High Yield Calendar: $3.41 billion deals being marketed

November 16 Week

RACKSPACE HOSTING, INC.: $350 million senior notes due January 2024 (Ba1/BB+); Morgan Stanley & Co. LLC, Goldman Sachs & Co., J.P. Morgan Securities LLC (joint), Wells Fargo Securities LLC, Barclays, Evercore, William Blair (co's); Rule 144A for life and Regulation S; non-callable for three years; to repay all outstanding amounts under its senior revolving credit facility, and for general corporate purposes, which may include share repurchases under its previously announced $1 billion share buyback authorization; San Antonio-based managed cloud computing company; roadshow started Nov. 12; investor call noon ET Nov. 12; initial guidance 5¾% to 6%; pricing expected in middle part of Nov. 16 week.

VERITAS BERMUDA LTD. and VERITAS US INC. $2,525,000,000 equivalent notes, increased from $2,275,000,000 equivalent: $750 million equivalent of seven-year senior secured notes (B1/B+) in dollar- and euro-denominated tranches, upsized from $500 million equivalent; also $1,775,000,000 eight-year senior unsecured notes (Caa1/CCC+) in dollar- and euro-denominated tranches; Morgan Stanley & Co. LLC, BofA Merrill Lynch, UBS Investment Bank, Jefferies LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. (joint); Rule 144A for life and Regulation S; notes in both tranches come with three years of call protection; term loan downsized to $2.21 billion from $2.46 billion; to help fund the buyout of Veritas Technologies LLC by the Carlyle Group from Symantec Corp.; Mountain View, Calif.-based provider of storage and server management software solutions; roadshow started Nov. 6.

AMERICAN ENERGY – PERMIAN BASIN, LLC: $530 million senior secured first-lien notes due 2020 (B2/B), decreased from $560 million; Goldman Sachs & Co. (left books), Jefferies LLC, BofA Merrill Lynch (joint books), Morgan Stanley & Co. LLC, MUFG, Wells Fargo Securities LLC (co's); 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; early guidance 10% area.

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.

ENDURANCE INTERNATIONAL GROUP HOLDINGS INC.: $350 million senior notes and $735 million term loan; Credit Suisse Securities (USA) LLC and Goldman Sachs; to help fund its acquisition of Constant Contact Inc., expected to close in the first quarter of 2016; Endurance is a Burlington, Mass.-based provider of web hosting and online services; Constant Contact is a Waltham, Mass.-based online marketing 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.

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.

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.

TREEHOUSE FOODS INC.: $800 million long-term high-yield notes and $1 billion new bank debt; BofA Merrill Lynch; to fund its $2.7 billion purchase of ConAgra Foods Inc.’s private brands operations, expected to close in the first quarter of 2016; Oak Brook, Ill.-based consumer packaged food and beverage manufacturer.

WESTERN DIGITAL CORP.: $18.1 billion debt commitment including $8.1 billion senior secured and unsecured bridge facilities, with about $8.1 billion to be taken out with secured and unsecured notes and the balance to be repaid with available cash; also $1 billion revolver, $3 billion in amortizing term loans, and $6 billion in other term loans; Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC; RBC Capital Markets LLC; to help fund the approximately $19 billion acquisition of SanDisk Corp., expected to close in the third quarter of 2016, and refinance existing debt at both Western Digital and SanDisk; Western Digital is an Irvine, Calif.-based developer and manufacturer of data storage solutions; SanDisk is a Milpitas, Calif.-based provider of flash storage solutions.

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.

Roadshow

Started Nov. 12: RACKSPACE HOSTING $350 million; Morgan Stanley, Goldman Sachs, JPMorgan.

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