High Yield Calendar: $1.08 billion €760 million deals being marketed

April 24 Week

GARDA WORLD SECURITY CORP.: $630 million eight-year senior notes (Caa2/CCC+/B-); Citigroup (left bookrunner and global coordinator), Barclays (joint bookrunner and global coordinator, Macquarie, SG, TD (joint bookrunners), Altacorp (co); Rule 144A and Regulation S for life; callable after three years at par plus 75% of coupon; three-year 40% equity clawback at par plus coupon; 101% poison put; to refinance debt and general corporate purposes including a dividend to fund the stock repurchase; Montreal-based cash logistics and security solutions provider; roadshow April 24-26, pricing thereafter.

COVEY PARK ENERGY LLC and COVEY PARK ENERGY FINANCE CORP.: $450 million senior notes due 2025; Goldman Sachs & Co. (left books), Wells Fargo Securities LLC, Capital One, Deutsche Bank Securities Inc., BMO Capital Markets, Citigroup Global Markets Inc., BofA Merrill Lynch (joint books); Rule 144A and Regulation S for life; non-callable for three years; approximately $441 million proceeds to pay off term loan, with remainder to repay $291 million of revolver debt; private oil and gas exploration and production company based in Dallas; roadshow April 24-28, pricing thereafter.

TRAVELEX FINANCING PLC, a subsidiary of TRAVELEX HOLDINGS LTD.: €360 million senior secured notes due 2022; JPMorgan; Rule 144A and Regulation S; non-callable for two years; to repay outstanding Travelex Financing 8% senior secured notes due 2018 and floating-rate notes due 2018; London-based foreign exchange company; pricing expected Thursday.

SENVION HOLDING GMBH: €400 million 5.5-year senior secured fixed-rate green bonds (existing ratings B2/B+); Deutsche Bank (joint global coordinator and physical bookrunner, bill and deliver), JPMorgan (joint global coordinator and physical bookrunner), BNP Paribas, Credit Agricole (joint global coordinators and joint bookrunners), BayernLB, Citigroup, Natixis, RBI, RBC, Santander, SEB (joint bookrunners); Rule 144A and Regulation S for life; callable after two years at par plus 50% of coupon (special call provision allows the issuer to call 10% of the notes annually at 103 during the non-call period); two-year 40% equity clawback at par plus coupon; to redeem the 6 5/8% senior secured notes due 2020; Hamburg, Germany-based wind turbine company; roadshow April 25-27.

On The Horizon

BRAND ENERGY & INFRASTRUCTURE SERVICES: $700 million bridge loan; also $3.33 billion credit facility; Goldman Sachs, Barclays, ING Capital and Natixis; to help fund its acquisition of Safway Group from Odyssey Investment Partners; Brand Energy, a portfolio company of Clayton, Dubilier & Rice, is a Kennesaw, Ga.-based provider of specialized services to energy, industrial and infrastructure customers; Safway is a Waukesha, Wis.-based provider of scaffolding and motorized aerial access solutions and insulation and coating services to commercial, industrial and infrastructure customers; announced in March 23 press release.

CENTURYLINK: $2.15 billion senior secured bridge loan launched Feb. 10 via Morgan Stanley (other banks involved in the debt commitment include Bank of America, MUFG, Barclays, JPMorgan, Wells Fargo, RBC, Goldman Sachs, SunTrust, Mizuho, Regions Bank, Fifth Third, Credit Suisse and U.S. Bank); help fund acquisition of Level 3 Communications Inc., expected to close in the third quarter of 2017; Monroe, La., communications, hosting, cloud and IT services company.

EXAMWORKS GROUP INC.: $340 million eight-year senior notes; BofA Merrill Lynch, Barclays, Deutsche Bank Securities Inc. and SunTrust Robinson Humphrey Inc.; also $920 million credit facility; help fund buyout by Leonard Green & Partners LP; Atlanta-based provider of independent medical examinations, peer reviews, bill reviews, Medicare compliance, case management and related services; was expected as June 2016 business.

EXELA TECHNOLOGIES: $825 million bridge loan and $625 million credit facility via RBC Capital Markets LLC, Credit Suisse Securities (USA) LLC, Natixis Securities Americas LLC and KKR Capital Markets LLC; to help fund the merger of Quinpario Acquisition Corp. 2, SourceHOV LLC and Novitex Holdings Inc., which will create Exela; Quinpario is a St. Louis-based special purpose acquisition company; SourceHOV, majority owned by HandsOn Global Management LLC, is an Irving, Texas-based transaction processing services provider; Novitex is a West Stamford, Conn.-based provider of technology-driven managed services; announce in April 3 PREM14A filing.

GODADDY INC.: $530 million bridge financing and $1,377,000,000 incremental term loan; to help fund the acquisition of Host Europe Group from Cinven, expected in the second quarter of 2017; GoDaddy is Scottsdale, Ariz.-based provider of web hosting and domain names; Host Europe is an England-based hosting provider and domain registrar.

JACOB HOLM & SONNER HOLDING A/S: Euro-denominated secured bonds; SEB; some proceeds will be used to call the issuer’s SEK 650 million of senior secured bonds; Basel, Switzerland-based manufacturer of nonwoven roll goods; investor meetings started March 6.

LESLIE'S POOLMART INC.: $390 million senior notes, downsized from $420 million with the upsizing of the term loan to $810 million from $780 million (term loan, via Nomura, launched in late July 2016); to refinance debt and fund a dividend; Phoenix-based retailer of swimming pool supplies and related products.

MMI INTERNATIONAL LTD. $300 million senior secured notes due 2021 (expected ratings B2/B+); Goldman Sachs & Co. (left books), ANZ, KKR, Standard Chartered (joint books); Rule 144A and Regulation S; pay down term loan A; Singapore-based technology company with a focus on key components for the hard disk drive industry; international roadshow ran in late October into early November; initial guidance 9% area.

SUPERIOR INDUSTRIES INTERNATIONAL INC.: $260 million senior notes and $500 million credit facility; Citigroup, JPMorgan, RBC, Deutsche Bank; to help fund its acquisition of Uniwheels AG; Superior Industries is a Southfield, Mich.-based manufacturer of aluminum wheels; Uniwheels is a Germany-based supplier and manufacturer of aluminum wheels; announced in March 23 press release.

TEEKAY OFFSHORE PARTNERS LP: $250 million minimum bonds due in 2018 and 2019 to be offered in the U.S. and Norwegian markets, expected to receive third-party credit ratings as energy markets improve; to refinance debt; Hamilton, Bermuda-based provider of marine transportation, oil production, storage, towage and maintenance and safety services to the oil industry; announced in June 17, 2016 press release.

TELEFLEX INC.: Possible senior notes could come as an opportunistic deal to repay bank debt; also $750 million term loan to fund the acquisition of Vascular Solutions Inc., expected to close in the first half of 2017 (company has received a commitment from JPMorgan Chase Bank for a new $750 million senior unsecured bridge facility in connection with the planned acquisition); Teleflex is a Wayne, Pa.-based provider of medical technologies; Vascular Solutions is a Minneapolis-based medical device company; disclosed during Dec. 2 conference call.

UNITED RENTALS, INC.: New underwritten debt issue to help fund the Chicago-based NES Rentals Holdings II, Inc. for $965 million in cash, expected to close in the second quarter of 2017; financing will also make use of a draw on the asset-based facility; United Rentals is a Stamford, Conn., equipment rental company.

U.S. XPRESS ENTERPRISES INC.: $320 million eight-year senior notes (B3/B+); J.P. Morgan Securities LLC, Wells Fargo Securities LLC (joint); non-callable for three years; to repay term loan and 2007 restated term loan; Chattanooga, Tenn.-based intermodal freight company.

VIRTU FINANCIAL INC.: $825 million senior secured second-lien notes backed by a bridge loan; also $825 million term loan B; JPMorgan is the lead bank on the debt; to help fund its acquisition of New York-based independent securities firm KCG Holdings Inc., expected to close in the third quarter of 2017; Virtu is a New York-based technology-enabled market maker and liquidity provider to the financial markets.

Roadshows

April 24-26: GARDA WORLD SECURITY $630 million; Citigroup, Barclays, Macquarie, SG, TD.

April 24-28: COVEY PARK ENERGY $450 million; Goldman Sachs, Wells Fargo, Capital One, Deutsche Bank, BMO, Citigroup, BofA Merrill Lynch.

April 25-27: SENVION €400 million; Deutsche Bank, JPMorgan, BNP Paribas, Credit Agricole, BayernLB, Citigroup, Natixis, RBI, RBC, Santander, SEB.

Pricing expected April 27: TRAVELEX €360 million; JPMorgan.

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