Forward calendar builds; Cirsa trades up; Energizer active; TDC improves

By Paul A. Harris and Abigail W. Adams

Portland, Me., June 25 – The domestic and European primary market set the stage for a busy week with one euro-denominated deal pricing on Monday and the forward calendar filling in.

Teekay Offshore Partners LP and Teekay Offshore Finance Corp. is expected to price an upsized $600 million offering of five-year senior notes (Caa2/B/B) and Chaparral Energy Inc. a $300 million offering of five-year senior notes (Caa1/B-) on Tuesday.

PHI, Inc.’s $500 million offering of five-year senior secured notes (B3/B/B+) may also price on Tuesday, a market source said.

Nationstar began a roadshow on Monday for a $1.7 billion two-part offering of senior notes, which is expected to price late in the week.

Superior Plus Corp.’s $350 million offering of eight-year notes (Ba3/BB) is also expected to price before the week draws to a close.

AmWINS Group, Inc. started a Monday-to-Wednesday roadshow for a $300 million offering of eight-year senior notes (S&P: B-).

Cirsa Gaming Corp. SA’s 7 7/8% senior notes due Dec. 20, 2023 (B2/B+) continued to perform well in high-volume trading on Monday with the notes almost 3 points above their issue price.

The notes, which were the dollar-denominated tranche in a dual-currency three-part offering, “traded right up,” since pricing on Friday, a market source said.

TDC A/S’ recently priced 9 3/8% senior notes due 2023 (B3/B-/B-) were slightly improved.

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