High Yield Calendar: $4.945 billion and €950 million deals being marketed

February 6 Week

CAESARS OPERATING ESCROW LLC and CAESARS ESCROW CORP.: $1.25 billion senior secured notes due 2020 (B2/B/B); J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC; Rule 144A and Regulation S with contingent registration rights; non-callable for four years; to repay bank debt and for general corporate purposes; Las Vegas-based gaming and entertainment company; price talk 8½% area; pricing Thursday.

KINETIC CONCEPTS, INC. and KCI USA, INC.: $750 million 12½% senior notes due Nov. 1, 2019 (Caa1/CCC+); Morgan Stanley & Co. LLC, Bank of America Merrill Lynch, Credit Suisse Securities (USA) LLC, RBC Capital Markets (joint), UBS Securities LLC (co); Rule 144A and Regulation S with registration rights; callable on Nov. 1, 2015 at 106.25; 35% equity clawback at 112.50 until Nov. 1, 2014; to help fund the buyout of the company by Apax Partners, Canada Pension Plan Investment Board and the Public Sector Pension Investment Board; San Antonio-based medical technology company; notes were sold to the underwriters in October 2011, at which time a $1.75 billion issue of 10½% second-lien senior secured notes due Nov. 1, 2018 was successfully syndicated; price talk 12 ¾% area at 98.75; books close 10 a.m. ET Thursday.

ENDEAVOUR INTERNATIONAL CORP.: $500 million senior notes due 2020 (expected ratings Caa1/CCC); Citigroup Global Markets Inc. (books), BNP Paribas (lead manager), FBR, Global Hunter Securities, Imperial Capital, Wunderlich (co-managers); Rule 144A with registration rights; non-callable for four years; three-year 35% equity clawback; 101% poison put; to fund the acquisition of ConocoPhillips' interest in three producing U.K. oil fields in the Central North Sea and to retire existing term loan debt, expected to close during the first half of 2012; Endeavour is an oil and gas exploration and production company; price talk 11½% area.

POLKOMTEL SA: $200 million 8.5-year PIK notes (Caa1/B-); Deutsche Bank AG, Credit Agricole CIB, Royal Bank of Scotland, SG CIB; non-callable for two years; to repay PIK bridge backing the $5.5 billion equivalent acquisition of Polkomtel by investor Zygmunt Solorz-Zak; Poland's second-largest mobile-phone company, based in Warsaw; pricing Thursday.

NUMERICABLE FINANCE & CO. SCA: €350 million senior secured notes due 2019 (confirmed B2/expected B); J.P. Morgan (physical books), Goldman Sachs & Co., BNP Paribas, Credit Agricole, HSBC (joint books), ING (co); Rule 144A and Regulation S for life; non-callable for four years; to refinance debt; French cable operator; European roadshow Feb. 6-9; calls for investors in the United States; price talk 13% area; pricing Thursday.

M&G FINANCE CORP.: $500 million senior secured notes due 2019 (expected B3//BB); J.P. Morgan Securities LLC (sole); Rule 144A and Regulation S for life; non-callable for four years; to finance construction of new PET and PTA production facilities, pay back intercompany debt and fund working capital; Houston-based Mossi & Ghisolfi (M&G) produces polyethylene terephthalate (PET) resin for packaging applications.

VERISURE HOLDING AB (SECURITAS DIRECT): €600 million series A senior secured notes due September 2018; Morgan Stanley (bill and deliver, global coordinator, joint bookrunner), Goldman Sachs International (global coordinator, joint bookrunner), Bank of America Merrill Lynch, HSBC, Nomura, Nordea (joint books); Rule 144A and Regulation S for life; callable in September 2014 at par plus ¾ coupon; to refinance debt used to acquire Securitas Direct; Malmo, Sweden-based provider of monitored home alarms; roadshow Feb. 3-7 in Europe, Feb. 8-10 in the United States.

LONE PINE RESOURCES CANADA, LTD.: $200 million senior notes due 2017; Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Scotia Bank; Rule 144A and Regulation S with registration rights; non-callable for three years; three-year 35% equity clawback; 101% poison put; to repay existing debt; Calgary, Alta.-based oil and gas exploration, development and production company; roadshow started Feb. 6; pricing Feb. 6 week.

CIRCUS AND ELDORADO JOINT VENTURE: $120 million senior secured notes due 2020; Deutsche Bank Securities Inc. (sole); Rule 144A and Regulation S; to fund the tender offer for the 10 1/8% mortgage notes due 2012; Reno, Nev.-based joint venture of affiliates of MGM Resorts International and Eldorado Resorts LLC; roadshow Feb. 7-10.

PACIFIC DRILLING SA: $300 million senior notes; Pareto Securities, DnB NOR Markets, RS Platou Markets (joint lead managers and joint bookrunner); Fearnley Fonds, Nordea Markets, SEB Enskilda (co's); private placement; to fund working capital and company growth and general corporate purposes; ultra-deepwater drilling services provider to the oil and natural gas industry, formed in Luxembourg, with operational headquarters in Houston; full roadshow announced Feb. 6.

February 13 Week

STATION CASINOS, LLC: $625 million senior step-up notes due June 18, 2018 (/CCC+/), coupon begins at 3.65%, then steps up annually to 3.65%, 3.66%, 3.67%, 4.87%, 7.22% and 9.54%; 1% duration fee payable on June 1, 2016 and June 19, 2017; Deutsche Bank Securities Inc., J.P. Morgan Securities LLC (joint); Rule 144A with registration rights; callable on Dec. 31, 2012 at par; 100% poison put; financing related to the company's exit from Chapter 11 in June 2011; roadshow Feb. 8-13; pricing early Feb. 13 week.

CORE EDUCATION AND CONSULTING SOLUTIONS, INC.: $200 million guaranteed senior notes due 2017 (mid-to-high single B ratings expected); Barclays Capital Inc., Jefferies & Co. (joint), BMO Securities, Standard Chartered Bank (co's); Rule 144A and Regulation S for life; non-callable for three years; customary high-yield covenants; to redeem preferred shares (proceeds will be used to repay rupee debt and for general corporate purposes, including funding capital expenditures in India), repay debt and for general corporate purposes; Atlanta-based provider of technology-enabled education products, services and solutions to the education sector; roadshow starts Feb. 8; pricing early-to-mid Feb. 13 week.

CENTER PARCS GROUP: Sterling-denominated class B senior secured bonds (/BB+/B+) also sterling-denominated class A senior secured bonds (/BBB/BBB); Royal Bank of Scotland (global coordinator and joint bookrunner), Barclays Capital, HSBC, Lloyds Bank (joint bookrunners); Newark, England-based provider of fully self-contained forest village short-break holidays; investor meetings in United Kingdom Feb. 8-15; to launch and price thereafter, subject to market conditions.

MMI INTERNATIONAL LTD. $300 million senior secured notes due 2017 (expected ratings Ba3/BB-/B+); J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, UBS Securities LLC (joint), ING, KKR Capital Markets, Mizuho Securities USA Inc., Natixis Securities (co's); Rule 144A and Regulation S for life; non-callable for three years; to repay debt; Singapore-based precision engineering company; U.S. roadshow Feb. 13-17.

Expected First Quarter of 2012

ACCO BRANDS CORP.: $270 million senior notes and $920 million credit facility; Barclays Capital Inc., Bank of America Merrill Lynch and BMO Capital Markets Corp.; to fund its merger with MeadWestvaco's office supplies business, to repay ACCO's 10 5/8% senior secured notes and for ongoing working capital; ACCO Brands is a Lincolnshire, Ill.-based office supply manufacturer; merger expected to close during the first half of 2012.

GLOBALIVE WIRELESS MANAGEMENT CORP.: Up to $1 billion equivalent in U.S. dollar- and Canadian dollar-denominated notes; Credit Suisse Securities (USA) LLC, Morgan Stanley & Co., BMO Capital Markets Corp.; Rule 144A; to fund expansion of its wireless network and for general corporate purposes; Toronto-based wireless communications services provider; expected during first quarter of 2012.

KB HOME: $250 million debt securities to fund tender for up to $250 million of its 5¾% senior notes due 2014, its 5 7/8% senior notes due 2015 and its 6¼% senior notes due 2015, Citigroup Global Markets, Inc. and Credit Suisse Securities (USA) LLC dealer managers, early tender date Jan. 31, 2012; Los Angeles-based homebuilder.

UNITED RENTALS INC. $2.2 billion: $650 million senior secured notes and $1.55 billion senior unsecured notes; Morgan Stanley Senior Funding Inc., Bank of America Merrill Lynch and Wells Fargo; to help fund the acquisition of RSC Holdings Inc., closing expected in the first half of 2012; United Rentals is a Greenwich, Conn.-based equipment rental company; bridge syndication expected in January; bonds expected in March or April.

On the Horizon

CKX ENTERTAINMENT, INC.: $360 million senior secured second-lien notes due 2019 (/B-/); Goldman Sachs & Co. (left books), Macquarie Group Ltd. (joint books); Rule 144A and Regulation S; non-callable for four years; to fund the purchase of common stock and repay existing credit facility; New York City-based owner and developer of entertainment content; possible business for the first quarter of 2012.

CONSOLIDATED COMMUNICATIONS HOLDINGS INC.: $350 million senior notes; to take out bridge loan backing the acquisition of Roseville, Calif.-based communications services provider SureWest Communications; Morgan Stanley Senior Funding Inc. is leading the debt financing; Mattoon, Ill.-based communications company; acquisition expected to close in the fourth quarter of 2012.

CREATIVE CASINOS, INC.: $365 million senior secured notes due 2019, non-callable for four years; Jefferies & Co. Inc., Morgan Stanley & Co., Capital One Southcoast (joint) also $103.093 million senior redeemable perpetual preferred stock, non-callable for two years; Jefferies, Morgan Stanley (joint); Rule 144A and Regulation S with registration rights; to fund construction of a new casino and hotel located in Lake Charles, La.; Las Vegas-based gaming, lodging and entertainment company.

DIAMOND FOODS INC.: $300 million notes; also $1.75 billion credit facility; Bank of America Merrill Lynch; to help fund merger with Pringles Co., expected to close by the end of 2011; Diamond Foods is a San Francisco-based packaged food company. Pringles is a potato crisp brand.

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 oil and gas exploration and production company.

ENERGY TRANSFER EQUITY, LP: $3.2 billion high-yield bonds to help complete the $7.9 billion merger of Energy Transfer and Southern Union Co., including repayment of $3.7 billion of Southern Union debt, expected to close in the first quarter of 2012; Energy Transfer is a Dallas-based oil and gas pipeline company.

GREENFIELD ETHANOL INC.: C$175 million of five-year senior second-lien notes (/B+//DBRS: B); Scotia Capital Inc. (lead); Macquarie Capital Markets Canada Ltd., Societe Generale (Canada) and TD Securities Inc. (co-managers); non-callable for three years, 101% change-of-control put; equity clawback for up to 35% in first three years; Canada call at 50 bps over Canadian government benchmark; guarantors GreenField Ethanol (Johnstown) Inc.; GreenField Ethanol (Hensall) Inc.; GreenField Hensall LP; GreenField Hensall GP Inc.; Pharmco Products Inc.; Aaper Alcohol and Chemical Co., Aaper Holdings Inc.; GreenField Ethanol of Quebec Inc. and all future restricted subsidiaries of GreenField.; proceeds to repay debt, to terminate existing interest rate swap agreements and for general corporate purposes; Ontario-based GreenField Ethanol is Canada's largest ethanol company.

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.

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

SPIE: Expected €300 million to €400 million notes; Morgan Stanley, HSBC, SG CIB, Credit Agricole CIB, Deutsche Bank; proceeds along with approximately €1 billion of bank debt to help fund the LBO of the company by Clayton Dubilier & Rice, Axa Private Equity and Caisse de Depot et Placement du Quebec from PAI Partners from PAI Partners; France-based mechanical engineering firm; LBO closed on Aug. 30; bridge loan funded as leads await opportunity to sell the bonds.

TRINSEO MATERIALS OPERATING SCA: $450 million six-year senior notes (B3/B), non-callable for three years (structure changed from seven-year non-call-four); Barclays Capital Inc. (left lead), Deutsche Bank Securities Inc., BMO Securities, Citigroup Global Markets Inc., Goldman Sachs & Co., HSBC; Rule 144A and Regulation S with registration rights; non-callable for four years; to repay bank debt and for general corporate purposes; diversified chemical company; price talk 12¼% area, including about 3 points of OID; roadshow was in late November 2011; likely business for the first quarter of 2012.

WII COMPONENTS, INC.: New subordinated notes and new credit facility; to fund a tender offer and consent solicitation for its $105.85 million of 10% senior notes due 2012, consent deadline July 7, 2011; St. Cloud, Minn., cabinet manufacturer.

Roadshows

Started Feb. 3: VERISURE HOLDING AB (SECURITAS DIRECT) €600 million; Morgan Stanley, Goldman Sachs International, Bank of America Merrill Lynch, HSBC, Nomura, Nordea.

Started Feb. 6: LONE PINE RESOURCES CANADA, LTD. $200 million; Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Scotia Bank.

Started Feb. 6: PACIFIC DRILLING SA $300 million; Pareto Securities, DnB NOR Markets, RS Platou Markets.

Starts Feb. 8: CORE EDUCATION AND CONSULTING SOLUTIONS, INC. $200 million; Barclays Capital Inc., Jefferies & Co.

Feb. 8-13: STATION CASINOS, LLC $625 million; Deutsche Bank Securities Inc., J.P. Morgan Securities LLC.

Feb. 8-15: CENTER PARCS GROUP; Royal Bank of Scotland, Barclays Capital, HSBC, Lloyds Bank.

Feb. 13-17: MMI INTERNATIONAL LTD. $300 million; J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, UBS Securities LLC.

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