High Yield Calendar: $3.725 billion, €1.005 billion, £430 million being marketed

MARCH 21 WEEK

AGS HOLDINGS LLC and AGS FINANCING CORP. (AMERICAN GAMING SYSTEMS INC.): $150 million senior secured second-lien notes due 2016 (Caa1/B); Imperial Capital; Rule 144A for life; non-callable for 2.5 years; to pay off $134.4 million of debt at AGS LLC, a wholly owned direct subsidiary, and to fund AGS Holdings' future working capital needs; Henderson, Nev.-based provider of equipment and services to the gaming industry; expected to roadshow through the middle of March 21 week.

APERAM: $500 million two-part bond deal (expected Ba1/BB+); tranche A is $250 million senior notes due 2016 with 2½ years of call protection, tranche B is $250 million senior notes due 2018 with four years of call protection; Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Goldman Sachs & Co., ING Financial Markets LLC (joint books); Rule 144A for life, Regulation S; Luxembourg-based stainless steel producer will use proceeds, along with cash on hand, to repay outstanding amounts under its bridge facility with former parent ArcelorMittal; roadshow in New York on March 22, Boston March 23, Los Angeles March 24, pricing Friday morning.

JAMES RIVER ESCROW INC. (JAMES RIVER COAL CO.): $250 million eight-year senior notes; Deutsche Bank Securities Inc., UBS Securities LLC (books), Raymond James & Associates Inc., Brean Murray, Dahlman, Johnson Rice and Macquarie (co-managers); Rule 144A; non-callable for four years; Richmond, Va., coal producer will use proceeds to help fund acquisition of International Resource Partners LP; roadshow started Tuesday, pricing Friday.

ONTEX IV SA: €805 million two-part bond offering: €570 million seven-year senior secured notes (expected ratings Ba3/B+) and €235 million eight-year senior notes (expected ratings B3/B-); Merrill Lynch, Goldman Sachs & Co. (joint books), Credit Suisse Securities, JP Morgan Securities LLC (co-managers); Rule 144A, Regulation S; seven-year bonds will have three years of call protection, eight-year bonds will have four years of protection; Zele, Belgium-based manufacturer of private-label disposable diapers and wipes will use proceeds to repay credit facility borrowings and a vendor loan note; roadshow started Monday, was in London through Tuesday; Paris and Frankfurt on Wednesday, Amsterdam on Thursday.

PHONES4U FINANCE: £430 million senior secured notes due 2018; Goldman Sachs & Co., Deutsche Bank, ING (joint); Rule 144A and Regulation S for life; non-callable for three years; to help fund acquisition of the company by BC Partners from Providence Equity Partners; Newcastle-under-Lyme, England-based mobile telephone retailer; pricing expected late in March 21 week.

PARK-OHIO INDUSTRIES, INC.: $250 million senior subordinated notes due 2021 (B3/CCC+/); Barclays Capital Inc., J.P. Morgan Securities LLC (joint books), KeyBanc Capital Markets (joint lead), Friedman Billings Ramsay, Morgan Joseph (co's); Rule 144A and Regulation S with registration rights; non-callable for five years; to fund tender for 8 3/8% senior subordinated notes due 2014, to repay borrowings under term loan A and term loan B and for general corporate purposes; Cleveland-based provider of supply chain logistics services; price talk 8% area.

EACCESS LTD.: $400 million and €200 million senior notes due 2018, deal size and tranche sizes to be determined; UBS Investment Bank (lead left), ING, Credit Agricole CIB (joint books); Rule 144A and Regulation S for life; non-callable for four years; proceeds, together with borrowings under new senior secured credit facility, to repay and terminate old credit facilities (proceeds to be escrowed pending funding under new credit facility, expected on March 31, 2011); Tokyo-based provider of mobile broadband and voice services; roadshow started March 10; dollar tranche talked in 8¼% area, euro tranche at 125 basis points above the dollar yield; books closed Wednesday for dollar tranche, will close 8 a.m. ET Thursday for euro tranche, Asian books close on Thursday at end of business; pricing after.

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.

MARCH

CRESTWOOD MIDSTREAM PARTNERS LP: $200 million eight-year senior notes; UBS Securities LLC, BNP Paribas Securities Corp., RBC Capital Markets LLC, RBS Securities Inc. (joint books); Rule 144A, Regulation S; non-callable for four years; Houston-based natural gas company will use proceeds to help finance acquisition of midstream assets in the Fayetteville Shale and the Granite Wash plays from Frontier Gas Services for $338 million; roadshow starting Wednesday.

ON THE HORIZON

ALPHA NATURAL RESOURCES INC.: Up to $1.7 billion senior notes, also $1.6 billion credit facility; Citigroup and Morgan Stanley are leading the credit facility and the bridge financing; proceeds, along with cash on hand, to fund the acquisition of Massey Energy Co., expected to close mid-2011, refinance $1.4 billion of Massey debt and refinance existing debt at Alpha, including its term loan A; Abingdon, Va.-based Alpha Natural Resources and Richmond, Va.-based Massey are coal companies.

AMC NETWORKS INC. (RAINBOW MEDIA HOLDINGS LLC): New senior notes and senior secured credit facility to finance the spin-off from Cablevision Systems Corp., expected to be completed by mid-2011; proceeds to refinance all 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.

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.

CANADIAN SATELLITE RADIO HOLDINGS INC.: (parent company of XM CANADA): C$70 million of 9¾% senior notes due 2018; National Bank Financial Inc. and Canaccord Genuity Corp.; to help fund the all-stock merger of XM Canada with Sirius Canada Inc.; settlement expected in May or June on same date as merger closes.

CDW ESCROW CORP.: $1.065 billion senior notes due 2019 (expected ratings Caa1/CCC+); J.P. Morgan Securities LLC, Barclays Capital Inc., Merrill Lynch, Deutsche Bank Securities Inc., Morgan Stanley & Co. Inc. (joint); Rule 144A and Regulation S with registration rights; non-callable for four years; to fund tender offers for 11% notes due 2015 and 11½% PIK toggle notes due 2015; Vernon Hills, Ill.-based provider of technology products and services to business, government and education customers; price talk 8½% area.

CUMULUS MEDIA INC.: $500 million senior notes, also $2.5 million credit facility; J.P. Morgan Securities LLC, UBS Investment Bank and Macquarie Capital; to help fund its acquisition of Citadel Broadcasting Corp. (expected to close by the end of 2011), and refinance outstanding debt of Cumulus, Citadel and Cumulus Media Partners LLC; financing also includes $500 million in equity from Crestview Partners and Macquarie Capital; Cumulus Media is an Atlanta-based radio broadcaster.

EMERGENCY MEDICAL SERVICES CORP.: $950 million senior notes; also $1.725 billion credit facility; debt financing to be led by Barclays Capital Inc., Deutsche Bank Securities Inc., Merrill Lynch, Morgan Stanley & Co. Inc., RBC Capital Markets, UBS Investment Bank; proceeds, along with equity, to fund buyout of the company by Clayton, Dubilier & Rice LLC; Greenwood Village, Colo.-based provider of health care transportation services and outsourced physician services to health care facilities; expected to launch in April 2011.

FIRST DATA CORP.: $750 million minimum senior secured notes; to repay term loans; completion of the bond deal is a condition for an amendment and extension launched March 10, 2011 via Credit Suisse, Citigroup, Deutsche Bank and HSBC (notes transaction must be completed within 90 days of execution of the amendment and extension; Greenwood Village, Colo., provider of electronic commerce and payment services.

GALA CORAL GROUP, LTD.: Up to £600 million senior notes with minimum seven-year tenor; Goldman Sachs & Co. and Royal Bank of Scotland expected to be involved; to repay senior secured bank loans; Nottingham, England-based gaming and off-track betting company; expected early 2011 business.

HECKLER & KOCH GMBH: Expected €100 million notes with five-year to seven-year maturity; Close Brothers Seydler Bank; proceeds, along with liquidity from other assets, to refinance the existing €120 million 9¼% notes due July 15, 2011; Oberndorf, Germany-based small-arms maker; proceeds, along with liquidity from other assets, to refinance its existing €120 million 9¼% notes due July 15, 2011; expected to be completed by the end of the second quarter of 2011.

IGATE CORP.: Up to $700 million senior unsecured notes via Rule 144A or other private placement; backed by $700 million bridge loan from Jefferies Finance LLC and Royal Bank of Canada; to help fund the acquisition of a majority stake in Patni Computer Systems Ltd., a Mumbai, India-based information technology services company, expected to close during the first half of 2011; debt financing also includes $50 million revolver; iGate is a Freemont, Calif.-based integrated technology and operations solutions provider.

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.

KINDRED HEALTHCARE INC.: $550 million senior notes; part of debt financing for planned acquisition of RehabCare Group, Inc., expected to close June 30, 2011; also includes $1.3 billion credit facility; J.P. Morgan Securities LLC, Morgan Stanley, Citigroup are lead banks for financing; Kindred Healthcare is a Louisville, Ky.-based health-care services company.

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

LIZ CLAIBORNE, INC.: New senior secured notes; to fund the tender offer for €155 million of its €350 million 5% notes due 2013, Merrill Lynch and J.P. Morgan Securities LLC dealer managers, early consent date March 22, 2011; New York-based designer and marketer of apparel and accessories.

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 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.

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.

VIKING RIVER CRUISES: Expected $200 million high-yield notes; Credit Suisse; Los Angeles-based river cruise line.

ROADSHOWS

Through mid-March 21 week: AGS HOLDINGS LLC (AMERICAN GAMING SYSTEMS INC.): $150 million; Imperial Capital.

Pricing late March 21 week: PHONES4U FINANCE: £430 million; Goldman Sachs & Co., Deutsche Bank, ING.

Started March 22: JAMES RIVER ESCROW INC.: $250 million; Deutsche Bank Securities Inc., UBS Securities LLC

Starts March 23: CRESTWOOD MIDSTREAM PARTNERS LP: $200 million eight-year senior notes; UBS Securities LLC, BNP Paribas Securities Corp., RBC Capital Markets LLC, RBS Securities Inc.

March 21-24: ONTEX IV SA: €805 million two-part bond offering; Merrill Lynch, Goldman Sachs & Co.

March 22-24: APERAM: $500 million two-part bond deal; Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Goldman Sachs & Co., ING Financial Markets LLC

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