High Yield Calendar: $1.125 billion deals being marketed

October 30 Week

ACRISURE LLC and ACRISURE FINANCE, INC: $725 million senior notes due 2025; J.P. Morgan; Rule 144A and Regulation S; non-callable for three years; to repay second-lien notes, to pay fees and expenses and to fund acquisitions; Caledonia, Mich.-based insurance broker; roadshow began Oct. 30, pricing expected on Friday.

FREEDOM MORTGAGE CORP.: $400 million of seven-year senior notes; Barclays, J.P. Morgan Securities LLC, Citigroup Global Markets Inc.; Rule 144A and Regulation S for life; non-callable for three years, then at par plus 50% of the coupon, three-year equity clawback, 101% change-of-control put; proceeds to fund cash to its balance sheet for strategic acquisitions of mortgage servicing rights and other assets; Mount Laurel, N.J.-based non-bank residential mortgage loan originator and servicer; conference calls and meetings through Thursday.

November 6 Week

CANYON RESOURCE HOLDINGS, LLC and CANYON FINANCE CORP (CANYON CONSOLIDATED RESOURCES, LLC): $375 million five-year senior secured first-lien notes; Jefferies; Rule 144A for life and Regulation S; non-callable for two years, mandatory redemption at 102 using 75% of excess cash; proceeds, plus proceeds from concurrent $135 million 5.5-year senior secured second-lien term loan to finance the partnership through the refinancing of existing credit facilities and fund the acquisition of Bowie Resource Partners, which is being renamed Canyon Resource Partners LLC; company is being formed via the combination of the Western bituminous coal assets and capabilities of existing coal companies Murray Energy Corp. in St, Clairsville, Ohio and Bowie Resource Partners LLC in Louisville, Ky; pricing early Nov. 6 week after conclusion of roadshow from Oct. 31 to Nov. 6.

On The Horizon

CONSTELLIUM NV: $450 million and €400 million of senior notes due February 2026; Deutsche Bank (left books), Credit Suisse, BofA Merrill Lynch, Goldman Sachs, JPMorgan, Wells Fargo Securities (books for dollar notes), Credit Suisse, Barclays, BNP Paribas, Credit Mutual, HSBC (books for euro notes), BNP Paribas, Barclays, Citigroup, HSBC (co-managers for dollar notes), BofA Merrill Lynch, Goldman Sachs, JPMorgan, Societe Generale (co-managers for euro notes); Rule 144A and Regulation S; non-callable for three years and then callable at par plus 50% of coupon; with an offering of class A ordinary shares and cash on hand to fund tender offers for its $425 million 7 7/8% senior secured notes due 2021, €250 million 7% senior notes due 2023 and $400 million 8% senior notes due 2023 and to redeem any notes that remain outstanding after the tender offers, which will end on Nov. 6; Amsterdam-based maker of rolled and extruded aluminum products.

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.

ITRON INC.: $350 million notes backed by bridge loan initially priced at Libor plus 500 bps with 1% Libor floor, and $400 million term loan via Wells Fargo as lead arranger and bookrunner; to fund its acquisition of San Jose, Calif.-based internet connectivity platforms and services company Silver Spring Networks Inc.; Liberty Lake, Wash.-based technology and services company; disclosed in 8-K document filed on Sept. 18 with Securities and Exchange Commission.

MICHAEL BAKER INTERNATIONAL, LLC: Secured notes offering; proceeds along with funds from bank financing to refinance existing debt and to fund a distribution to shareholders of its SC3 subsidiary in connection with previously announced sale of SC3; Pittsburgh-based provider of engineering, development, intelligence and technology solutions.

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.

NAVISTAR INTERNATIONAL CORP.: New notes; to fund tender for 8¼% senior notes due 2021; early tender deadline is Nov. 2; concurrently in market with $1.6 billion bank loan set to launch on Tuesday; JPMorgan, Goldman Sachs and Citigroup are arranging the bank debt; Lisle, Ill.-based manufacturer of trucks and buses and parts supplier.

SINCLAIR BROADCAST GROUP INC.: Commitment for $5.6 billion in debt financing, including a $785 million bridge loan, to help fund acquisition of Tribune Media Co.; expected 50:50 mix of fixed- and floating-rate debt; JPMorgan Chase Bank, RBC and Deutsche Bank Securities Inc. leads; Hunt Valley, Md.-based television broadcasting company.

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.

VANTIV LLC: $1.13 billion senior notes backed by one-year bridge at Libor plus 425 bps, 1% Libor floor, and $3.08 billion incremental bank debt; Morgan Stanley, Credit Suisse and MUFG are the lenders under the incremental loans and joint lead arrangers and joint bookrunners on the bridge loan; to help fund Vantiv’s merger with Worldpay Group plc, to refinance existing Worldpay debt and for general corporate purposes; Vantiv is a Cincinnati-based merchant and PIN debit acquirer; Worldpay is a London-based payments company (combined company will be named Worldpay and have global and corporate headquarters in Cincinnati and international headquarters in London); announced in Aug. 16 8-K.

WINDSTREAM HOLDINGS, INC.: $250 million senior secured notes; to pay down revolver; Little Rock-based telecom; announced Oct. 18 in conjunction with exchange offers and consent solicitation (exchange offers expire Nov. 14).

Roadshows

Started Oct. 30: ACRISURE LLC and ACRISURE FINANCE, INC: $725 million senior notes due 2025; J.P. Morgan

Oct. 31 to Nov. 2: FREEDOM MORTGAGE CORP.: $400 million seven-year senior notes; Barclays, J.P. Morgan Securities LLC, Citigroup Global Markets Inc.

Oct. 31 to Nov. 6: CANYON RESOURCE HOLDINGS, LLC and CANYON FINANCE CORP (CANYON CONSOLIDATED RESOURCES, LLC): $375 million five-year senior secured first-lien notes; Jefferies

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