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Published on 7/29/2010 in the Prospect News High Yield Daily.

High Yield Calendar: $2.5 billion and €200 million deals being marketed

JULY 26 WEEK

MYLAN, INC.: $300 million fungible add-on to the 7 7/8% senior unsecured notes due July 15, 2020 (existing ratings B1/BB-); Goldman Sachs & Co.; Rule 144A for life; callable July 15, 2015 at 103.938; to fund the pending acquisition of Bioniche Pharma Group Ltd., or for general corporate purposes, which may include debt repayment, if the acquisition is not consummated; Pittsburgh-based pharmaceutical company; investor call at 10:30 a.m. ET Friday, pricing thereafter; original $700 million issue priced at 99.97 to yield 7 7/8% on May 12, 2010.

INTERNATIONAL PERSONAL FINANCE: €200 million senior unsecured notes due 2015 (//BB+); Citigroup, HSBC; Regulation S; non-callable for five years; to refinance debt and/or finance operations of subsidiaries; Leeds, England-based international home credit business, with operations in Poland, Hungary, Romania, Czech Republic, Slovakia and Mexico; price talk 11¼% area (deal was pre-marketed in April, at which time guidance was 10% to 10½%); expected to price Friday.

AUG. 2 WEEK

TRILOGY INTERNATIONAL PARTNERS LLC and TRILOGY INTERNATIONAL FINANCE INC.: $370 million senior secured notes due 2016; Goldman Sachs & Co. (left lead bookrunner), Deutsche Bank Securities Inc., J.P. Morgan Securities Inc. (joint bookrunners); Rule 144A/Regulation S for life; non-callable for three years; to repay $250 million term loan and to invest in New Zealand operations; Bellevue, Wash.-based telecommunications company with operations in the Caribbean, Latin America and New Zealand; pricing early Aug. 2 week.

TURBO BETA PLC (KCA DEUTAG DRILLING GROUP LTD.): $500 million senior unsecured notes due 2018 (Caa2/CCC); Goldman Sachs & Co. (global coordinator), HSBC, Lloyds TSB, Royal Bank of Scotland (joint books), Natixis Bleichroeder (co); Rule 144A/Regulation S; non-callable for four years; proceeds, together with equity injection from shareholders, to refinance debt; Turbo Beta is the owner of KCA Deutag, an oil and gas services company based in Aberdeen, Scotland, formerly known as Abbot Group Ltd.; European roadshow July 27-28, U.S. roadshow July 29-Aug. 4.

MARINA DISTRICT FINANCE CO., INC. (BORGATA); $725 million senior secured notes due 2015, non-callable for three years, and due 2018, non-callable for four years; Bank of America Merrill Lynch, Wells Fargo Securities, J.P. Morgan Securities Inc., Barclays Capital Inc., RBS Securities Inc., UBS Investment Bank (joint), Daiwa Securities America Inc., Capital One Southcoast, Inc. (co's); Rule 144A with registration rights; 101% poison put; to repay bank debt and fund dividend; Atlantic City-based lodging, entertainment and gaming company; roadshow starts July 27; pricing Aug. 5.

ENERGYSOLUTIONS, INC. and ENERGY SOLUTIONS, LLC: $300 million senior unsecured notes due 2018 (B3/BB-); J.P. Morgan Securities Inc., Credit Suisse, Citigroup Global Markets Inc. (joint); Rule 144A/Regulation S with registration rights; non-callable for four years; to refinance existing secured debt; Verona, Wis.-based low-level radioactive waste services business; roadshow July 28-Aug. 4; pricing expected Aug. 5.

GENTIVA HEALTH SERVICES INC.: $305 million senior unsecured notes due 2018; Barclays Capital Inc. plus others; also $925 million credit facility; to fund acquisition of Odyssey HealthCare Inc., expected to close in third quarter of 2010, and refinance existing debt; Gentiva is an Atlanta-based home health care provider; late July or early August business.

EXPECTED EARLY AUGUST

FERRO CORP.: $250 million senior notes; Credit Suisse plus others; to help fund the tender for its 6½% convertible senior notes due 2013; Cleveland-based supplier of technology-based performance materials for manufacturers; early August business.

ON THE HORIZON

CABLEVISION SYSTEMS CORP.: New high-yield bonds as part of approximately $1 billion in bank and bond debt financing to fund the $1.365 billion acquisition of Bresnan Communications, expected to close late 2010 or early 2011; Bank of America Merrill Lynch and Citigroup are the lead banks on the debt; Cablevision is a Bethpage, N.Y.-based telecommunications, media and entertainment company.

GENON ENERGY: $1.4 billion senior notes and $500 million term loan; to refinance $1.2 billion of debt at Mirant Corp. and $650 million of debt at RRI Energy Inc., in connection with the merger of Mirant and RRI, expected to close by the end of 2010; GenOn will be a Houston-based power producer.

GRIFOLS SA: $1.1 billion high-yield notes; also $3.4 billion credit facility (Ba3/BB) via Deutsche Bank, Nomura, BBVA, BNP Paribas, HSBC and Morgan Stanley, expected to launch during July 2010; to help fund the company's acquisition of Talecris Biotherapeutics Holdings Corp.; Grifols is a Barcelona, Spain-based health care company and producer of plasma protein therapies. Talecris is a Research Triangle Park, N.C.-based biotherapeutics products company.

HAWKEYE GROWTH LLC (HAWKEYE RENEWABLES): Up to $150 million first-lien notes; PrinceRidge Group; proceeds, along with cash on hand, to refinance debt; Ames, Iowa-based ethanol producer.

NBTY INC.: $900 million of senior unsecured notes; Bank of America Merrill Lynch, with Barclays Capital Inc. and Credit Suisse; also new credit facility; to help fund the $3.8 billion LBO of the company by the Carlyle Group, expected to close by the end of 2010; Ronkonkoma, N.Y.-based manufacturer and marketer of nutritional supplements.

MULTIPLAN INC.: $675 million notes; Bank of America Merrill Lynch, Barclays Capital Inc., Credit Suisse; also $1.375 billion new credit facility; to help fund the buyout by BC Partners and Silver Lake from the Carlyle Group and Welsh, Carson, Anderson & Stowe; New York-based provider of health care cost management solutions.

RADIO ONE, INC.: $100 million senior notes due 2017 (Caa2/CCC+); to finance the purchase of an increased stake in TV One; also new $400 million credit facility, via Deutsche Bank Securities Inc.; Lanham, Md.-based radio broadcaster targeting African American audiences in urban communities.

ROADSHOWS

Starts July 27: TURBO BETA PLC (KCA DEUTAG DRILLING GROUP LTD.) $500 million; Goldman Sachs & Co.

Starts July 27: MARINA DISTRICT FINANCE CO., INC. (BORGATA) $725 million; Bank of America Merrill Lynch, Wells Fargo Securities, J.P. Morgan Securities Inc., Barclays Capital Inc., RBS Securities Inc., UBS Investment Bank.

Pricing early Aug. 2 week: TRILOGY INTERNATIONAL PARTNERS LLC and TRILOGY INTERNATIONAL FINANCE INC. $370 million; Goldman Sachs & Co.

July 28-Aug. 5: ENERGYSOLUTIONS, INC. and ENERGY SOLUTIONS, LLC $300 million; J.P. Morgan Securities Inc., Credit Suisse, Citigroup Global Markets Inc.


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