High Yield Calendar: $1 billion being marketed

May 19 Week

24 HOUR FITNESS WORLDWIDE INC.: $500 million senior notes due 2022 (expected ratings Caa1/CCC+); J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC (joint books); Rule 144A and Regulation S for life; callable after three years at par plus 75% of the coupon; to finance LBO; San Ramon, Calif.-based fitness-club operator; roadshow started May 12; early guidance 8% to 8¼%; pricing May 20.

ENOVA INTERNATIONAL, INC.: $500 million seven-year senior notes; Jefferies LLC (sole); Rule 144A and Regulation S with registration rights; callable after three years at par plus 75% of the coupon; to repay inter-company loans and fund a distribution in connection with the spinoff from Cash America International, Inc.; Fort Worth, Texas-based provider of online financial services; roadshow through the middle of the May 19 week.

On The Horizon

ACTUANT ELECTRICAL: $60 million senior subordinated notes; also $150 million credit facility led by RBC Capital Markets and NXT Capital; to help fund the buyout of the company by Sentinel Capital Partners from Actuant Corp.; Actuant Electrical is a Menomonee Falls, Wis.-based provider of products for the retail do-it-yourself, marine, industrial OEM and wholesale electrical markets.

ALBEA: $150 million five-year senior secured PIK toggle notes (expected ratings Caa2/CCC+); JPMorgan, BofA Merrill Lynch (joint); non-callable for one year; to fund a dividend; Gennevilliers, France-based personal care products company.

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.

DFC GLOBAL CORP.: $750 million senior secured notes backed by a bridge loan via Jefferies Finance LLC and Credit Suisse Securities (USA) LLC; also $125 million credit facility; to help the acquisition of DFC Global by Lone Star Funds, expected to close during the third quarter of 2014; Berwyn, Pa.-based financial services company.

FRONTIER COMMUNICATIONS CORP.: $1.9 billion senior notes backed by bridge; J.P. Morgan Securities LLC; to fund the acquisition of AT&T Inc.'s wireline business and statewide fiber network in Connecticut; Stamford, Conn.-based wireline telecommunications provider; expected during the second or third quarter of 2014.

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; 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.

MALLINCKRODT PLC: Up to $500 million new senior notes backed by a bridge loan and $1.35 billion term loan; Barclays; to help fund the acquisition of Questcor Pharmaceuticals Inc., an Anaheim Hills, Calif.-based biopharmaceutical company, expected to close in the third quarter of 2014; Mallinckrodt is a Dublin, Ireland-based pharmaceuticals company.

MEN'S WEARHOUSE: $600 million senior notes and a $1.6 billion credit facility; BofA Merrill Lynch and J.P. Morgan Securities LLC; to help fund its purchase of Jos. A. Bank Clothiers expected to close in the third quarter of 2014; Men's Wearhouse is a Houston-based specialty retailer of men's apparel. Jos. A. Bank is a Hampstead, Md.-based designer, manufacturer and retailer of men's apparel, footwear and accessories.

NINE WEST HOLDINGS INC.: $455 million senior unsecured bridge loan or senior notes; also $720 million credit facility launched Feb. 14, including a $445 million term loan and $300 million unsecured term loan led by Morgan Stanley Senior Funding Inc., Jefferies Finance LLC and MCS Capital Markets LLC and $300 million asset-based revolver led by Wells Fargo Securities LLC and Bank of America Merrill Lynch; to help fund the buyout of parent company Jones Group Inc. by Sycamore Partners; marketer and wholesaler of apparel, footwear and accessories.

POST HOLDINGS INC.: $630 million senior unsecured debt securities and $635 million term loan debt; Barclays, Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC; to fund the purchase of Michael Foods from GS Capital Partners, Thomas H. Lee Partners and other owners, expected to close in the second quarter; Post is a St. Louis-based consumer packaged goods holding company. Michael Foods is a Minnetonka, Minn.-based producer and distributor of food products to the foodservice, retail and food-ingredient markets.

PROSPECTOR OFFSHORE DRILLING SA: $100 million five-year second-lien bonds via subsidiary Prospector Finance II Sarl; DNB Markets, Pareto Securities, Swedbank (joint); proceeds along with funds from $270 million loan to fully finance the delivery of Prospector 5 drilling rig, which is expected to occur in early June, to refinance existing debt secured by the Prospector 1 drilling rig and for general corporate purposes; Luxembourg-based drilling contractor.

SAFEWAY INC.: $1,625,000,000 senior secured notes and $9.45 billion credit facility; Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley Senior Funding Inc., Barclays, Deutsche Bank Securities Inc., PNC Capital Markets LLC, US Bank, SunTrust Robinson Humphrey Inc.; to fund the buyout of Safeway, expected to close in the fourth quarter of 2014; Pleasanton, Calif.-based food and drug retailer.

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.

TRANSDIGM INC.: Possible $2.35 billion of new subordinated debt; also $747 million of new bank debt via Credit Suisse Securities (USA) LLC, Morgan Stanley Senior Funding Inc., Barclays, Citigroup Global Markets Inc., HSBC Securities (USA) Inc., RBC Capital Markets and UBS AG, launched in a May 13 lender call; to help refinance the 7¾% senior subordinated notes due 2018 and pay a cash dividend; Cleveland-based aircraft components company.

WEYERHAEUSER REAL ESTATE CO. (WRECO): $800 million new senior unsecured notes; to help fund the merger with TRI Pointe Homes in a transaction valued at about $2.7 billion, anticipated to close in the second quarter of 2014 (a portion of the proceeds to be paid to Weyerhaeuser at closing); homebuilding subsidiary of Federal Way, Wash.-based Weyerhaeuser Co.

XELLA LUX SCA and XELLA INTERNATIONAL SA: Possible senior floating-rate notes; BNP Paribas (bill and deliver, joint global coordinator), Goldman Sachs International (joint global coordinator), Credit Agricole CIB, Morgan Stanley, UniCredit (joint books); to refinance debt; Duisburg, Germany-based building materials company; investor meetings May 19 in London.

ZEBRA TECHNOLOGIES CORP.: $3.25 billion bonds and bank debt; Morgan Stanley; to fund the acquisition of Motorola Solutions, Inc.'s enterprise business; Lincolnshire, Ill.-based printing technologies company.

Roadshows

Started May 12: 24 HOUR FITNESS WORLDWIDE $500 million; JPMorgan, Deutsche Bank, Morgan Stanley.

Started May 14: ENOVA $500 million; Jefferies.

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