High Yield Calendar: $2.4 billion deals being marketed

Nov. 18 Week

BRAND ENERGY & INFRASTRUCTURE SERVICES, INC.: $550 million senior notes due 2021 (Caa1/CCC+); Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Goldman Sachs & Co., UBS Investment Bank, HSBC, ING, Natixis, RBS Securities Inc., SG CIB, SunTrust Robinson Humphrey Inc. (joint); Rule 144A for life; non-callable for three years; proceeds, together with term loan proceeds, to fund the acquisition of Brand Energy and Harsco Infrastructure by Clayton, Dubilier & Rice; Atlanta-based provider of specialized industrial services to the energy and infrastructure sectors; price talk 8% to 8¼%, pricing Friday.

DFC GLOBAL CORP. (DOLLAR FINANCIAL) $650 million equivalent senior notes (B2/B), tranche sizes to be determined: NATIONAL MONEY MART CO.: Canadian dollar-denominated eight-year notes via Credit Suisse Securities (USA) LLC (lead left books), BMO Securities, Barclays, SG CIB (books), price talk 9¼% area; also DF UK HOLDINGS PLC: Sterling-denominated seven-year notes via Deutsche Bank Securities Inc. (lead left books), Credit Suisse, Barclays, Nomura, SG (books), price talk 8¾% to 9%; both tranches Rule 144A and Regulation S for life, and non-callable for three years; to refinance the 10 3/8% senior notes; Berwyn, Pa.-based financial services company; books close at 9 a.m. ET on Friday.

KRATOS DEFENSE & SECURITY SOLUTIONS, INC.: $675 million senior secured second-lien notes due 2020 (expected ratings B3/B); Wells Fargo Securities LLC (left books), SunTrust Robinson Humphrey Inc. (joint books); Rule 144A and Regulation S with registration rights; callable after three years at par plus 75% of the coupon; to fund the repayment of certain existing debt, including the repurchase of the 10% senior notes; San Diego-based high-tech defense contractor; investor call 12:30 p.m. ET Thursday; pricing Friday afternoon.

SALAMANDER ENERGY: $150 million senior callable bonds due 2020 (unrated); Pareto Securities (sole); for general corporate purposes, including debt refinancing, including $50 million under the Kerendan bridge facility and (at Salamander's discretion) up to $100 million of company's convertible bonds; London-based independent upstream oil and gas exploration and production company; initial guidance is 9% to 9½%; roadshow started Nov. 18 in Singapore, Nov. 21 in London.

AFREN PLC: Senior seven-year secured notes (/B+/B+), amount to be determined; Citigroup (global coordinator, joint lead manager, joint bookrunner), BofA Merrill Lynch, Credit Suisse (joint lead managers and joint bookrunners); Rule 144A and Regulation S for life; non-callable for three years; to fund the tender for the notes maturing in 2016 and 2019 (a clause in the credit agreement allows for the security on the notes to fall away upon full repayment of the 2016 and 2019 notes); London-based oil and gas exploration, development and production with operations in Africa and the Middle East; international roadshow Nov. 19-22.

BLUEWATER ENERGY SERVICES BV: $375 million to $425 million six-year notes; Pareto Securities, DNB Markets; Rule 144A; non-callable for three years; to refinance $360 million Libor plus 300 bps notes; Hoofddorp, Netherlands-based company designs, engineers, constructs, installs and delivers floating production, storage and offloading and single point mooring systems; initial guidance is 8¾% to 9¼%; roadshow starts Nov. 20.

Nov. 25 Week

DEUTSCHE RASTSTATTEN GRUPPPE IV GMBH (TANK & RAST GMBH MOTORWAY): €460 million seven-year senior second-lien notes; Deutsche Bank (bill and deliver, global coordinator), Barclays (global coordinator), Commerzbank, Credit Suisse, ING, Nomura, RBC, UniCredit (joint books); Rule 144A and Regulation S; non-callable for three years; to refinance debt incurred in the acquisition of the company by an infrastructure investment vehicle owned by Deutsche Bank from Terra Firma Capital Partners in 2007 (financing also includes €1.4 billion in bank loans and €250 million in PIK debt); Bonn, Germany-based filling station operator; roadshow Nov. 21-26.

Expected November Business

ACTUANT ELECTRICAL: $60 million senior subordinated notes; also $150 million credit facility led by RBC Capital Markets and NXT Capital, to launch at a Nov. 12 bank meeting; to help fund the buyout of the company by Sentinel Capital Partners from Actuant Corp.; Actuant Electrical is a Menomonee Falls, Wis.-based provider of products for the retail do-it-yourself, marine, industrial OEM and wholesale electrical markets.

GOOD SAM ENTERPRISES LLC: New high-yield notes; to fund the tender for the 11½% senior secured notes due 2016, via dealer manager Goldman Sachs & Co., early deadline Nov. 19; Lincolnshire, Ill.-based specialty retailer of RV-related products and a member-based direct marketing organization targeting recreational vehicle owners and outdoor enthusiasts.

On The Horizon

ALBEA: $150 million five-year senior secured PIK toggle notes (expected ratings Caa2/CCC+); JPMorgan, BofA Merrill Lynch (joint); non-callable for one year; to fund a dividend; Gennevilliers, France-based personal care products company.

BUENA VISTA GAMING AUTHORITY: $220 million eight-year senior secured notes; Credit Suisse Securities (USA) LLC, BofA Merrill Lynch (joint); Rule 144A and Regulation S for life; callable in four years at par plus 50% of the coupon; annual mandatory redemption offer of 50% of available funds starting at 103; 101% poison put; to fund construction of the Buenavue Casino; Ione, Calif.-based tribal gaming firm.

COMMUNITY HEALTH SYSTEMS INC. $4.58 billion bridged debt: $2.205 billion senior secured and $2.375 billion senior unsecured; BofA Merrill Lynch, Credit Suisse Securities (USA) LLC; to help fund its acquisition of Health Management Associates Inc., expected to close in the first quarter of 2014; Community Health is a Nashville, Tenn.-based hospital company. Health Management is a Naples, Fla.-based owner and manager of hospitals and ambulatory surgery centers.

DARLING INTERNATIONAL INC.: $1.3 billion bridge loan; also $2.55 billion credit facility via J.P. Morgan Securities LLC and Goldman Sachs Bank USA; to help fund the acquisition of Vion Ingredients, expected to close in January 2014; Darling is an Irving, Texas-based provider of rendering, recycling and recovery solutions to the food industry; Vion Ingredients is a Son en Breugel, the Netherlands-based developer and producer of specialty ingredients from animal origin for applications in pharmaceuticals, food, feed, pet food, fertilizer and bio-energy.

ENDO HEALTH SOLUTIONS INC.: $1.3 billion senior notes backed by a bridge loan led by RBC Capital Markets and Deutsche Bank Securities Inc.; also a $2.6 billion credit facility; to repay some of the company's existing debt and fund the early repurchase of its convertible notes due April 2015 (debt offers are coming in connection with Endo's planned acquisition of Paladin Labs, Inc., expected to close during the first half of 2014); Endo is a Malvern, Pa.-based specialty health-care 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; BofA 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.

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.

IONA ENERGY CO. (UK) LTD. (IONA ENERGY INC.): $250 million to $300 million callable senior secured bonds; Pareto Securities; to refinance credit facility, of which approximately $139 million is drawn, and to partially retire its existing structured energy derivative transaction, also to fund the delivery of its Orlando and Kells projects to first oil, as well as mature and accelerate its other pipeline of development opportunities; Calgary, Alta.-based oil and gas exploration, development and production company focused on oil and gas development in the United Kingdom's North Sea.

JARDEN CORP.: $795 million bonds and bank loans, sizes to be determined; to help fund its acquisition of Yankee Candle Investments LLC from Madison Dearborn Partners LLC for $1.75 billion in cash, expected to close early in the fourth quarter of 2013; Jarden is a Rye, N.Y.-based provider of consumer products; Yankee Candle is a South Deerfield, Mass.-based designer, manufacturer, wholesaler and retailer of scented candles.

KENAN ADVANTAGE GROUP: Dollar- and Canadian dollar-denominated unsecured high-yield notes and term loans; to refinance a portion of the senior secured credit facility, a refinancing undertaken in conjunction with the acquisition of Westcan Group, which closed on Nov. 15, 2013; Kenan is a North Canton, Ohio-based freight 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.

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.

ORIONSTONE PTY LTD.: $200 million seven-year secured notes (B3/B); non-callable for three years; Rule 144A for life; Morgan Stanley & Co. LLC bookrunner; proceeds to repay debt; Mackay, Australia-based supplier of heavy earthmoving rental equipment to the infrastructure, oil, gas and mining industries; expected September business.

SALIX PHARMACEUTICALS LTD.: $750 million senior notes and $1.35 billion credit facility, in a financing to be led by Jefferies LLC; proceeds, along with $800 million cash on hand, to fund the acquisition of Santarus Inc., expected to close during the first quarter of 2014; Salix is a Raleigh, N.C.-based developer and marketer of prescription pharmaceutical products; Santarus is a San Diego-based specialty biopharmaceutical company.

SILVERLEAF RESORTS, INC.: $175 million senior secured notes due 2019; Deutsche Bank Securities Inc.; non-callable for three years; to pre-fund development of vacation ownership inventory, to refinance a portion of the company's existing debt, to pay a dividend to the sponsor; Dallas-based resort operator.

U.S. XPRESS ENTERPRISES, INC.: $250 million senior secured second-lien notes due 2020 (Caa1/B-); Wells Fargo Securities LLC (left books), Morgan Stanley & Co. LLC (joint books), Regions Securities LLC (co); Rule 144A and Regulation S with registration rights; callable in three years at par plus 75% of the coupon; to repay the existing senior secured credit facility, receivable securitization facility and other debt; Chattanooga, Tenn.-based truckload carrier and a diversified provider of truckload, intermodal and logistics services; price talk 9½% to 9¾%.

VISANT CORP.: Up to $100 million senior notes and $260 million credit facility; Credit Suisse Securities (USA) LLC; to help fund its acquisition of American Achievement Group Holding Corp., expected to close no later than the second quarter of 2014; Visant is an Armonk, N.Y.-based marketing and publishing company. Jostens is a Minneapolis-based yearbook and scholastic affinity company.

WEYERHAEUSER REAL ESTATE CO. (WRECO): New senior unsecured notes; to help fund the merger with TRI Pointe Homes in a transaction valued at approximately $2.7 billion, anticipated to close in the second quarter of 2014 (a portion of the proceeds to be paid to Weyerhaeuser at closing); Wreco is the homebuilding subsidiary of Federal Way, Wash.-based Weyerhaeuser Co.

Roadshows

Started Nov. 18 in Singapore, Nov. 21 in London: SALAMANDER ENERGY $150 million; Pareto.

Started Nov. 18 in Canada and the United Kingdom, Nov. 19 in the United States: DFC GLOBAL CORP. $650 million equivalent; Credit Suisse, Deutsche Bank, BMO, Barclays, SG, Nomura.

Investor call Nov. 21: KRATOS DEFENSE & SECURITY SOLUTIONS $675 million; Wells Fargo, SunTrust.

Started Nov. 19: AFREN; Citigroup, BofA Merrill Lynch, Credit Suisse.

Starts Nov. 20: BLUEWATER ENERGY SERVICES $375 million to $425 million; Pareto, DNB.

Nov. 21-26: TANK & RAST €460 million; Deutsche Bank, Barclays, Commerzbank, Credit Suisse, ING, Nomura, RBC, UniCredit.

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