High Yield Calendar: $560 million and €237 million deals being marketed

October 26 Week

AMERICAN ENERGY – PERMIAN BASIN, LLC: $560 million senior secured first-lien notes due 2020; Goldman Sachs & Co. (left books), Jefferies LLC, BofA Merrill Lynch (joint books); Rule 144A and Regulation S for life; non-callable for two years; to repay all borrowings currently outstanding under the revolver ($201 million as of Sept. 30, 2015) and possibly to fund the remaining portion of the pending Enduring Resources acquisition, with any additional proceeds to fund drilling and completion activities, infrastructure development and general corporate purposes; Oklahoma City-based independent oil and gas company; investor call Oct. 19.

DAKAR FINANCE SA (AUTODISTRIBUTION GROUP): €237 million five-year senior holdco pay-if-you-can notes (expected ratings Caa1/CCC+); JPMorgan (global coordinator, bill and deliver), Credit Suisse (global coordinator), BNP Paribas (lead manager); Rule 144A and Regulation S for life; callable after one year at 101; to fund the acquisition of Autodis Group SAS BY Bain Capital; Arcueil, France-based supplier of automobile and truck parts; roadshow Oct. 26-29, pricing thereafter.

Possible October Business

CHARTER COMMUNICATIONS INC.: $3.5 billion senior notes; Credit Suisse Securities (USA) LLC; to help fund acquisition of Time Warner Cable Inc.; Stamford, Conn.-based provider of cable, internet and phone service; expected October business; expected October business.

MATCH GROUP INC.: $500 million seven-year senior notes (BB-); BofA Merrill Lynch, J.P. Morgan Securities LLC; proceeds, along with $800 million senior secured term loan and proceeds from an IPO, to fund a distribution to IAC/InterActiveCorp, the parent company; New York City-based online dating site; possible October business.

On The Horizon

ALBERTSONS COS. INC.: New senior notes and credit facility following the consummation of its initial public offering of common stock; to repay and terminate existing ABL facilities and the ABS/Safeway term loan; Boise, Idaho-based food and drug retailer (S-1/A filed with the Securities and Exchange Commission on Sept. 25).

AMSURG CORP.: $3.7 billion in new financing to be raised through a combination of senior secured credit facilities and senior notes, to fund the proposed merger with Team Health Holdings Inc. (Guggenheim Securities LLC and J.P. Morgan Securities LLC expressed confidence in their ability to finance the proposed acquisition via the debt markets); the combined company would assume the Team Health name, and would continue to operate out of Team Health's headquarters in Knoxville, Tenn.; AmSurg is a Nashville, Tenn.-based acquirer, developer and operator of ambulatory surgery centers in partnership with physicians; Team Health is a provider of outsourced physician staffing solutions for hospitals.

CENTENE CORP. $2.7 billion debt financing, to consist primarily of senior notes, via Wells Fargo, NA; proceeds, along with cash, to fund the acquisition of Los Angeles-based publicly traded managed care organization Heath Net, Inc. in a transaction valued at $6.8 billion, including the assumption of about $500 million of debt, expected to close by early 2016; Centene is a diversified, multi-national health care enterprise.

DELL INC.: $49.5 billion in debt financing to help fund its acquisition of EMC Corp., closing expected in mid-2016; Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Barclays, Bank of America Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs Bank USA, RBC Capital Markets (In connection with the financing Dell expects to redeem any outstanding 5 5/8% senior first-lien notes due 2020); Dell is a Round Rock, Texas-based technology and services company; EMC is a Hopkinton, Mass.-based technology company.

ENTRANS INTERNATIONAL, LLC and ENTRANS INTERNATIONAL FINANCE CORP.: $250 million senior secured notes due 2020 (B2/B); Credit Suisse Securities (USA) LLC (sole); Rule 144A and Regulation S for life; callable after three years at par plus 50% of the coupon; three-year 40% equity clawback; 101% poison put; to refinance debt; Cleveland, Tenn.-based manufacturer of tanker trailers and industrial equipment.

KONECRANES TEREX PLC: $1.15 billion senior unsecured bridge loan and $1.65 billion senior secured credit facility (euro portion of the term loan can be sized at up to €450 million); Credit Suisse Securities (USA) LLC; to help fund the merger of Terex Corp. and Konecranes plc, expected to close in the first half of 2016, to refinance bank debt at both companies; Konecranes is a Finland-based provider of lifting solutions as well as services for lifting equipment and machine tools; Terex is a Westport, Conn.-based diversified equipment manufacturer.

KRATON PERFORMANCE POLYMERS, INC.: $1.78 billion long-term debt including $1.35 billion of covenant-light term loans, with the balance comprised of senior unsecured notes; Credit Suisse Securities (USA) LLC, Nomura Securities International Inc., Deutsche Bank Securities Inc.; to acquire Arizona Chemical Holdings Corp. for $1.37 billion, expected to close late 2015 or early 2016; also $250 million asset-based revolver expected to be largely undrawn; Kraton is a Houston-based producer of engineered polymers and styrenic block copolymers; Arizona Chemical is a Jacksonville, Fla.-based specialty chemicals company.

MEDIA GENERAL INC.: $2.8 billion financing led by RBC Capital Markets and JPMorgan Chase Bank, expected to come in the form of bonds and term loans; to help fund its acquisition of Meredith Corp., expected to close by June 30, 2016; Media General is a Richmond, Va.-based television broadcasting and digital media company; Meredith is a Des Moines, Iowa-based media and marketing company.

MY ALARM CENTER, LLC and MY ALARM CENTER, INC.: $265 million senior secured notes due 2020 (B3); Imperial Capital; Rule 144A and Regulation S for life; callable after two years at par plus 75% of coupon; to refinance debt, to terminate an interest rate swap and for general corporate purposes; Newtown Square, Pa.-based provider of security alarm and home automation solutions for primarily residential households in the United States; roadshow took place in June 2015.

PRIME HEALTHCARE SERVICES, INC.: $700 million senior notes due 2023 (B3/B+); Wells Fargo Securities LLC (left books), Barclays (joint books), BBVA, Capital One, CIT Group (co's); Rule 144A and Regulation S for life; callable after three years at par plus 75% of coupon; to fund acquisition pipeline, refinance credit facility, fund a special dividend; Ontario, Calif.-based owner and operator of acute care hospitals; investor call July 21; price talk 7½% area.

SENSATA TECHNOLOGIES HOLDING NV: $1 billion financing commitment from BofA Merrill Lynch to be taken out primarily with senior notes; to fund the acquisition of the sensing portfolio of Custom Sensors & Technologies Inc., expected to close in the fourth quarter of 2015 or early 2016; Sensata is an Attleboro, Mass.-based supplier of sensing, electrical protection, control and power management services; implied interest expense of the financing is about 5½%.

TEAM HEALTH HOLDINGS INC.: $545 million senior notes; Goldman Sachs & Co.; also $965 million term loan via Citigroup Global Markets Inc.; to help fund acquisition of North Hollywood, Calif.-based hospital operator and post-acute provider IPC Healthcare Inc., expected to close in the fourth quarter of 2015; Knoxville, Tenn.-based provider of outsourced physician staffing solutions for hospitals.

WIDEOPENWEST FINANCE LLC: Possible new senior notes offer (credit amendment would clear way for new notes); company is marketing a $1.411 billion term loan repricing launching May 7 via Credit Suisse Securities (USA) LLC; Denver-based provider of data, video and telephony services.

Roadshows

Oct. 26-29: AUTODISTRIBUTION €237 million; JPMorgan, Credit Suisse, BNP.

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