Investment Grade Calendar

October

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.

On The Horizon

ADVANCE AUTO PARTS INC.: Possible bond offering; JPMorgan; to finance the acquisition of General Parts International Inc.; Roanoke, Va.-based retailer of automotive aftermarket parts, accessories, batteries and maintenance items.

AIR PRODUCTS AND CHEMICALS INC.: Public or private bond issuance in United States or Europe; to refinance €300 million 3.75% eurobond due in November 2013; Allentown, Pa.-based industrial gas and chemical maker.

ENTERGY CORP.: $575 million of bonds in connection with merger of electric transmission business with ITC Holdings Corp.; transmission subsidiaries Entergy Transco Subs to borrow additional $1.2 billion from capital markets to pay down debt; Dallas-based integrated energy company.

FARMERS INSURANCE EXCHANGE, FIRE INSURANCE EXCHANGE, TRUCK INSURANCE EXCHANGE: At least $350 million surplus notes; Citigroup Global Markets Inc., RBS Securities Inc.; proceeds to fund tender offers set to expire Nov. 6; Farmers to buy back $300 million 8.625% notes due 2024; exchanges will buy back up to $550 million; insurance group based in Los Angeles.

FIDELITY NATIONAL FINANCIAL INC.: $1.4 billion of debt, including longer-term bonds; to fund majority of cash portion of acquisition of majority of common shares of Lender Processing Services, Inc., expected to close in Q4 of 2013; Jacksonville, Fla.-based provider of title service, mortgage and diversified services.

REGENCY CENTERS CORP.: $300 million of forward starting interest rate swaps for new debt issuances occurring through Aug. 1, 2016; Jacksonville, Fla.-based real estate investment trust with a focus on shopping centers.

2013

MOSAIC CO.: Long-term debt in second half of 2013; to fund potential share repurchase; Plymouth, Minn.-based agricultural chemical maker.

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