High Yield Calendar: $2.5 billion and €725 million being marketed

July 22 Week

LSB INDUSTRIES, INC.: $400 million senior notes due 2021 (Ba3/B+); Wells Fargo Securities LLC (left books), BofA Merrill Lynch, J.P. Morgan Securities LLC (joint books), Sterne Agee (co); Rule 144A and Regulation S with registration rights; non-callable for three years; to repay the secured term loan and for general corporate purposes; Oklahoma City-based diversified industrial company involved in the manufacturing and marketing of products in the chemical and climate control segments; price talk 6¾% area.

ALLIANCE ONE INTERNATIONAL, INC.: $790 million senior secured second-lien notes due 2021 (Caa1/B-); Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, ICBC, ING, Natixis Securities, Standard Chartered Bank (joint); Rule 144A and Regulation S; non-callable for four years; to fund the redemption of $635 million 10% senior notes due 2016 and any and all of $115 million 5½% convertible senior subordinated notes due 2014; Morrisville, N.C.-based leaf tobacco merchant; price talk 9¼% area.

BRIGHTSTAR CORP.: $250 million five-year senior notes (expected ratings B1/B+); J.P. Morgan Securities LLC, Goldman Sachs & Co., Jefferies LLC (joint), HSBC Securities, PNC Capital Markets (co's); Rule 144A and Regulation S with contingent registration rights; callable in two years at par plus 50% of the coupon; to repay ABL debt and for general corporate purposes; specialized wireless distributor a provider of services to the global wireless ecosystem; roadshow started July 22; pricing late July 22 week.

MANUTENCOOP: €450 million senior secured notes in two tranches: seven-year fixed-rate notes, non-callable for three years, and six-year floating-rate notes, non-callable for one year; JPMorgan, UniCredit, Banca IMI, Mediobanca (joint); Bologna, Italy-based facilities management company; to repay debt; roadshow July 22 week.

July 29 Week

KEHE DISTRIBUTORS, LLC and KEHE FINANCE CORP.: $200 million senior secured second-lien notes due 2021; BMO Capital Markets Corp. (left books), J.P. Morgan Securities LLC (joint books), Wells Fargo Securities LLC, Moelis, US Bancorp, RBS Securities Inc. (co's); Rule 144A and Regulation S for life; non-callable for four years; to refinance debt, redeem certain preferred stock and general corporate purposes; Romeoville, Ill.-based specialty, natural and organic, and fresh food distribution company; roadshow starts July 24; pricing July 29 week.

FLEXI-VAN LEASING, INC.: $250 million five-year senior notes (expected ratings B3/BB-); BofA Merrill Lynch (left books), Wells Fargo Securities LLC (joint books), DVB, Scotia Capital, US Bancorp (co's); Rule 144A for life; non-callable for 2.5 years; 2.5-year 35% equity clawback; 101% poison put; to repay bank debt and fund a distribution to shareholders; Kenilworth, N.J.-based provider of equipment to the intermodal transportation industry; roadshow started July 25; investor call 12:30 p.m. ET on July 25.

S&B INDUSTRIAL MINERALS SA and S&B MINERALS FINANCE SCA: €275 million senior secured notes due 2020 (B3/B+); Credit Suisse, UBS, BNP Paribas, HSBC; to refinance existing debt and fund a dividend; Athens, Greece-based miner and processor of bentonite, perlite, bauxite, zeolite and wollastonite; roadshow ends July 29.

U.S. XPRESS ENTERPRISES, INC.: $250 million senior secured second-lien notes due 2020 (expected ratings 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; pricing during the middle part of the July 29 week.

STEARNS HOLDINGS, INC. (STEARNS LENDING, INC.): $200 million seven-year senior secured notes; Jefferies LLC (sole); Rule 144A and Regulation S for life; callable in three years at par plus 75% of the coupon; to refinance debt and for general corporate purposes, including the acquisition of additional servicing rights from third parties; Santa Ana, Calif.-based independent mortgage origination and servicing company; roadshow through July 29 week.

SOUTHERN STATES COOPERATIVE, INC.: $130 million senior notes due 2021; BMO Capital Markets Corp. (sole), Fifth Third Securities Inc., PNC Capital Markets, RB International Markets (co's); Rule 144A and Regulation S for life; non-callable for four years; to refinance debt; Richmond, Va.-based supplier of agricultural products and services; roadshow starts July 29 week.

Expected July Business

PLAYA: $300 million senior notes; also $375 million credit facility via Deutsche Bank Securities Inc. and Bank of America Merrill Lynch, launches at a July 25 bank meeting; to help capitalize the company; owner, operator and developer of all-inclusive resorts in the Dominican Republic, Mexico and Jamaica.

PNK FINANCE CORP. a wholly owned subsidiary of PINNACLE ENTERTAINMENT, INC.: $800 million senior notes; J.P. Morgan Securities LLC; Rule 144A and Regulation S; proceeds, together with an anticipated new credit facility, to finance the cash consideration for the acquisition of Ameristar Casinos, Inc., to redeem Pinnacle's existing 8 5/8% senior notes due 2017, to provide working capital and for general corporate purposes; Pinnacle Entertainment is a Las Vegas-based owner and operator of casinos. Ameristar is a Las Vegas-based casino gaming company; expected to launch during the July 15 week.

On The Horizon

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.

BMC SOFTWARE: $1.68 billion equivalent senior notes, including up to €500 million equivalent notes; also $4.55 billion senior secured credit facility; bridge loan commitments from Credit Suisse, RBC Capital Markets and Barclays; to help fund the acquisition of BMC by Bain Capital, Golden Gate Capital, GIC Special Investments Pte Ltd. and Insight Venture Partners, expected to close during 2013; Houston-based software company.

DELL INC. $3.25 billion secured notes: $2 billion first-lien notes and $1.25 billion second-lien notes; also $7.5 billion credit facility; BofA Merrill Lynch, Barclays, Credit Suisse Securities (USA) LLC, RBC Capital Markets; to help fund the acquisition of the company by Michael Dell and Silver Lake, expected to close at the end of the second quarter of 2013; Round Rock, Texas-based provider of technology and business products and services.

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.

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.

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.

NIELSEN HOLDINGS NV: $1.3 billion bridge, most or all to be taken out with high-yield bonds, to fund its acquisition of Arbitron Inc.; J.P. Morgan Securities LLC; Nielsen is a New York and Netherlands-based provider of information and insights into what consumers watch and buy; Arbitron is a Columbia, Md.-based media and marketing research firm.

PETAQUILLA MINERALS LTD.: Possible second-lien notes, size to be determined, as part of an approximately $210 million debt financing that will include between $90 million and $140 million of first-lien bank debt; Global Hunter Securities; to refinance debt and to finance capital expenditures related to the Lomero-Poyatos mine in Spain; Vancouver, B.C.-based copper exploration company; the financing was previously in the market as a single $210 million tranche of five-year senior secured notes, announced in July 2012; possible 2013 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.

TENET HEALTCARE CORP.: $2.8 billion senior notes backed by a bridge loan and $1.8 billion term loan; BofA Merrill Lynch (sole); to help fund the acquisition of Vanguard Health, expected to close before the end of 2013; Tenet is a Dallas-based health care services company; Vanguard is a Nashville, Tenn.-based owner and operator of acute care and specialty hospitals and complementary facilities.

Roadshows

Starts July 24: KEHE DISTRIBUTORS $200 million; BMO, JPMorgan.

Pricing middle of July 29 week: U.S. XPRESS $250 million; Wells Fargo, Morgan Stanley.

Concludes July 29: S&B INDUSTRIAL MINERALS €275 million; Credit Suisse, UBS, BNP Paribas, HSBC.

Through July 29 week: STEARNS LENDING $200 million; Jefferies.

Started July 25: FLEXI-VAN LEASING $250 million; BofA Merrill Lynch, Wells Fargo.

Starts July 29 week: SOUTHERN STATES COOPERATIVE $130 million; BMO.

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