High Yield Calendar: $2.95 billion and £500 million deals being marketed

Oct. 21 Week

BLACKBOARD INC.: $365 million senior notes (Caa1/CCC+/) due 2019; BofA Merrill Lynch (left), Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC; Rule 144A, Regulation S; non-callable for two years; proceeds to refinance the company's second-lien term loan; Washington, D.C.-based provider of enterprise software applications and related services to the education industry; roadshow Oct. 21-24.

GLP CAPITAL LP (GAMING AND LEISURE PROPERTIES, INC.) $2.05 billion non-callable senior notes (Ba1/BBB-): $550 million five-year notes, price talk 4½% to 4 5/8%, tightened from original guidance in the 4¾% area; $1 billion seven-year notes, price talk 5% to 5 1/8%, tightened from guidance in the 5¼% area; $500 million 10-year notes, price talk 5½% to 5 5/8%, tightened from guidance in the 5¾% area; BofA Merrill Lynch (left physical bookrunner, bill and deliver for all tranches); for the five-year and 10-year tranches J.P. Morgan Securities LLC, RBS Securities Inc. (joint physical books), Credit Agricole CIB, Fifth Third, Goldman Sachs & Co., Nomura, UBS Investment Bank, Wells Fargo Securities LLC (joint books); for the seven-year tranche RBS, Goldman Sachs (joint physical books), Credit Agricole, Fifth Third, JPMorgan, Nomura, UBS, Wells Fargo (joint books); Rule 144A with registration rights; all tranches feature Treasuries plus 50 bps make-whole call, and become callable at par 90 days prior to maturity; all tranches come with 101% poison puts; to help finance the spinoff of Gaming and Leisure from Penn National Gaming; issuer is a newly formed Wyomissing, Pa.-based real estate investment trust, which will own gaming assets throughout the United States; may price Tuesday.

EXOPACK HOLDING CORP.: $325 million six-year senior notes (Caa2/B-); Goldman Sachs & Co., J.P. Morgan Securities LLC, BofA Merrill Lynch, Barclays, Investec, Morgan Stanley; Rule 144A for life; non-callable for three years; to refinance debt and put cash on the balance sheet; Chicago-based manufacturer of plastic packaging products; roadshow Oct. 17 to Oct. 23.

DOLE FOOD CO. INC.: $275 million 5.5-year senior secured notes (expected Caa2); Deutsche Bank Securities Inc., BofA Merrill Lynch, Scotia Capital; Rule 144A for life; non-callable for two years; to help fund the purchase of the company by chairman and chief executive officer David H. Murdock; Westlake Village, Calif.-based fruit and vegetables company; roadshow Oct. 22-25.

DOMESTIC & GENERAL GROUP LTD. £500 million: £200 million seven-year senior secured fixed-rate notes, non-callable for three years, £150 million six-year senior secured floating-rate notes, non-callable for one year; £150 million eight-year senior unsecured notes, non-callable for three years; Goldman Sachs International (bill and deliver, joint global coordinator), Barclays, Credit Suisse (joint global coordinators), BNP Paribas, Morgan Stanley, SG CIB, UBS (joint books), Mizuho, Royal Bank of Scotland (co's); Rule 144A and Regulation S; proceeds, together with an equity contribution and cash held by the Domestic & General Group, to finance the acquisition by of Domestic & General Group Holdings Ltd. by CVC Capital Partners Ltd. from Advent International Corp., and repay debt; Bedworth, England-based home-appliance warranty provider; roadshow starts Oct. 21.

Expected October Business

ALLIANT TECHSYSTEMS INC.: $300 million senior notes; BofA Merrill Lynch; also $1.86 billion senior secured credit facilities via BofA Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ Ltd., RBC Capital Markets LLC, SunTrust Robinson Humphrey Inc., U.S. Bank NA and Wells Fargo Securities LLC, launched at an Oct. 8 bank meeting; to fund the acquisition of Bushnell Group Holdings Inc., refinance bank debt and for general corporate purposes; Alliant Techsystems is an Arlington, Va.-based aerospace, defense, and commercial products company.

TOWNSQUARE RADIO, LLC and TOWNSQUARE RADIO, INC.: $145 million add-on to the 9% senior notes due April 1, 2019; RBC Capital Markets; callable on April 1, 2015; Greenwich, Conn.-based owner and operator of FM and AM radio stations and websites serving small and mid-sized markets throughout the United States; commitments for the syndicated bridge loan due Oct. 4; deal expected to launch in October; original $265 million priced at 99 with to yield 9.197% in March 2012.

GARDA WORLD SECURITY CORP.: New senior notes; also approximately $825 million senior secured credit facility via RBC Capital Markets, BofA Merrill Lynch, TD Securities (USA) LLC and Mizuho Securities USA Inc., to launch at a bank meeting on Oct. 22; to refinance existing credit facility debt and senior unsecured notes due 2017 and fund the acquisition of G4S Cash Solutions for C$110 million; Montreal-based provider of business solutions and security services.

On The Horizon

BRAND ENERGY & INFRASTRUCTURE SERVICES INC.: $550 million senior notes; Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Goldman Sachs Bank USA, UBS Investment Bank help fund its acquisition by Clayton, Dubilier & Rice from First Reserve and merger with an infrastructure business that is being bought from Harsco Corp.; Atlanta-based provider of specialized industrial services to the energy and infrastructure sectors; deal expected to come before the end of the year.

BUENA VISTA GAMING AUTHORITY: $220 million eight-year senior secured notes; Credit Suisse Securities (USA) LLC, BofA Merrill Lynch (joint); Rule 144A and Regulation S for life; callable in four years at par plus 50% of the coupon; annual mandatory redemption offer of 50% of available funds starting at 103; 101% poison put; to fund construction of the Buenavue Casino; Ione, Calif.-based tribal gaming firm.

COMMUNITY HEALTH SYSTEMS INC. $4.58 billion bridged debt: $2.205 billion senior secured and $2.375 billion senior unsecured; BofA Merrill Lynch, Credit Suisse Securities (USA) LLC; to help fund its acquisition of Health Management Associates Inc., expected to close in the first quarter of 2014; Community Health is a Nashville, Tenn.-based hospital company. Health Management is a Naples, Fla.-based owner and manager of hospitals and ambulatory surgery centers.

DARLING INTERNATIONAL INC.: $1.3 billion bridge loan; also $2.55 billion credit facility via J.P. Morgan Securities LLC and Goldman Sachs Bank USA; to help fund the acquisition of Vion Ingredients, expected to close in January 2014; Darling is an Irving, Texas-based provider of rendering, recycling and recovery solutions to the food industry; Vion Ingredients is a Son en Breugel, the Netherlands-based developer and producer of specialty ingredients from animal origin for applications in pharmaceuticals, food, feed, pet food, fertilizer and bio-energy.

FTS INTERNATIONAL, INC.: $400 million secured notes to repay term loan; company is soliciting consents from holders of its 7 1/8% notes due 2018 to amendments to the indenture governing the notes; BofA Merrill Lynch and Citigroup Global Markets Inc. are the solicitation agents; provider of well completion services for the oil and gas industry with corporate offices in Fort Worth and Cisco, Texas.

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.

INTEGRATED MISSION SOLUTIONS LLC: $340 million senior secured notes backed by a $340 million senior secured bridge loan led by Jefferies LLC; also $70 million revolver; to fund the buyout of Michael Baker Corp., expected to close in the late in the third quarter or early in the fourth quarter; Integrated Mission Solutions, an affiliate of DC Capital Partners LLC, is a government contractor that provides engineering, construction, technical services, strategic consulting and other mission-critical services and solutions; Michael Baker is a Moon Township, Pa.-based provider of engineering, design, planning and construction services.

IONA ENERGY CO. (UK) LTD. (IONA ENERGY INC.): $250 million to $300 million callable senior secured bonds; Pareto Securities; to refinance credit facility, of which approximately $139 million is drawn, and to partially retire its existing structured energy derivative transaction, also to fund the delivery of its Orlando and Kells projects to first oil, as well as mature and accelerate its other pipeline of development opportunities; Calgary, Alta.-based oil and gas exploration, development and production company focused on oil and gas development in the United Kingdom's North Sea.

JARDEN CORP.: $795 million bonds and bank loans, sizes to be determined; to help fund its acquisition of Yankee Candle Investments LLC from Madison Dearborn Partners LLC for $1.75 billion in cash, expected to close early in the fourth quarter of 2013; Jarden is a Rye, N.Y.-based provider of consumer products; Yankee Candle is a South Deerfield, Mass.-based designer, manufacturer, wholesaler and retailer of scented candles.

JOS. A BANK CLOTHIERS INC.: Possible $1.9 billion senior notes and term loan borrowings; to help fund the acquisition of the the Men's Wearhouse Inc. (Men's Wearhouse rejected a $48 per share bid from JoS. A Bank Clothiers on Oct. 9, 2013); JoS. A. Bank is a Hampstead, Md.-based designer, manufacturer and retailer of men's clothing, sportswear, footwear and accessories.

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.

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.

ORIONSTONE PTY LTD.: $200 million seven-year secured notes (B3/B); non-callable for three years; Rule 144A for life; Morgan Stanley & Co. LLC bookrunner; proceeds to repay debt; Mackay, Australia-based supplier of heavy earthmoving rental equipment to the infrastructure, oil, gas and mining industries; expected September business.

RUE 21 INC.: $250 million senior notes backed by a bridge loan via J.P. Morgan Securities LLC, BofA Merrill Lynch, Goldman Sachs Bank USA; also $680 million facility; to help fund the purchase of the company by Apax Partners, expected to close by the end of 2013; Warrendale, Pa.-based retailer of girls' and guys' apparel and accessories.

SILVERLEAF RESORTS, INC.: $175 million senior secured notes due 2019; Deutsche Bank Securities Inc.; non-callable for three years; to pre-fund development of vacation ownership inventory, to refinance a portion of the company's existing debt, to pay a dividend to the sponsor; Dallas-based resort operator.

U.S. XPRESS ENTERPRISES, INC.: $250 million senior secured second-lien notes due 2020 (Caa1/B-); Wells Fargo Securities LLC (left books), Morgan Stanley & Co. LLC (joint books), Regions Securities LLC (co); Rule 144A and Regulation S with registration rights; callable in three years at par plus 75% of the coupon; to repay the existing senior secured credit facility, receivable securitization facility and other debt; Chattanooga, Tenn.-based truckload carrier and a diversified provider of truckload, intermodal and logistics services; price talk 9½% to 9¾%.

Roadshows

Pricing early Oct. 21 week: GAMING AND LEISURE PROPERTIES $2.05 billion; BofA Merrill Lynch, JPMorgan, RBS, Credit Agricole, Fifth Third, Goldman Sachs, Nomura, UBS, Wells Fargo.

Oct. 17-23: EXOPACK $325 million; Goldman Sachs, JPMorgan, BofA Merrill Lynch, Barclays, Investec, Morgan Stanley.

Starts Oct. 21: DOMESTIC & GENERAL £500 million; Goldman Sachs, Barclays, Credit Suisse, BNP, Morgan Stanley, SG, UBS.

Oct. 22-25: DOLE FOOD $275 million; Deutsche Bank, BofA Merrill Lynch, Scotia.

Oct. 21-24: BLACKBOARD INC.: $365 million; Deutsche Bank, Morgan Stanley.

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