High Yield Calendar: $5 billion and €300 million deals being marketed

April 2 week

NEW GOLD INC.: $300 million senior notes due 2020 (confirmed B2/expected BB-); J.P. Morgan Securities LLC, Scotia Capital (joint), RBC Capital Markets, UniCredit Bank (co's); Rule 144A and Regulation S for life; non-callable for four years; to fund the redemption of the Canadian dollar-denominated 10% senior secured notes due 2017 and for general corporate purposes; Vancouver, B.C.-based copper and gold mining company; price talk 7% to 7¼%; books close at noon ET on Monday; pricing Monday afternoon.

VANTAGE DRILLING CO.: $775 million fungible add-on to the 11½% senior notes due Aug. 1, 2015; Jefferies & Co., Citigroup Global Markets Inc., RBC Capital Markets (joint), Johnson Rice (co); Rule 144A and Regulation S; make-whole call at Treasuries plus 50 bps until Feb. 1, 2013, then callable at 108.625, 105.75, par on and after Aug. 1, 2014; 35% equity clawback at 111.50 until Feb. 1, 2013; 101% poison put; to purchase the deepwater drillship Dragonquest, together with related rig equipment, to pay for its remaining construction and startup costs and for general corporate purposes; Houston-based energy drilling company; global investor call on Monday; pricing on Monday; original $1 billion issue priced at 96.361 to yield 12½% in July 2010; previous $225 million add-on priced at 107 to yield 8.904% in May 2011.

CENGAGE LEARNING ACQUISITIONS, INC.: $575 million first-lien senior secured notes due 2020 (expected rating B2/B); J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, UBS Investment Bank (joint); Rule 144A and Regulation S for life; non-callable for four years; to repay bank debt; Stamford, Conn.-based provider of print and digital teaching and learning solutions; roadshow started March 26; pricing expected March 30.

HD SUPPLY, INC. $2.625 billion debt: $1.85 billion term loan B and senior secured first-priority notes due 2019, non-callable for three years, via Bank of America Merrill Lynch, Goldman Sachs & Co., Barclays Capital Inc., J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Wells Fargo Securities LLC, UBS Securities Inc. (joint); also $775 million senior secured second-priority notes due 2020, non-callable for four years, via Goldman Sachs, Bank of America Merrill Lynch, Barclays, JPMorgan, Credit Suisse, Deutsche Bank, Wells Fargo, UBS; Rule 144A and Regulation S with registration rights; to refinance the 12% senior notes due 2014, the ABL credit facility and the senior secured term loan; Atlanta-based distributor of building materials and tools; roadshow starts March 29; pricing middle part of April 2 week.

HECKMANN CORP.: $250 million senior notes due 2018 (issuer has a single B credit ratings profile); Jefferies & Co. Inc. (left books), Credit Suisse Securities (USA) LLC, Wells Fargo Securities LLC (joint books); Rule 144A with registration rights; non-callable for three years; proceeds, along with proceeds from a concurrent equity offering, to finance the acquisition of Thermo Fluids Inc.; Coraopolis, Pa.-based provider of total water solutions for the oil and gas E&P industry, environmental services and waste recycling solutions; roadshow starts March 27 and will concluded during the middle part of the April 2 week.

NESCO, LLC and NESCO HOLDINGS CORP.: $275 million senior secured second-lien notes due April 15, 2017 (/B-/); Bank of America Merrill Lynch, Wells Fargo Securities LLC, PNC Capital Markets, Morgan Stanley & Co. LLC, Jefferies & Co., Deutsche Bank Securities Inc. (joint), Stephens Capital Markets Ltd., Fortis Inc. (co's); Rule 144A for life; 101% poison put; callable in 1.5 years at 105; to refinance interim facility used to fund Platinum Equity's acquisition of Nesco, repay borrowings under the ABL facility and fund a special dividend to shareholders; Bluffton, Ind.-based provider of specialty rental equipment for the electric power transmission and distribution industry; pricing mid-to-late April 2 week.

CAPTAIN BIDCO SAS (ASCOMETAL): €300 million senior secured notes due 2020 (expected ratings B3/B-); Bank of America Merrill Lynch (bill and deliver, joint books), Morgan Stanley (joint books); Rule 144A and Regulation S for life; non-callable for four years; 101% poison put; to refinance debt used to acquire Ascometal; Courbevoie, France, steel producer.

April 9 week

PHYSIOTHERAPY ASSOCIATES: $210 million senior notes; Jefferies & Co.; also $125 million credit facility; to help fund the buyout of the company by Court Square Capital; Exton, Pa.-based provider of outpatient rehabilitation; roadshow to start April 9 week.

On the Horizon

ACCO BRANDS CORP.: $270 million senior notes and $920 million credit facility; Barclays Capital Inc., Bank of America Merrill Lynch and BMO Capital Markets Corp.; to fund its merger with MeadWestvaco's office supplies business, to repay ACCO's 10 5/8% senior secured notes and for ongoing working capital; ACCO Brands is a Lincolnshire, Ill.-based office supply manufacturer; merger expected to close during the first half of 2012.

CKX ENTERTAINMENT, INC.: $360 million senior secured second-lien notes due 2019 (/B-/); Goldman Sachs & Co. (left books), Macquarie Group Ltd. (joint books); Rule 144A and Regulation S; non-callable for four years; to fund the purchase of common stock and repay existing credit facility; New York City-based owner and developer of entertainment content; possible business for the first quarter of 2012.

CONSOLIDATED COMMUNICATIONS HOLDINGS INC.: $350 million senior notes; to take out bridge loan backing the acquisition of Roseville, Calif.-based communications services provider SureWest Communications; Morgan Stanley Senior Funding Inc. is leading the debt financing; Mattoon, Ill.-based communications company; acquisition expected to close in the fourth quarter of 2012.

CREATIVE CASINOS, INC.: $355 million senior secured notes due 2019 (expected ratings Caa1/CCC+), decreased from $365 million, callable in three years at par plus ¾ coupon (call protection decreased from four years), price talk 12½% area; Jefferies & Co. Inc., Morgan Stanley & Co. LLC, Capital One Southcoast (joint) also $90 million 7.5-year senior redeemable perpetual preferred stock, non-callable for two years, decreased from $103.093 million; Jefferies, Morgan Stanley (joint); Rule 144A and Regulation S with registration rights; to fund construction of a new casino and hotel located in Lake Charles, La.; Las Vegas-based gaming, lodging and entertainment company (previous overall deal-size was $468.1 million).

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 oil and gas exploration and production company.

ENERGY TRANSFER EQUITY, LP: $3.2 billion high-yield bonds to help complete the $7.9 billion merger of Energy Transfer and Southern Union Co., including repayment of $3.7 billion of Southern Union debt, expected to close in the first quarter of 2012; Energy Transfer is a Dallas-based oil and gas pipeline company.

EP ENERGY CORP. $3 billion notes: $500 million senior secured notes and $2.5 billion senior unsecured notes; Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., BMO Capital Markets Corp., RBC Capital Markets, UBS Securities LLC, Nomura; to fund LBO by Apollo Global Management LLC, Riverstone Holdings LLC, Access Industries Inc. and other investors; Houston-based oil and natural gas exploration and production company; Closing is expected in 2012 second quarter, subject to the completion of the acquisition of El Paso by Kinder Morgan Inc.

GLOBALIVE WIRELESS MANAGEMENT CORP.: Up to $1 billion equivalent in U.S. dollar- and Canadian dollar-denominated notes; Credit Suisse Securities (USA) LLC, Morgan Stanley & Co., BMO Capital Markets Corp.; Rule 144A; to fund expansion of its wireless network and for general corporate purposes; Toronto-based wireless communications services provider; expected during first quarter of 2012.

GREENFIELD ETHANOL INC.: C$175 million of five-year senior second-lien notes (/B+//DBRS: B); Scotia Capital Inc. (lead); Macquarie Capital Markets Canada Ltd., Societe Generale (Canada) and TD Securities Inc. (co-managers); non-callable for three years, 101% change-of-control put; equity clawback for up to 35% in first three years; Canada call at 50 bps over Canadian government benchmark; guarantors GreenField Ethanol (Johnstown) Inc.; GreenField Ethanol (Hensall) Inc.; GreenField Hensall LP; GreenField Hensall GP Inc.; Pharmco Products Inc.; Aaper Alcohol and Chemical Co., Aaper Holdings Inc.; GreenField Ethanol of Quebec Inc. and all future restricted subsidiaries of GreenField.; proceeds to repay debt, to terminate existing interest rate swap agreements and for general corporate purposes; Ontario-based GreenField Ethanol is Canada's largest ethanol company.

M&G FINANCE CORP.: $200 million to $300 million senior secured notes due 2019 (expected B3//BB), downsized from $500 million; J.P. Morgan Securities LLC (sole); Rule 144A and Regulation S for life; non-callable (call protection increased from four years); to finance construction of new PET and PTA production facilities, pay back intercompany debt and fund working capital; Houston-based Mossi & Ghisolfi (M&G) produces polyethylene terephthalate (PET) resin for packaging applications; price talk 10% coupon to yield 12% at an issue price of approximately 90.00.

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.

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

TRINSEO MATERIALS OPERATING SCA: $450 million six-year senior notes (B3/B), non-callable for three years (structure changed from seven-year non-call-four); Barclays Capital Inc. (left lead), Deutsche Bank Securities Inc., BMO Securities, Citigroup Global Markets Inc., Goldman Sachs & Co., HSBC; Rule 144A and Regulation S with registration rights; non-callable for four years; to repay bank debt and for general corporate purposes; diversified chemical company; price talk 12¼% area, including about 3 points of OID; roadshow was in late November 2011; likely business for the first quarter of 2012.

WII COMPONENTS, INC.: New subordinated notes and new credit facility; to fund a tender offer and consent solicitation for its $105.85 million of 10% senior notes due 2012, consent deadline July 7, 2011; St. Cloud, Minn., cabinet manufacturer.

Roadshows

Started March 27: HECKMANN CORP. $250 million; Jefferies & Co. Inc., Credit Suisse Securities (USA) LLC, Wells Fargo Securities LLC.

Started March 27: NEW GOLD INC. $300 million; J.P. Morgan Securities LLC, Scotia Capital.

Starts March 29: HD SUPPLY, INC. $1.85 billion; Bank of America Merrill Lynch, Goldman Sachs & Co., Barclays Capital Inc., J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Wells Fargo Securities LLC, UBS Securities Inc. also $775 million; Goldman Sachs, Bank of America Merrill Lynch, Barclays, J.P. Morgan, Credit Suisse, Deutsche Bank, Wells Fargo, UBS.

Pricing mid-to-late April 2 week: NESCO, LLC $275 million; Bank of America Merrill Lynch, Wells Fargo Securities LLC, PNC Capital Markets, Morgan Stanley & Co., Jefferies & Co., Deutsche Bank Securities Inc.

Starts April 9 week: PHYSIOTHERAPY ASSOCIATES $210 million; Jefferies & Co.

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