High Yield Calendar: $3.22 billion and €2.15 billion deals being marketed

SEPTEMBER 27 WEEK

LOGAN'S ROADHOUSE: $335 million second-lien senior secured notes due 2017 (B2/B-); J.P. Morgan Securities Inc., Credit Suisse Securities; non-callable for four years; to help fund the LBO of the company by Kelso & Co.; Nashville, Tenn.-based restaurant chain; price talk 10¾% area.

LODGENET INTERACTIVE CORP.: $435 million senior secured second-lien notes due 2016 (B3/B/); Bank of America Merrill Lynch, J.P. Morgan Securities Inc. (joint), US Bancorp., Piper Jaffray & Co. (co's); Rule 144A with registration rights; non-callable for three years; 101% poison put; to repay and terminate credit facility, to terminate related interest rate swaps and for general corporate purposes; 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; guidance 10½% to 11%; pricing expected Sept. 27 week.

TPC GROUP LLC: $325 million senior secured notes due 2017; Deutsche Bank Securities Inc., J.P. Morgan Securities Inc. (joint) Macquarie Capital, Oppenheimer & Co. (co's); Rule 144A/Regulation S; to repay all outstanding term loan debt and to fund a distribution to parent TPC Group Inc. for general corporate purposes, which may include dividends, stock repurchases or other returns of capital to its stockholders; Houston-based petrochemical company; roadshow started Sept. 22; pricing Sept. 27 week.

HAPAG-LLOYD AG: $500 million equivalent (dollars and euros) senior notes (/B/) due 2015, non-callable for three years, and due 2017, non-callable for four years; Deutsche Bank, Citigroup, Credit Suisse, Goldman Sachs, JPMorgan, UniCredit; Rule 144A/Regulation S; to refinance debt; Hamburg, Germany-based container shipping company; European roadshow, including London, Frankfurt and Paris, started Sept. 22; U.S. roadshow started Sept. 27 week.

AFFINION GROUP HOLDINGS, INC.: $325 million senior notes due 2015 (expected ratings Caa1/B-); Deutsche Bank Securities Inc., Bank of America Merrill Lynch, Credit Suisse (joint); Rule 144A/Regulation S; non-callable for two years; proceeds, together with cash distributions from Affinion Group, Inc., to repay Holdings' senior unsecured term loan and for general corporate purposes; issuer is the parent of Affinion Group, a Stamford, Conn.-based provider of marketing services and loyalty programs; pricing middle of Sept. 27 week.

ROTECH HEALTHCARE, INC.: $225 million senior secured notes due 2015; Credit Suisse Securities; Rule 144A with registration rights; non-callable for 2.5 years; to refinance senior secured PIK term loan and for general corporate purposes; Orlando, Fla.-based provider of home medical equipment and related products and services; roadshow started Sept. 27.

WEST CORP.: $500 million senior notes due 2018 (B3/B); Deutsche Bank Securities Inc., Wells Fargo Securities, Goldman Sachs & Co., Morgan Stanley & Co. Inc. (joint); Rule 144A/Regulation S; non-callable for four years; to repay bank debt; Omaha-based provider of call-center services, conferencing services and accounts receivable management; expected to price mid-to-late Sept. 27 week.

ARDAGH PACKAGING FINANCE PLC €1.7 billion equivalent: €850 million and $375 million senior secured notes due 2017, non-callable for four years, and €315 million and $310 million senior notes due 2020, non-callable for five years; Citigroup (left books), Credit Suisse, JPMorgan (joint books); Rule 144A/Regulation S for life; to finance acquisition of Impress Cooperative UA, and refinance existing debt; Irish packaging company; U.S. and European roadshows Sept. 27-30.

ATU AUTO-TEILE-UNGER HANDELS GMBH & Co. KG: €450 million senior unsecured notes due April 2014 (B3/B-); Goldman Sachs & Co., Morgan Stanley; to refinance bank debt; Germany-based automobile and truck repair franchisee; roadshow Sept. 27-30.

BREITBURN ENERGY PARTNERS LP/BREITBURN FINANCE CORP.: $250 million senior unsecured notes due 2020 (expected ratings B3/B+); Barclays Capital, Wells Fargo Securities, BMO Nesbitt Burns, RBC Capital; Rule 144A/Regulation S with registration rights; non-callable for five years; to pay down bank debt; Los Angeles-based independent oil and gas limited partnership, focused on the acquisition, exploitation and development of oil and gas properties; roadshow started Sept. 24, investor call Sept. 27; pricing Sept. 30 or Oct. 1.

BLUE ACQUISITION SUB INC. (BURGER KING HOLDINGS INC.): $900 million senior notes due 2018, with a possible euro-denominated tranche based on demand; J.P. Morgan Securities Inc., Barclays Capital Inc. (joint); non-callable for four years; to help fund LBO by 3G Capital Miami-based fast food hamburger chain; pricing late Sept. 27 week or early Oct. 4 week.

SPLIT-RATED

AWAS AVIATION CAPITAL LTD.: $600 million senior secured notes due 2016 (Ba2/BBB-); Goldman Sachs & Co. (left books), Morgan Stanley (active books), Deutsche Bank Securities (passive books), Credit Agricole CIB (co); Rule 144A and Regulation S with registration rights; non-callable for three years; to repay debt, finance purchase of new aircraft and general corporate purposes; Dublin, Ireland-based aircraft leasing company; roadshow Sept. 27 week.

EXPECTED SEPTEMBER BUSINESS

4 DINEEQUITY INC.: $825 million senior notes due 2018; Barclays Capital, Goldman Sachs & Co.; Rule 144A/Regulation S; also $975 million credit facility; to refinance existing debt, including the company's $1.385 billion of notes; DineEquity is a Glendale, Calif.-based owner of Applebee's Neighborhood Grill & Bar and IHOP Restaurants; credit facility launched at Sept. 22 bank meeting, bonds to follow.

ON THE HORIZON

AIR MEDICAL GROUP HOLDINGS: New notes and ABL revolver; Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. Inc.; to fund proposed recapitalization, expected to close during the third or fourth quarter of 2010; Boca Raton, Fla.-based provider of air medical services.

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.

DAVITA INC.: New credit facility and unsecured debt; JPMorgan, Bank of America Merrill Lynch, Credit Suisse; to refinance $1.8 billion bank debt, $700 million 6 5/8% senior notes due 2013 and $850 million senior subordinated notes due 2015, also additional financing for general corporate purposes and other opportunities, including potential acquisitions, share repurchases and other growth investments; Denver-based provider of dialysis services.

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.

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.

REYNOLDS GROUP HOLDINGS LTD.: $3 billion in senior secured notes and senior unsecured notes, decreased from $3.5 billion, with $500 million shifted to the credit facility; Credit Suisse, HSBC and Australia New Zealand Banking Group; to help finance the acquisition of Pactiv Corp.; Reynolds is a Chicago-based manufacturer and supplier of consumer food and beverage packaging and storage products.

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.

ROADSHOWS

Started Sept. 22 in Europe (U.S. roadshow started Sept. 27 week): HAPAG-LLOYD AG: $500 million; Deutsche Bank, Citigroup, Credit Suisse, Goldman Sachs, JPMorgan, UniCredit.

Started Sept. 22: TPC GROUP INC. $325 million; Deutsche Bank, JPMorgan.

Sept. 24-30: BREITBURN ENERGY PARTNERS LP/BREITBURN FINANCE CORP. $250 million; Barclays Capital, Wells Fargo Securities, BMO Nesbitt Burns, RBC Capital.

Pricing middle of Sept. 27 week: AFFINION GROUP HOLDINGS, INC. $325 million; Deutsche Bank Securities, Bank of America Merrill Lynch, Credit Suisse.

Pricing mid-to-late Sept. 27 week: WEST CORP. $500 million; Deutsche Bank Securities Inc., Wells Fargo Securities, Goldman Sachs & Co., Morgan Stanley & Co. Inc.

Started Sept. 27: ROTECH HEALTHCARE, INC. $225 million; Credit Suisse Securities.

Sept. 27-30: ARDAGH PACKAGING FINANCE PLC €1.7 billion; Citigroup, Credit Suisse, JPMorgan.

Sept. 27-30: ATU AUTO-TEILE-UNGER HANDELS GMBH & Co. KG €450 million; Goldman Sachs & Co., Morgan Stanley.

Pricing late Sept. 27 week or early Oct. 4 week: BLUE ACQUISITION SUB INC. (BURGER KING HOLDINGS INC.) $900 million; J.P. Morgan Securities Inc., Barclays Capital Inc.

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