High Yield Calendar: $5.44 billion deals being marketed

May 14 week

MOMENTIVE PERFORMANCE MATERIALS, INC.: $500 million 1.5 lien 8.5-year senior secured notes (B2/B-); J.P. Morgan Securities LLC, BMO Securities, Bank of America Merrill Lynch, Citigroup Global Markets, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co., Morgan Stanley & Co., UBS Investment Bank (joint); Rule 144A and Regulation S with registration rights; callable after 3.5 years at par plus 75% of coupon; use of proceeds (including upsize) to repay first-lien bank debt, tender for entire $200 million 12½% second-lien notes at 107.25 (cleanup call will be issued for bonds not tendered), and general corporate purposes; Columbus, Ohio-based producer of thermoset resins; price talk 9¼% area.

AERCAP AVIATION SOLUTIONS BV: $300 million senior notes due 2017 (/BB+/BBB-); Citigroup Global Markets (left books), UBS Investment Bank (joint books), KKR Capital Markets, Credit Agricole CIB (co's); Rule 144A and Regulation S with registration rights; non-callable; 101% poison put; to acquire, invest in, finance or refinance aircraft assets; and for other general corporate purposes, which will include the repayment of the company's E note facilities; Amsterdam-based integrated aviation company; price talk 6¼% to 6½%; pricing Thursday morning.

GENERAC POWER SYSTEMS INC.: $425 million senior notes due 2020 (expected ratings Caa1/B-); J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Goldman Sachs & Co. (joint); Rule 144A and Regulation S with registration rights; callable after three years at par plus 75% of coupon; to pay a special cash dividend of up to $10 per share (approximately $679.5 million) and to repay existing credit facility; Waukesha, Wis.-based designer and manufacturer of generators and other engine powered products; roadshow started May 14; pricing expected May 18.

HARLAND CLARKE HOLDINGS CORP. $295 million senior secured notes due 2019; Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Bank of America Merrill Lynch, Deutsche Bank Securities Inc., Jefferies & Co. Inc., UBS Securities, Natixis (joint); Rule 144A and Regulation S for life; callable after three years at par plus 75% of coupon; three-year 35% equity clawback; 101% poison put; to repay debt; San Antonio-based provider of integrated payment, marketing and security services and retail products; roadshow started May 14; pricing late May 14 week.

CONSOLIDATED COMMUNICATIONS FINANCE CO.: $350 million senior notes due 2020; Morgan Stanley & Co. LLC (sole); Rule 144A with registration rights; non-callable for four years; to finance the SureWest Communications acquisition and refinance SureWest debt; Mattoon, Ill.-based communications company; roadshow started May 14; pricing late May 14 week.

MOLYCORP, INC.: $650 million senior secured notes due 2020; Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC (joint), Knight Capital, Dahlman Rose, Baird, CIBC World Markets, Natixis, Piper Jaffray, Scotia Capital, ThinkEquity LLC (co's); Rule 144A with registration rights; non-callable for four years; to finance a portion of the cash purchase price of the Neo Materials acquisition; Greenwood Village, Colo.-based producer of rare earth oxides, rare earth metals, rare earth alloys and rare metals; pricing late May 14 week.

QR ENERGY, LP and QRE FINANCE CORP.: $300 million senior notes due 2020 (Caa1); Citigroup (left books), Barclays Capital, Credit Agricole CIB, RBC Capital Markets, RBS Securities Inc., Wells Fargo Securities LLC (joint books), Bank of America Merrill Lynch, BMO, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Scotia Capital, BBVA, Capital One, Comerica, TD Securities, Mitsubishi UFJ Securities, US Bancorp (co's); Rule 144A and Regulation S with registration rights; non-callable for four years; 101% poison put; repay debt under the revolver; Houston-based upstream master limited partnership focused on the exploitation of onshore oil and gas field; roadshow May 14-18, pricing thereafter.

KAISER ALUMINUM CORP.: $200 million senior notes due 2020 (expected ratings Ba3/BB-); J.P. Morgan Securities LLC (books), Wells Fargo Securities LLC (left lead co), Bank of America Merrill Lynch, UBS Investment Bank (co's); Rule 144A and Regulation S with registration rights; non-callable for four years; for general corporate purposes; Foothill Ranch, Calif.-based producer of semi-fabricated specialty aluminum products; roadshow started May 14; pricing expected May 18.

HUDBAY MINERALS INC.: $400 million senior notes due 2020 (expected ratings B3/B); Bank of America Merrill Lynch (sole books), CIBC World Markets, Scotia Capital, TD Securities, Credit Suisse Securities (USA) LLC, RBC Capital Markets, NBCF, SG CIB, Cormark, GMP, Macquarie, Stifel, Nicholas (co's);Rule 144A and Regulation S for life; non-callable for four years; 101% poison put; for general corporate purposes, development projects in Manitoba and, if approved, the development of the Constancia project; Toronto-based integrated mining company producing copper concentrate; roadshow through May 18.

OPI INTERNATIONAL: $155 million first-lien senior secured notes due 2017; Global Hunter Securities; non-callable for three years; to help fund the acquisition of offshore construction vessels and refinance debt; Houston-based services provider to the offshore oil and gas industry; roadshow started April 24; price talk 13% area with warrants for 17% of the company.

May 21 week

NGPL PIPECO LLC: $550 million senior secured notes due 2019 (Ba3/B+/BB-); Barclays Capital Inc. (lead left), Credit Suisse Securities (USA) LLC, RBC Capital Markets LLC (joint books); Rule 144A and Regulation S for life; callable after three years at par plus 75% of coupon; to refinance notes due 2012; Houston-based natural gas transportation and storage company; roadshow May 17-21; pricing May 21.

UNIVAR INC.: $750 million senior notes due 2019; Goldman Sachs & Co., Bank of America Merrill Lynch, Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, Deutsche Bank Securities Inc.; non-callable for three years; also new $750 million bank loan; to fund a distribution to shareholders and refinance debt; Redmond, Wash.-based distributor of industrial and specialty chemicals; roadshow started May 16; pricing middle of May 21 week.

ROOFING SUPPLY GROUP LLC: $200 million senior notes due 2020; Goldman Sachs & Co., Deutsche Bank Securities Inc., UBS Investment Bank, Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. (joint); non-callable for three years; also $465 million credit facility; to help fund the purchase of the company by Clayton, Dubilier & Rice LLC from the Sterling Group; Dallas-based wholesale distributor of roofing supplies and related materials; pricing expected during May 21 week.

GLOBAL BRASS & COPPER HOLDINGS INC.: $375 million senior secured notes due 2019; Goldman Sachs & Co., Morgan Stanley & Co. (joint); non-callable for three years; to refinance the existing term loan and pay a dividend; Schaumburg, Ill.-based converter, fabricator, distributor and processor of specialized copper and brass products; pricing expected middle of May 21 week.

Expected May business

MEDIA GENERAL INC.: $225 million minimum senior notes; J.P. Morgan Securities LLC, Bank of America Merrill Lynch (joint); $190 million to be used to repay amounts outstanding under the existing credit facility and a to-be-determined amount will be used to fund a liquidity account (term loan maturity extension announced on March 20 was conditioned upon the company's ability to raise $225 million in the high-yield market by May 25, 2012); Richmond, Va.-based diversified media company.

WOLVERINE HEALTHCARE ANALYTICS: $325 million senior notes due 2020 (Caa1/CCC+); J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Morgan Stanley & Co., UBS Investment Bank; to fund the buyout of the company by Veritas Capital for $1.25 billion in cash from Thomson Reuters; provider of data, analytics and performance benchmarking services to hospitals, health systems, employers, health plans, government agencies and health care professionals.

AGS HOLDINGS, LLC and AGS FINANCING CORP. (AMERICAN GAMING SYSTEMS INC.): $150 million senior secured notes due 2017; Credit Suisse (books); Rule 144A for life; non-callable for 2.5 years; three-year 35% equity clawback; 101% poison put; to refinance existing debt and fund the buyout of the Bluberi Gaming Technologies development agreement; Henderson, Nev.-based provider of equipment and services to the gaming industry.

ALIMAK HEK INC.: Possible notes offering; SEB Enskilda, Handelsbanken; Stockholm-based manufacturer of industrial lifts.

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.

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; Energy Transfer is a Dallas-based oil and gas pipeline company.

FOUR SEASONS HEALTH CARE: £525 million high-yield bonds; Barclays plc, Goldman Sachs International; to help fund the £825 million LBO of the company by Terra Firma Capital Partners Ltd., expected to close during the first half of 2012; Wilmslow, England-based care home operator.

FRESENIUS SE & CO. KGAA: €5.3 billion of secured and unsecured debt including notes; Deutsche Bank, JPMorgan, Societe Generale, Credit Suisse, UniCredit; to help fund the public takeover offer to Rhon-Klinikum AG shareholders, expected to close in the third quarter of 2012, and refinance a credit facility that was obtained in 2008 for the acquisition of APP Pharmaceuticals; Bad Homburg, Germany-based provider of dialysis services and products.

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. LLC, 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.

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.

HOLOGIC INC.: $500 million unsecured notes and $3.3 billion credit facility led by Goldman Sachs & Co.; to fund the $3.7 billion, $82.75 per share, acquisition of Gen-Probe Inc., expected to close during the second half of 2012; Hologic is a Bedford, Mass.-based developer medical diagnostic systems developer and manufacturer; Gen-Probe is a San Diego-based molecular diagnostics developer and manufacturer.

M&G FINANCE CORP.: $200 million to $300 million senior secured notes due 2019 (expected B3//BB), downsized from $500 million; J.P. Morgan Securities LLC (sole); Rule 144A and Regulation S for life; non-callable (call protection increased from 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; price talk 10% coupon to yield 12% at an issue price of approximately 90.00.

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.

P.F. CHANG CHINA BISTRO INC.: New high-yield bonds and credit facility to help fund the approximately $1.1 billion LBO by Centerbridge Partners LP, which is expected to begin a tender for shares no later than May 15, 2012 (transaction expected to close in the third quarter of 2012); Deutsche Bank Securities Inc. and Wells Fargo Securities LLC are leading the financing; Scottsdale, Ariz.-based owner and operator of two restaurant concepts in the Asian niche.

ZAYO GROUP LLC $1.25 billion: $750 million senior secured notes and $500 million senior unsecured notes; also $1.75 billion credit facility; Morgan Stanley Senior Funding Inc. and Barclays Capital Inc. (joint), SunTrust Robinson Humphrey Inc., UBS Securities LLC, RBC Capital Markets LLC, Goldman Sachs & Co.; to fund the acquisition of AboveNet Inc., expected to close by the middle of 2012; financing also includes $290 million of equity from GTCR and Charlesbank Capital Partners and cash on hand; Zayo is a Louisville, Colo.-based provider of fiber-based bandwidth infrastructure and network-neutral colocation and interconnection services.

Roadshows

Started May 14: GENERAC POWER SYSTEMS $425 million; JPMorgan, Bank of America Merrill Lynch, Goldman Sachs.

Started May 14: HARLAND CLARKE HOLDINGS $295 million; Credit Suisse, Citigroup, Bank of America Merrill Lynch, Deutsche Bank, Jefferies, UBS, Natixis.

Started May 14: CONSOLIDATED COMMUNICATIONS $350 million; Morgan Stanley.

Started May 14: KAISER ALUMINUM $200 million; JPMorgan.

Pricing late May 14 week: MOLYCORP; Morgan Stanley, Credit Suisse.

May 14-18: QR ENERGY $300 million; Citigroup, Barclays, Credit Agricole, RBC, RBS, Wells Fargo.

Through May 18: HUDBAY MINERALS $400 million; Bank of America Merrill Lynch.

Started May 16: UNIVAR $750 million; Goldman Sachs, Bank of America Merrill Lynch, Morgan Stanley, Wells Fargo, Deutsche Bank.

Pricing May 21 week: ROOFING SUPPLY $200 million; Goldman Sachs, Deutsche Bank, UBS, Credit Suisse, Citigroup.

May 17-21: NGPL PIPECO $550 million; Barclays, Credit Suisse, RBC.

Pricing middle of May 21 week: GLOBAL BRASS & COPPER $375 million; Goldman Sachs, Morgan Stanley.

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