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Published on 10/7/2010 in the Prospect News High Yield Daily.

High Yield Calendar: $1.795 billion deals marketed

OCTOBER 11 WEEK

EVRAZ INC. NA and EVRAZ INC. NA CANADA: $650 million senior notes due 2017 (/B/); Credit Suisse, Barclays Capital Inc. (joint), BNP Paribas, Commerzbank, Credit Agricole CIB, Deutsche Bank Secureities, ING, Natixis Bleichroeder, RBS Securities, SG CIB, UBS Investment Bank, UniCredit; Rule 144A for life; non-callable for four years; to refinance existing intercompany debt owed to parent Evraz Group SA; Portland, Ore.-based steel company with operations in the United States and Canada; roadshow starts Oct. 4 week; pricing Oct. 11 week.

AIR MEDICAL GROUP HOLDINGS, INC. and AMGH MERGER SUB, INC.: $545 million senior secured notes due 2018 (expected ratings B2/B); Barclays Capital, Bank of America Merrill Lynch, Citigroup, Morgan Stanley; Rule 144A for life; non-callable for four years; to fund LBO of the company by Bain Capital; West Plains, Mo.-based independent provider of emergency air medical services; roadshow starts Oct. 7 in New York, Oct. 8 in Boston, Oct. 12 in mid-Atlantic states, Oct. 13 in the Midwest and San Francisco, Oct. 14 in Los Angeles; pricing Oct. 15.

TUTOR PERINI CORP.: $300 million senior notes due 2018; Deutsche Bank Securities Inc.; Rule 144A/Regulation S; for general corporate purposes, which may include acquisitions and stock repurchases; Sylmar, Calif.-based civil and building construction company; roadshow starts Oct. 11.

CENTRAL CHINA REAL ESTATE LTD: $300 million guaranteed senior notes with an expected five-year to seven-year maturity; Deutsche Bank, ING, Nomura; Rule 144A/Regulation S; proceeds for general corporate purposes and to fund new property projects, including construction costs and land premium; Hong Kong-based developer; pricing expected Oct. 14 following Asia, Europe and U.S. roadshow.

ON THE HORIZON

CABLEVISION SYSTEMS CORP.: New high-yield bonds as part of approximately $1 billion in bank and bond debt financing to fund the $1.365 billion acquisition of Bresnan Communications, expected to close late 2010 or early 2011; Bank of America Merrill Lynch and Citigroup are the lead banks on the debt; Cablevision is a Bethpage, N.Y.-based telecommunications, media and entertainment company.

CLEARWATER PAPER CORP.: $350 million senior notes; Bank of America Merrill Lynch; to help fund its acquisition of Cellu Tissue Holdings Inc., expected in the fourth quarter of 2010; Clearwater is a Spokane, Wash.-based manufacturer of consumer tissue, bleached paperboard and wood products.

GRIFOLS SA: $1.1 billion high-yield notes; also $3.4 billion credit facility (Ba3/BB) via Deutsche Bank, Nomura, BBVA, BNP Paribas, HSBC and Morgan Stanley, expected to launch during July 2010; to help fund the company's acquisition of Talecris Biotherapeutics Holdings Corp.; Grifols is a Barcelona, Spain-based health care company and producer of plasma protein therapies. Talecris is a Research Triangle Park, N.C.-based biotherapeutics products company.

HAWKEYE GROWTH LLC (HAWKEYE RENEWABLES): Up to $150 million first-lien notes; PrinceRidge Group; proceeds, along with cash on hand, to refinance debt; Ames, Iowa-based ethanol producer.

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 solutions 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 Inc., put on hold Sept. 28 as company announced it is seeking alternatives).

THE MANITOWOC CO., INC.: $500 million minimum senior unsecured notes; SEC registered; to refinance a portion of its term loans under its senior secured credit facility; Manitowoc, Wis.-based manufacturer cranes and lift equipment.

MEDASSETS INC.: $360 million notes; J.P. Morgan Securities Inc., Barclays Capital Inc., also $750 million facility; to fund acquisition of Broadlane Group and refinance existing bank debt, transaction expected to close before end of 2010; MedAssets is an Alpharetta, Ga.-based provider of technology enabled products and services for hospitals, health systems and ancillary health care providers.

PAETEC HOLDING CORP.: $420 million senior secured notes; Deutsche Bank, Bank of America Merrill Lynch; to help fund the acquisition of Cavalier Telephone Corp. from M/C Venture Partners, expected to close in late 2010 or early 2011; Paetec is a Fairport, N.Y.-based provider of business communications.

PRESTIGE BRANDS HOLDINGS PLC: bank and/or bond financing to help fund the $190 million acquisition of Blacksmith Brands Holdings Inc., expected to close in the fourth quarter of 2010; Irvington, N.Y.-based marketer of branded over-the-counter health-care products, household cleaning products and personal care products.

RADIO ONE, INC.: $100 million senior notes due 2017 (Caa2/CCC+); to finance the purchase of an increased stake in TV One; also new $400 million credit facility, via Deutsche Bank Securities Inc.; Lanham, Md.-based radio broadcaster targeting African American audiences in urban communities.

SABRA HEALTH CARE REIT INC.: $225 million notes; also $100 million revolver; proceeds, along with Sun Healthcare Group Inc.'s $285 million credit facility, to repay Sun's 9 1/8% senior subordinated notes and the outstanding term loans under Sun's existing credit facility, and for general corporate purposes.

THERMADYNE HOLDING CORP.: New senior unsecured notes as part of financing for the acquisition of the company by Irving Place Capital, valued at $422 million, expected to close in December; also new revolver; financing is backed by a bridge loan from Jefferies & Co. and RBC Capital Markets; St. Louis-based manufacturer and marketer of metal cutting and welding products and accessories.

ROADSHOWS

Oct. 4 week: EVRAZ INC. NA and EVRAZ INC. NA CANADA $650 million; Credit Suisse, Barclays Capital.

Starts Oct. 7: AIR MEDICAL GROUP HOLDINGS, INC. and AMGH MERGER SUB, INC. $545 million; Barclays Capital, Bank of America Merrill Lynch, Citigroup, Morgan Stanley.

Starts Oct. 11: TUTOR PERINI CORP. $300 million; Deutsche Bank Securities Inc.

Pricing Oct. 14: CENTRAL CHINA REAL ESTATE LTD $300 million; Deutsche Bank, ING, Nomura.


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