High Yield Calendar: $6.945 billion and £650 million being marketed

MAY 16 WEEK

CRICKET COMMUNICATIONS, INC.: $400 million add-on to 7¾% senior secured notes due Oct. 15, 2020 (expected ratings B3/CCC+); Goldman Sachs & Co. (left lead), Morgan Stanley & Co. Inc., Deutsche Bank Securities Inc. (joint books), Bank of America Merrill Lynch (co); Rule 144A and Regulation S with registration rights; callable on Oct. 15, 2015 at 103.875; for general corporate purposes including the accelerated LTE network build out; operating subsidiary of Leap Wireless International, Inc., a San Diego-based provider of digital wireless services; pricing expected Wednesday; original $1.2 billion issue priced at 98.323 to yield 8% on Nov. 5, 2010.

CHRYSLER GROUP LLC and CORPORATE CO-ISSUER: Upsized $3.5 billion (from $2.5 billion) secured senior notes (B2/B) due 2019, price talk 7¾% to 8%, and due 2021, price talk 25 bps higher than the eight-year notes, tranche sizes to be determined ($1 billion shifted to notes from bank loan); Bank of America Merrill Lynch, Goldman Sachs & Co. (joint physical books), Citigroup Global Markets Inc., Morgan Stanley & Co. Inc. (passive books), Bank of America Merrill Lynch will bill and deliver; Rule 144A with registration rights; eight-year notes non-callable for four years; 10-year notes non-callable for five years; proceeds, together new bank debt and $1.3 billion in proceeds from the recently announced exercise by Fiat of an option to acquire an incremental 16% ownership interest in Chrysler Group, to repay its loans from the U.S. and Canadian governments in full (debt and equity transactions expected to take place concurrently); Auburn Hills, Mich.-based producer of Chrysler, Jeep, Dodge, Ram, Mopar and Fiat vehicles and products; books close 10 a.m. ET Thursday, pricing thereafter.

TFS CORP.: $175 million senior secured notes due 2018 (B3/B/); Global Hunter Securities, Clarkson Capital Markets, Knight Securities; non-callable for four years; to fund land acquisitions and general corporate purposes; Nedlands, Western Australia-based owner and operator of sandalwood plantations; price talk 10% to 10¾%.

JBS USA, LLC and JBS USA FINANCE, INC. $1 billion senior notes (existing ratings B1/BB) due 2019, callable in three years at par plus 75% of the coupon, and due 2021, callable in four years at par plus 75% of the coupon; Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Banco do Brasil, Barclays Capital Inc., Morgan Stanley & Co. (joint), BMO Nesbitt Burns, Credit Suisse Securities (USA) LLC, Wells Fargo Securities LLC (co's); Rule 144A for life; 101% poison put (both tranches); BS USA, LLC intends to use the proceeds to make an intercompany loan to JBS USA Holdings, Inc., which will further transfer the funds to JBS SA, which expects to use proceeds to repay short- and medium-term debt; company is a Greeley, Colo.-based beef and pork processor; roadshow starts early May 16 week; pricing late May 16 week.

ALPHA NATURAL RESOURCES, INC. $1.5 billion senior notes due in 2019, non-callable for three years, and due in 2021, non-callable for five years; Morgan Stanley & Co. Inc., Citigroup Global Markets Inc. (joint), Bank of America Merrill Lynch, Mitsubishi UFJ Securities, PNC Capital Markets, RBS Securities Inc. (co's); SEC registered; to finance a portion of the acquisition of Massey Energy, including repayment of certain outstanding Massey Energy debt; Abingdon, Va.-based coal producer; investor call 10:30 a.m. ET May 16; pricing expected during May 16 week.

ELDORADO RESORTS LLC and ELDORADO CAPITAL CORP.: $180 million senior secured notes due 2019 (expected ratings B2/B+); Bank of America Merrill Lynch (sole), Capital One (co); Rule 144A for life; non-callable for four years (Special call provision allows issuer to redeem up to 10% of the notes annually at 103 during the first three years); 101% poison put; proceeds, together with new credit facility and cash on hand, to purchase any or all outstanding first mortgage notes due 2012 (the "Shreveport notes"), to purchase any or all of 9% senior notes due 2014 (the "Eldorado notes"), and retire the outstanding preferred interest in the Louisiana Partnership; Reno, Nev.-based gaming and lodging company; roadshow started May 16; pricing expected May 19.

XERIUM TECHNOLOGIES, INC.: $240 million senior notes due 2018 (B3/B-); Citigroup Global Markets Inc. (left lead), Jefferies & Co. (joint books); Rule 144A and Regulation S with registration rights; non-callable for three years; three-year 35% equity clawback; 101% poison put; to repay debt; Raleigh, N.C.-based manufacturer of industrial textiles and rolls used primarily in the paper production process; roadshow May 16-19.

KINDRED ESCROW CORP. to be merged with and into KINDRED HEALTHCARE INC.: $550 million senior notes due 2019 (expected ratings B3/B-); J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. Inc.; Rule 144A and Regulation S with registration rights; to fund the acquisition of RehabCare Group, Inc. and repay any debt; Kindred Healthcare is a Louisville, Ky.-based health-care services company; roadshow starts May 15; pricing expected May 20.

CONNACHER OIL AND GAS LTD. $900 million equivalent senior secured notes: Dollar-denominated notes due 2019, Credit Suisse Securities (USA) LLC left lead bookrunner and global coordinator, and Canadian dollar-denominated notes due 2018, RBC Capital Markets left lead bookrunner and global coordinator; Rule 144A and Regulation S for life/private placement in Canada; non-callable for four years; three-year 35% equity clawback; 101% poison put; to refinance existing first-lien and second-lien notes; Calgary, Alta.-based integrated oil company; pricing May 16 week.

GALA CORAL GROUP, LTD. £650 million: £250 million of senior secured notes due 2018, non-callable for three years, and £400 million of senior unsecured notes due 2019, non-callable for four years; Credit Suisse AG, Barclays plc (global coordinators), Deutsche Bank AG, Goldman Sachs International, Morgan Stanley, HSBC; to repay senior secured bank loans; Nottingham, England-based gaming and off-track betting company; London May 17, Amsterdam May 18, Paris and Frankfurt May 19.

MAY 23 WEEK

INTEGRA TELECOM HOLDINGS, INC.: $260 million senior notes due 2016 (expected ratings Caa2/CCC); J.P. Morgan Securities LLC, Morgan Stanley & Co. (joint); Rule 144A and Regulation S for life; non-callable for two years; to repay existing credit facility and general corporate purposes; Portland, Ore., fiber-based telecommunications carrier; roadshow started May 17; pricing expected May 23.

FORBES ENERGY SERVICES LTD.: $255 million senior notes due 2019; Jefferies & Co. (sole); Rule 144A with registration rights; non-callable for four years; to repay existing debt, including the 11% senior secured notes due 2015, and for general corporate purposes; Alice, Texas-based oilfield services company; roadshow May 16-24.

EXOPACK HOLDING CORP.: $225 million senior notes due 2018 (Caa1/CCC+); Goldman Sachs & Co., Bank of America Merrill Lynch (books); Rule 144A and Regulation S with registration rights; non-callable for three years; proceeds, along with proceeds from concurrent term loan, to fund tender for 11¼% senior notes due 2014 and pay a dividend to stockholders; Spartanburg, S.C.-based full-service paper and plastic flexible packaging products manufacturer; East Coast roadshow May 16 week, West Coast roadshow May 23 week, pricing thereafter.

FLINT ENERGY SERVICES LTD.: C$200 million senior notes due 2019; Credit Suisse Securities (USA) LLC, BMO Capital Markets (joint); Rule 144A for life; non-callable for four years; three-year 35% equity clawback; 101% poison put; to refinance bank debt and for general corporate purposes; Calgary, Alta.-based provider of products and services to the oil and gas industries; roadshow started May 17; pricing during May 23 week.

GULF OFFSHORE LOGISTICS, LLC: $110 million senior secured notes due 2016; Global Hunter Securities, Knight Capital; non-callable for three years; to repay debt and for general corporate purposes; Raceland, La.-based provider of marine transportation and logistical services to the oil and gas industry; roadshow May 16 week.

EXPECTED MAY BUSINESS

NEWLEAD HOLDINGS LTD.: $120 million senior secured bonds due 2016; Rule 144A and Regulation S; to finance certain vessel purchase commitments, to refinance the debt of certain vessels and for general corporate purposes; Piraeus, Greece-based international, vertically integrated mixed fleet shipping company.

RURAL/METRO CORP.: New high-yield bonds and credit facility; Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and Jefferies & Co. are leading the financing; to help fund the acquisition of the company by Warburg Pincus; Scottsdale, Ariz.-based provider of emergency and non-emergency ambulance services and private fire protection services.

SARATOGA RESOURCES INC.: $150 million first-lien senior secured notes; to refinance substantially all of the company's debt; oil & gas development and exploration company with operations in Southern Louisiana and offices in Houston and Covington, La.

EXPECTED JUNE BUSINESS

AMC NETWORKS INC. (RAINBOW MEDIA HOLDINGS LLC): $750 million senior notes; Bank of America Merrill Lynch, J.P. Morgan Securities LLC; also $2.175 million new bank debt; to finance the spin-off from Cablevision Systems Corp., refinance existing debt at Rainbow Media as well as to repay $1.25 billion of Cablevision and/or CSC Holdings LLC debt, and for general corporate purposes; Bethpage, N.Y.-based telecommunications, media and entertainment company; expected June business.

ON THE HORIZON

AMERICAN TOWER CORP.: Expected issue of high-yield notes, as part of a refinancing of bank debt maturing in 2012; Boston-based wireless and broadcast communications infrastructure company.

CAPSUGEL: €325 million bridge loan backing a proposed €325 million notes; also $1.07 billion credit facility to be led by UBS Securities LLC, Barclays Capital Inc., Deutsche Bank Securities Inc., KKR Capital Markets and Mizuho Securities USA Inc.; to help fund the buyout of the company by Kohlberg Kravis Roberts & Co LP from Pfizer Inc. for $2.375 billion in cash, expected to close in the third quarter of 2011; Peapack, N.J.-based manufacturer of hard capsules and drug-delivery systems.

DNO INTERNATIONAL ASA: $200 million to $300 million senior secured bonds due 2016; Pareto Securities AS, ABG Sundal Collier ASA and Fearnley Fonds ASA; for general corporate purposes; Oslo, Norway, oil and gas exploration and production company.

DUOCOMMUN INC.: $200 million senior notes; UBS Securities LLC and Credit Suisse Securities (USA) LLC (joint); also $240 million credit facility; to fund its acquisition of LaBarge Inc., expected to close in the second quarter of 2011, and repay debt; Ducommun is a Carson, Calif.-based provider of engineering and manufacturing services to the aerospace and defense industry.

ENDO PHARMACEUTICALS: New bonds and bank debt via Morgan Stanley and Bank of America Merrill Lynch; to help fund its acquisition of American Medical Systems, expected to close in third quarter of 2011; Endo is a Chadds Ford, Pa.-based specialty health care company.

GGC SOFTWARE HOLDINGS INC.: $560 million senior notes and $1.115 billion credit facility; Credit Suisse Securities (USA) LLC, Bank of America Merrill Lynch, Morgan Stanley Senior Funding, Inc., Royal Bank of Canada, Deutsche Bank Securities Inc. are leading the financing; to fund the LBO of Lawson Software by Golden Gate Capital and Infor Global Solutions, expected to close in third quarter of 2011; St. Paul, Minn.-based enterprise software developer.

INTERNATIONAL WIRE GROUP, INC.: $110 million senior secured notes due 2015; to fund one-time distribution to stockholders and option holders; consent solicitation via Wells Fargo Securities, LLC expires on April 1; Camden, N.Y.-based electrical wire manufacturer.

KRUGER INC.: Up to C$210 million PIK toggle notes (upsized from C$200 million); GMP Securities; project finance; Montreal-based paper products manufacturer.

LODGENET INTERACTIVE CORP.: Possible debt financing that could include bonds; to repay bank debt; Sioux Falls, S.D.-based provider of interactive media and connectivity services to the hospitality industry and interactive patient education, information and entertainment systems to health-care facilities; ($435 million six-year senior secured second-lien notes, B3/B/, via Bank of America Merrill Lynch, J.P. Morgan Securities LLC, put on hold Sept. 28 as company announced it is seeking alternatives).

NAL OIL & GAS: C$150 million to C$250 million notes; RBC Capital Markets, BMO Nesbitt Burns; Calgary, Alta., trust acquires interests in Canada's upstream conventional oil and gas industry.

NORWEGIAN ENERGY CO. ASA (NORECO): NOK 550 million to 600 million senior secured bonds due 2016; First Securities, Pareto Securities (joint managers), SEB Merchant Banking (co-manager) for financing of Noreco's share of the costs associated with the Oselvar development and other petroleum activities on the Norwegian continental shelf; Stavanger, Norway-based energy company.

PREMIER FOODS PLC (Ba2/BB/BB): New high-yield bonds; to settle swap agreements, diversify sources of funding and reduce reliance on bank debt; St. Albans, England-based food producer; possibly launching during Feb. 21 week.

SI ORGANIZATION INC.: $175 million senior subordinated notes; J.P. Morgan Securities LLC; to help fund $815 million to help fund Veritas Capital's acquisition of Lockheed Martin Corp.'s Enterprise Integration Group; Valley Forge, Pa.-based provider of engineering, integration services, modeling, simulation, analysis and risk mitigation services to the U.S. intelligence community; possible early 2011 business.

SILGAN HOLDINGS INC.: $400 million senior subordinated notes (with the ability to issue $500 million senior notes) and $4 billion credit facility; Bank of America Merrill Lynch; to help fund the acquisition of Graham Packaging Co. Inc., expected to close in the third quarter of 2011; Silgan is a Stamford, Conn.-based manufacturer of consumer goods packaging products.

ROADSHOWS

Pricing May 16 week: CHRYSLER GROUP LLC and CORPORATE CO-ISSUER $2.5 billion; Bank of America Merrill Lynch, Goldman Sachs & Co., Citigroup Global Markets Inc., Morgan Stanley & Co. Inc.

Starts early May 16 week: JBS USA, LLC and JBS USA FINANCE, INC. $1 billion; Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Banco do Brasil, Barclays Capital Inc., Morgan Stanley & Co.

Pricing May 16 week: ALPHA NATURAL RESOURCES, INC. $1.5 billion; Morgan Stanley & Co. Inc., Citigroup Global Markets Inc.

Pricing May 16 week: CONNACHER OIL AND GAS LTD. $900 million; Credit Suisse Securities (USA) LLC, RBC Capital Markets.

May 16 week: GULF OFFSHORE LOGISTICS, LLC $110 million; Global Hunter Securities, Knight Capital.

Started May 16: ELDORADO RESORTS LLC and ELDORADO CAPITAL CORP. $180 million; Bank of America Merrill Lynch.

Started May 16: KINDRED ESCROW CORP./KINDRED HEALTHCARE INC. $550 million; J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. Inc.

May 16-19: XERIUM TECHNOLOGIES, INC. $240 million; Citigroup Global Markets Inc., Jefferies & Co.

May 16-19: GALA CORAL GROUP, LTD. £650 million; Credit Suisse AG, Barclays plc, Deutsche Bank AG, Goldman Sachs International, Morgan Stanley, HSBC.

May 16-24: FORBES ENERGY SERVICES LTD. $255 million; Jefferies & Co.

Started May 17: INTEGRA TELECOM HOLDINGS, INC. $260 million; J.P. Morgan Securities LLC, Morgan Stanley & Co. Inc.

Started May 17: EXOPACK HOLDING CORP. $225 million; Goldman Sachs & Co., Bank of America Merrill Lynch.

Started May 17: FLINT ENERGY SERVICES LTD. C$200 million; Credit Suisse Securities (USA) LLC, BMO Capital Markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.