High Yield Calendar: $2.685 billion and €900 million deals being marketed

FEBRUARY 8 WEEK

SONGA OFFSHORE SE: $200 million senior notes due 2017 (Caa1/B+); Citigroup; Rule 144A/Regulation S; to refinance debt and for general corporate purposes; drilling contractor, based in Limassol, Cyprus; price talk 10¼% area; pricing during Feb. 8 week (previously scheduled to price Feb. 5 but moved back).

NFR ENERGY LLC and NFR ENERGY FINANCE CORP.: $250 million senior unsecured notes due 2017 (/B/); UBS Investment Bank (left books), Bank of America Merrill Lynch, J.P. Morgan Securities Inc., BNP Paribas Securities Corp. (joint books), Capital One, Natixis Bleichroeder, BBVA Securities Inc., Comerica Investments (co's); Rule 144A/Regulation S with registration rights; non-callable for four years; to repay revolver and second-lien term loan; Houston-based oil and gas exploration and development company; roadshow starts Feb. 2; pricing Feb. 9.

ITC DELTACOM INC.: $325 million first-lien senior secured notes due 2016; Credit Suisse Securities, Jefferies & Co. (joint); Rule 144A/Regulation S; non-callable for three years; to repay bank debt and for general corporate purposes; Huntsville, Ala.-based voice, data and internet services provider; roadshow started Feb. 2; pricing expected Feb. 9.

SEVERSTAL COLUMBUS, LLC: $250 million first-priority senior secured notes due 2018 (/B/); Credit Suisse Securities, Citigroup Global Markets Inc. (joint); Rule 144A with registration rights; non-callable for four years; to refinance bank debt and project debt and for general corporate purposes; Columbus, Miss.-based steel mill; U.S. roadshow Feb. 1 week, London roadshow Feb. 9; pricing Feb. 9 or Feb. 10.

COMMUNITY EDUCATION CENTERS, INC.: $210 million senior secured notes due 2016; Jefferies & Co.; Rule 144A/Regulation S for life; non-callable for 3.5 years; to repay existing debt; West Caldwell, N.J.-based education and treatment services provider for local, state and federal corrections systems; roadshow Jan. 29-Feb. 10.

KEMET CORP.: $275 million senior notes due 2018; Bank of America Merrill Lynch (sole), KeyBank Capital Markets Inc., UBS Investment Bank (co's); Rule 144A with registration rights; non-callable for four years (10% of issue callable annually at 103.0); to repay substantially all outstanding debt under existing credit facilities, and fund tender for a portion of the 2¼% convertibles due 2026; Greenville, S.C.-based manufacturer of capacitors; roadshow starts Feb. 4; pricing middle of Feb. 8 week.

SABLE INTERNATIONAL FINANCE LTD. (CABLE AND WIRELESS PLC): $500 million senior secured notes due 2017 (Ba2/BB); Barclays Capital, BNP Paribas, JPMorgan, RBS (joint), Citigroup, HSBC, Lloyds (co's); Rule 144A/Regulation S; non-callable for four years; to refinance debt and provide liquidity; Bracknell, England-based telecommunications services provider to British Virgin Islands, Cayman Islands, Panama, Macau, Maldives, Monaco, Seychelles, the Falkland Islands, St. Helena, Turks and Caicos Islands, Anguilla, Guernsey and Bermuda; roadshow Feb. 4 in Boston, Feb. 5 on U.S. West Coast, Feb. 8 in New York.

HUDSON PRODUCTS HOLDINGS INC.: $250 million senior secured second-lien notes due 2016; UBS Investment Bank (books), BNP Paribas Securities Corp. (co); Rule 144A/Regulation S for life; non-callable for three years; to prepay existing credit facility; Sugar Land, Texas-based heating and cooling company.

INTERXION HOLDING: €200 million senior secured fixed-rate notes due 2017 (/B-/); Citigroup, Bank of America Merrill Lynch, Credit Suisse, Barclays; non-callable for four years; to repay revolver; Tupolevlaan, Netherlands-based provider of premium carrier-neutral data centers; roadshow started Feb. 2 in London.

NEW WORLD RESOURCES NV: €700 million equivalent senior secured notes due 2018, in dollars and euros; Goldman Sachs & Co. (left books), JPMorgan, Morgan Stanley (joint books); Rule 144A/Regulation S; non-callable for four years; to repay senior secured loan facilities and for general corporate purposes; Amsterdam-based company produces coal for the central European steel industry; roadshow in Europe Feb. 1 week, in United States Feb. 8 week.

STALLION OILFIELD HOLDINGS, INC.: $225 million first-lien senior secured notes due 2015 (/B-/); Credit Suisse, Bank of America Merrill Lynch, Jefferies & Co. (joint); Rule 144A with registration rights; non-callable for three years (10% of issue callable annually at 103.0); three-year 35% equity clawback; change-of-control and ratings decline put at 101%; to refinance senior secured credit facility and for general corporate purposes; Houston-based oilfield services provider focused on wellsite support and construction and logistics services; roadshow during Feb. 1 week; pricing Feb. 8 week.

RCS & RDS: $200 million senior unsecured notes due 2017 (B+); Citigroup; non-callable for four years; to repay bank debt, to fund acquisitions, to fund capital expenditures and for general corporate purposes; Bucharest, Romania-based telecommunications company; Europe and U.S. roadshows during Feb. 8 week; pricing expected late Feb. 8 week.

ON THE HORIZON

ANWORTH MORTGAGE ASSET CORP.: $600 million; Santa Monica, Calif.-based real estate investment trust focusing on mortgage-backed securities and residential mortgage loans

BIOSCRIP INC.: $225 million senior notes, via Jefferies; also $225 million credit facility (all in interest on the credit facility and the notes expected to be in the 9% area); to help fund acquisition of Critical Homecare Solutions for $343.2 million in cash and stock, expected to close March 31, 2010; BioScrip is an Elmsford, N.Y.-based specialty pharmaceutical health care organization.

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., Deutsche Bank Securities Inc., Morgan Stanley & Co.; to refinance bridge loan related to LBO; Vernon Hills, Ill., provider of technology products and services.

CEDAR FAIR LP: $1.95 billion financing commitment via JPMorgan, Bank of America, Barclays Capital, UBS and KeyBanc Capital Markets, including $700 million high-yield bonds and $1.25 billion credit facility; to help fund $2.4 billion buyout by Apollo Global Management, expected to close during the second quarter of 2010; Sandusky, Ohio-based amusement-resort operator.

CWI: $1 billion of new bonds and credit facilities; to replace existing debt facilities and meet medium-term debt maturities; deal is related to separation of CWI and Worldwide into two companies separately listed on the London Stock Exchange, targeted for completion by March 31, 2010; CWI is a London-based telecommunications business.

IMS HEALTH INC.: $1 billion of senior unsecured notes; Goldman Sachs & Co.; to help fund buyout by TPG Capital and the CPP Investment Board, expected to close first quarter of 2010, subject to approval of IMS shareholders, regulatory approvals and customary closing conditions; Norwalk, Conn.-based provider of market intelligence to the pharmaceutical and health care industries.

INFORMA GLOBAL MARKETS: High-yield notes (Ba2/BB), size to be determined; JPMorgan; London-based real-time capital markets information services provider; originally scheduled as early September business, pending market conditions.

NORTH AMERICAN ENERGY PARTNERS, INC: C$200 million (approximate) notes; Edmonton, Alta.-based gas and oil field services provider.

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.

TREEHOUSE FOODS INC.: $400 million high-yield bonds, plus borrowings from existing revolver, and $100 million stock offering, to help fund purchase of Sturm Foods from HM Capital Partners for $660 million, expected to close first quarter of 2010; Bank of America Merrill Lynch, financial adviser to Treehouse; Westchester, Ill.-based food manufacturer servicing primarily the retail grocery and foodservice channels.

ROADSHOWS

Jan. 29-Feb. 10: COMMUNITY EDUCATION CENTERS, INC. $210 million; Jefferies & Co.

Feb. 1 week: STALLION OILFIELD HOLDINGS, INC. $225 million; Credit Suisse, Bank of America Merrill Lynch, Jefferies & Co.

Started Feb. 2: NFR ENERGY LLC and NFR ENERGY FINANCE CORP. $250 million; UBS Investment Bank

Started Feb. 2: INTERXION HOLDING €200 million; Citigroup, Bank of America Merrill Lynch, Credit Suisse, Barclays

Started Feb. 2: ITC DELTACOM INC. $325 million; Credit Suisse Securities, Jefferies & Co.

Feb. 2-9: SEVERSTAL COLUMBUS, LLC $250 million; Credit Suisse Securities, Citigroup Global Markets Inc.

Started Feb. 4: SABLE INTERNATIONAL FINANCE LTD. (CABLE AND WIRELESS PLC) $500 million; Barclays Capital, BNP Paribas, JPMorgan, RBS

Started Feb. 4: KEMET CORP. $275 million; Bank of America Merrill Lynch

Europe roadshow underway/U.S. roadshow starts Feb. 8 week: NEW WORLD RESOURCES NV €700 million equivalent; Goldman Sachs & Co.

Feb. 8 week: RCS & RDS $200 million; Citigroup

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