High Yield Calendar: $100 million deals being marketed

In The Market

SPOTTED HAWK DEVELOPMENT LLC: $100 million five-year senior secured notes; Global Hunter Securities (sole books), Knight Capital (co); non-callable for three years; to fund oil production in the Bakken Field Play; New Town, N.D.-based energy exploration and production company; currently being marketed; pricing early September.

Expected September Business

AOT BEDDING SUPER HOLDINGS: $725 million high-yield bonds; Goldman Sachs & Co. also $1.46 billion credit facility via Morgan Stanley Senior Funding Inc. and Goldman Sachs, to launch at a Sept. 6 bank meeting; to help fund the acquisition of the company by Advent International; AOT is the parent company of Hoffman Estates, Ill.-based National Bedding Co. and Atlanta-based Simmons Bedding Co.

CEQUEL COMMUNICATIONS HOLDINGS LLC: $500 million senior unsecured bridge loan priced at Libor plus 700 bps with a 1.25% Libor floor and a par, with 50 bps step-ups every 90 days after closing, subject to a cap of 11% plus 25 bps on Nov. 15 if closing has not occurred; Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Goldman Sachs & Co. and RBC Capital Markets LLC; to be replaced with an equivalent amount of high-yield debt securities; to help fund the buyout of the company by BC Partners and CPP Investment Board, expected to close in the fourth quarter of 2012; St. Louis-based provider of television, high-speed internet and telephony services; expected late third quarter or early fourth-quarter business.

GETTY IMAGES INC.: High-yield bonds backing the LBO of the company by Carlyle Group and management; J.P. Morgan Securities LLC, Barclays, Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. and RBC Capital Markets LLC; financing also includes new credit facility and equity; Seattle-based creator and distributor of still imagery, video and multimedia products; expected late September business.

HERTZ GLOBAL HOLDINGS INC.: Expected $1.95 billion financing; Barclays, Bank of America Merrill Lynch and Deutsche Bank; to help fund the acquisition of Dollar Thrifty Automotive Group Inc., expected to close in mid-to-late October (majority of the financing will be done in bonds but a piece will be done as a term loan within the current credit agreement's Most-Favored-Nation language); Hertz is a Park Ridge, N.J.-based auto and equipment rental company; bonds expected in late September or early October.

LIN TELEVISION CORP.: $265 million senior notes; J.P. Morgan Securities LLC; proceeds, along with a revolver draw, to fund the purchase of broadcast and other related assets for 13 network affiliates owned by New Vision Television; Providence, R.I.-based local television and digital media company; expected early September business.

PAR PHARMACEUTICAL COS. INC.: $490 million senior notes; Bank of America Merrill Lynch, Deutsche Bank Securities Inc., Goldman Sachs & Co., RBC Capital Markets LLC and Citigroup Global Markets Inc.; also $1.13 billion senior secured credit facility; to help fund the LBO of the company by TPG; Woodcliff Lake, N.J.-based specialty pharmaceutical company; expected to launch by mid-September.

PETAQUILLA MINERALS LTD.: $210 million senior secured notes due 2017; Global Hunter Securities; non-callable for three years; to finance capital expenditures related to the Lomero-Poyatos mine in Spain and Molejon mine in Panama, to fund a cash investment in Panama Desarrollo de Infraestructuras, SA in connection with the spin-off of PDI, to terminate its obligations under its existing prepaid forward minerals contracts, with Deutsche Bank, to repay a portion of its existing debt and for general corporate purposes; Vancouver, B.C.-based Petaquilla Copper is a copper exploration company; pricng expected in September.

TDF GROUP (TELEFFUSION DE FRANCE): Euro-denominated high-yield bonds; BNP Paribas expected to be involved; to refinance debt; Paris-based multiple-platform telecommunications company; expected as early as the Sept. 3 week.

On The Horizon

ADVANCED DISPOSAL SERVICES INC.: $830 million senior unsecured notes; Deutsche Bank Securities, Inc., Macquarie Capital, UBS Investment Bank, Barclays, Credit Suisse Securities (USA) LLC are the lead banks on the deal; $830 million senior unsecured bridge loan wrapped up during the week of Aug. 13; financing also includes $300 million revolver and a $1.65 billion term loan; Jacksonville, Fla.-based waste management company; expected Autumn 2012 business.

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.

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; Energy Transfer is a Dallas-based oil and gas pipeline company.

FTS INTERNATIONAL, INC.: $400 million secured notes to repay term loan; company is soliciting consents from holders of its 7 1/8% notes due 2018 to amendments to the indenture governing the notes, Bank of America Merrill Lynch and Citigroup Global Markets Inc. are the solicitation agents; provider of well completion services for the oil and gas industry with corporate offices in Fort Worth and Cisco, Texas; expected Autumn 2012 business.

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. LLC, 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.

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.

OPI INTERNATIONAL: $160 million first-lien senior secured notes due 2017; Global Hunter Securities; non-callable for three years; to help fund the acquisition of offshore construction vessels and refinance debt; Houston-based services provider to the offshore oil and gas industry; expected May business.

PPG COMMODITY CHEMICALS: $660 million notes and $240 million term loan in connection with its spin-off from PPG Industries and merger with Georgia Gulf Corp., expected to occur in late 2012 or early 2013; Barclays and J.P. Morgan Securities LLC have provided the debt commitment; PPG Commodity Chemicals is a producer of chlorine, caustic soda and related chemicals; PPG is Pittsburgh-based coatings and specialty products company.

TPC GROUP INC.: Up to $600 million senior secured notes and $250 million senior secured asset-based revolver; Bank of America Merrill Lynch, Morgan Stanley Senior Funding Inc. and Jefferies Finance LLC; to help fund its acquisition by First Reserve Corp. and SK Capital Partners; expected to close in the fourth quarter; TPC Group is a Houston-based processor and service provider of value-added products derived from niche petrochemical raw materials; expected late third quarter or early fourth quarter business.

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