portion of the $193.9 million acquisition of AmCOMP Inc., expected to close during the second quarter of 2008; Reno, Nev.-based provider of worker compensation insurance to U.S. small businesses; pro forma interest rate is 8%.

FIRST DATA CORP.: $6.75 billion: $1.5 billion senior cash-pay notes, $2.75 billion senior PIK notes, $2.5 billion senior subordinated notes; Citigroup plus others; to help repay bridge financing for LBO of the company by Kohlberg Kravis Roberts & Co.; Greenwood Village, Colo., check and credit card transaction services provider.

GENERAL MOLY: $540 million to $700 million debt financing including high-yield bonds, leveraged loans and possibly convertibles; underwriter to be determined; to fund the Mt. Hope molybdenum project, located in central Nevada; also $240 million to $400 million of equity; formerly Idaho General Mines, General Moly is a Lakewood, Colo.-based molybdenum mineral development, exploration and mining company; possible late 2008-early 2009 business.

LANDRY'S RESTAURANTS INC.: $315 million senior secured notes; Jefferies & Co.; also $300 million credit facility; to fund the buyout by Fertitta Holdings Inc., expected to close late third quarter or early fourth quarter of 2008; Landry's is a Houston-based restaurant, hospitality and entertainment company.

NORTH AMERICAN ENERGY ALLIANCE: $325 million senior unsecured notes; Barclays Capital; also $545 million credit facility (BB+); to help back the roughly $1.477 billion acquisition of 1,706 megawatts of generation projects by Industry Funds Management from Consolidated Edison Inc.

PENN NATIONAL GAMING INC.: High-yield bonds and new credit facility via Deutsche Bank Securities and Wachovia Securities; to fund LBO by Fortress Investment Group LLC and Centerbridge Partners LP, valued at about $8.9 billion, including repayment of $2.8 billion of outstanding Penn National debt; Wyomissing, Pa., gaming company.

RELIANCE STEEL & ALUMINUM CO.: $750 million via new debt and equity securities; to fund the acquisition of PNA Group Holding Corp., transaction expected to close by mid-August; Reliance Steel is a Los Angeles-based metals service center company.

RIVERDEEP INTERACTIVE LEARNING USA: $820 million senior subordinated notes; Credit Suisse, Citigroup (joint); proceeds along with $1.87 billion senior bank debt, $750 million mezzanine debt and $1.5 billion equity to fund the acquisition of Houghton Mifflin by Riverdeep from Thomas H. Lee Partners, Bain Capital Partners, LLC and Blackstone Group for $3.4 billion; Riverdeep, based in Dublin, Ireland, is a publisher of interactive products for the consumer and school markets.

UNITED TEST AND ASSEMBLY CENTER LTD. (UTAC): $475 million senior notes due 2015: $275 million senior cash-pay notes and $200 million senior PIK notes; J.P. Morgan Securities Inc., Merrill Lynch, ABN Amro; non-callable for four years; to finance LBO; Singapore-based semiconductor testing and assembly company.

UNIVAR NV: $600 million senior subordinated notes; also $1.375 billion credit facility via Bank of America and Deutsche Bank; to fund the acquisition of the company by CVC Capital Partners; to help fund the acquisition of Univar; Netherlands-based distributor of industrial chemicals and provider of related specialty services.

ROADSHOWS

Pricing expected June 26: B/E AEROSPACE INC. $500 million; J.P. Morgan Securities Inc., Credit Suisse, UBS Investment Bank

Expected to price late June 23 week: CW MEDIA HOLDINGS INC.: $310 million; Goldman Sachs & Co.

Investor call June 26: FERRELLGAS, LP & FERRELLGAS FINANCE CORP. $250 million; Banc of America Securities LLC, J.P. Morgan Securities Inc.

Started July 23: STATS CHIPPAC LTD. $1 billion; Credit Suisse, Deutsche Bank Securities

Started June 23: AEI $250 million; Credit Suisse

Started June 23: FERRO CORP. $200 million; Credit Suisse, Citigroup, J.P. Morgan Securities Inc.

June 23-July 1: FOX ACQUISITION SUB LLC $230 million; Deutsche Bank Securities, UBS Investment Bank, Banc of America Securities LLC

To launch with June 26 bank meeting: NEWSDAY LLC $650 million fixed-rate term loan; Banc of America Securities LLC (will be targeted to a high-yield audience)

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