High Yield Calendar: $2.025 billion being marketed

APRIL 25 WEEK

LEE ENTERPRISES, INC. $1.05 billion senior secured notes: $675 million first-lien notes due 2017 (B3/B) and $375 million second-lien notes due 2018 (Caa2/CCC+) with warrants; Credit Suisse Securities, Deutsche Bank Securities Inc. (joint); Rule 144A and Regulation S with registration rights; both tranches non-callable for three years (special call allows issuer to redeem 10% of the first-lien notes annually at 103 during the non-call period); 101% poison put for both tranches; to refinance existing Pulitzer notes, revolver and term loan A; Davenport, Iowa-based newspaper publisher; roadshow April 11 week.

BUILDERS FIRSTSOURCE, INC.: $250 million senior secured first-priority notes due 2019 (Caa2/CCC); UBS Investment Bank (lead left), Goldman Sachs & Co., Wells Fargo Securities (joint books), SunTrust Robinson Humphrey Inc. (co); Rule 144A and Regulation S with registration rights; non-callable for four years; to redeem the second-priority senior secured floating-rate notes due 2016, as well as outstanding floating-rate notes due 2012, to repay revolver, for working capital and for general corporate purposes; Dallas-based building products company; roadshow started April 5.

IASIS HEALTHCARE LLC: $935 million senior notes due 2019 (Caa1); Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC; Rule 144A and Regulation S; to refinance existing credit facilities, to fund a cash tender offer for the 8¾% senior subordinated notes, to repay senior PIK loans, for general corporate purposes including the proposed acquisition of St. Joseph Medical Center, for future acquisitions and for strategic growth initiatives, as well as potential distributions to equity holders; Franklin, Tenn.-based owner and operator of medium-sized acute care hospitals in high-growth urban and suburban markets; expected to launch April 25 week.

IPAYMENT INC.: $525 million (Caa1/CCC+): $375 million seven-year senior notes by iPayment Inc., J.P. Morgan Securities LLC, Merrill Lynch, RBC Capital Markets LLC (joint books), UBS Securities LLC (co-manager); $150 million offering of units consisting of 7.5-year senior payment-in-kind toggle notes and 150,000 equity warrants by iPayment Holdings, Inc.; J.P. Morgan Securities LLC (books); both tranches: Rule 144A and Regulation S; non-callable for four years; Nashville-based credit- and debit-card transaction processor will use proceeds together with borrowings under a proposed new $375 million six-year senior secured credit facility, to repay all of its existing senior secured credit facility borrowings and to redeem its 9¾% senior subordinated notes due 2014, and to make a distribution to indirect corporate parent iPayment Investors, LP to redeem all of its existing PIK toggle notes; subject to conditions, iPayment Investors also plans to redeem all of the equity interests in the limited partnership and its general partner held by Gregory S. Daily, iPayment's chairman and chief executive officer since 2001, and by entities controlled by him or in trust for his family members; pricing April 28.

MAY 2 WEEK

SATELITES MEXICANOS SA DE CV: $325 million senior secured notes due 2017 (B3); Jefferies & Co., Inc.; Rule 144A/Regulation S; non-callable for three years; to redeem existing first-lien notes and to fund Satmex 8 program; Mexico City-based satellite service provider; roadshow April 18-May 3; U.S. roadshow begins April 25 week.

EXPECTED APRIL BUSINESS

CUMULUS MEDIA INC.: $500 million senior notes, also $2.525 billion credit facility; J.P. Morgan Securities LLC, UBS Investment Bank and Macquarie Capital; to help fund its acquisition of Citadel Broadcasting Corp. (expected to close by the end of 2011), and refinance outstanding debt of Cumulus, Citadel and Cumulus Media Partners LLC; financing also includes $500 million of equity from Crestview Partners and Macquarie Capital; Cumulus Media is an Atlanta-based radio broadcaster; expected April business.

NEWLEAD HOLDINGS LTD.: $120 million senior secured bonds due 2016; Rule 144A and Regulation S; to finance certain vessel purchase commitments, to refinance the debt of certain vessels and for general corporate purposes; Piraeus, Greece-based international, vertically integrated mixed fleet shipping company.

RURAL/METRO CORP.: New high-yield bonds and credit facility; Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and Jefferies & Co. are leading the financing; to help fund the acquisition of the company by Warburg Pincus; Scottsdale, Ariz.-based provider of emergency and non-emergency ambulance services and private fire protection services; expected during first half of April.

NORWEGIAN ENERGY CO. ASA (NORECO): NOK 550 million to 600 million senior secured bonds due 2016; First Securities, Pareto Securities (joint managers), SEB Merchant Banking (co-manager) for financing of Noreco's share of the costs associated with the Oselvar development and other petroleum activities on the Norwegian continental shelf; Stavanger, Norway-based energy company.

EXPECTED MAY BUSINESS

EMERGENCY MEDICAL SERVICES CORP.: $950 million senior notes; also $1.725 billion credit facility; debt financing to be led by Barclays Capital Inc., Deutsche Bank Securities Inc., Merrill Lynch, Morgan Stanley & Co. Inc., RBC Capital Markets, UBS Investment Bank; proceeds, along with equity, to fund buyout of the company by Clayton, Dubilier & Rice LLC; Greenwood Village, Colo.-based provider of health care transportation services and outsourced physician services to health care facilities; expected to launch in April 2011.

ON THE HORIZON

ALPHA NATURAL RESOURCES INC.: Up to $1.7 billion senior notes, also $1.6 billion credit facility; Citigroup and Morgan Stanley are leading the credit facility and the bridge financing; proceeds, along with cash on hand, to fund the acquisition of Massey Energy Co., expected to close mid-2011, refinance $1.4 billion of Massey debt and refinance existing debt at Alpha, including its term loan A; Abingdon, Va.-based Alpha Natural Resources and Richmond, Va.-based Massey are coal companies.

AMC NETWORKS INC. (RAINBOW MEDIA HOLDINGS LLC): New senior notes and senior secured credit facility to finance the spin-off from Cablevision Systems Corp., expected to be completed by mid-2011; proceeds to refinance all existing debt at Rainbow Media as well as to repay $1.25 billion of Cablevision and/or CSC Holdings LLC debt, and for general corporate purposes; Bethpage, N.Y.-based telecommunications, media and entertainment company.

AMERICAN TOWER CORP.: Expected issue of high-yield notes, as part of a refinancing of bank debt maturing in 2012; Boston-based wireless and broadcast communications infrastructure company.

DNO INTERNATIONAL ASA: $200 million to $300 million senior secured bonds due 2016; Pareto Securities AS, ABG Sundal Collier ASA and Fearnley Fonds ASA; for general corporate purposes; Oslo, Norway, oil and gas exploration and production company.

DUOCOMMUN INC.: $200 million senior notes; UBS Securities LLC and Credit Suisse Securities (USA) LLC (joint); also $240 million credit facility; to fund its acquisition of LaBarge Inc., expected to close in the second quarter of 2011, and repay debt; Ducommun is a Carson, Calif.-based provider of engineering and manufacturing services to the aerospace and defense industry.

ENDO PHARMACEUTICALS: New bonds and bank debt via Morgan Stanley and Merrill Lynch; to help fund its acquisition of American Medical Systems, expected to close in third quarter of 2011; Endo is a Chadds Ford, Pa.-based specialty health care company.

EPICOR SOFTWARE CORP.: $465 million senior notes due in 2019 and $945 million credit facility; Merrill Lynch and RBC Capital Markets LLC; to help fund its purchase, and the acquisition of Activant Solutions Inc., by Apax Partners, expected to close during second quarter of 2011; Epicor is an Irvine, Calif.-based provider of enterprise business software services.

GALA CORAL GROUP, LTD.: Up to £600 million senior notes with minimum seven-year tenor; Goldman Sachs & Co. and Royal Bank of Scotland expected to be involved; to repay senior secured bank loans; Nottingham, England-based gaming and off-track betting company; expected early 2011 business.

HECKLER & KOCH GMBH: Expected €100 million notes with five-year to seven-year maturity; Close Brothers Seydler Bank; proceeds, along with liquidity from other assets, to refinance the existing €120 million 9¼% notes due July 15, 2011; Oberndorf, Germany-based small-arms maker; proceeds, along with liquidity from other assets, to refinance its existing €120 million 9¼% notes due July 15, 2011; expected to be completed by the end of the second quarter of 2011.

INTERNATIONAL WIRE GROUP, INC.: $110 million senior secured notes due 2015; to fund one-time distribution to stockholders and option holders; consent solicitation via Wells Fargo Securities, LLC expires on April 1; Camden, N.Y.-based electrical wire manufacturer.

KINDRED HEALTHCARE INC.: $550 million senior notes; part of debt financing for planned acquisition of RehabCare Group, Inc., expected to close June 30, 2011; also includes $1.3 billion credit facility; J.P. Morgan Securities LLC, Morgan Stanley, Citigroup are lead banks for financing; Kindred Healthcare is a Louisville, Ky.-based health-care services company.

KRUGER INC.: Up to C$210 million PIK toggle notes (upsized from C$200 million); GMP Securities; project finance; Montreal-based paper products manufacturer.

LODGENET INTERACTIVE CORP.: Possible debt financing that could include bonds; to repay bank debt; Sioux Falls, S.D.-based provider of interactive media and connectivity services to the hospitality industry and interactive patient education, information and entertainment systems to health-care facilities; ($435 million six-year senior secured second-lien notes, B3/B/, via Merrill Lynch, J.P. Morgan Securities LLC, put on hold Sept. 28 as company announced it is seeking alternatives).

NAL OIL & GAS: C$150 million to C$250 million notes; RBC Capital Markets, BMO Nesbitt Burns; Calgary, Alta., trust acquires interests in Canada's upstream conventional oil and gas industry.

PREMIER FOODS PLC (Ba2/BB/BB): New high-yield bonds; to settle swap agreements, diversify sources of funding and reduce reliance on bank debt; St. Albans, England-based food producer; possibly launching during Feb. 21 week.

SI ORGANIZATION INC.: $175 million senior subordinated notes; J.P. Morgan Securities LLC; to help fund $815 million to help fund Veritas Capital's acquisition of Lockheed Martin Corp.'s Enterprise Integration Group; Valley Forge, Pa.-based provider of engineering, integration services, modeling, simulation, analysis and risk mitigation services to the U.S. intelligence community; possible early 2011 business.

SILGAN HOLDINGS INC.: $400 million senior subordinated notes (with the ability to issue $500 million senior notes) and $4 billion credit facility; Merrill Lynch; to help fund the acquisition of Graham Packaging Co. Inc., expected to close in the third quarter of 2011; Silgan is a Stamford, Conn.-based manufacturer of consumer goods packaging products.

VIKING RIVER CRUISES: Expected $200 million high-yield notes; Credit Suisse; Los Angeles-based river cruise line.

ROADSHOWS

April 18-May 3: SATELITES MEXICANOS SA DE CV (SATMEX) $325 million; Jefferies & Co., Inc.

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