High Yield Calendar: $4.65 billion and €250 million deals being marketed

Dec. 2 Week

FOREST LABORATORIES, INC.: $1 billion senior notes due 2021; Morgan Stanley & Co. LLC (bill and deliver, joint books), BofA Merrill Lynch (joint books), Credit Suisse Securities (USA) LLC, Fifth Third Securities, J.P. Morgan Securities LLC, U.S. Bancorp Investments Inc. (co's), Rule 144A; non-callable; to fund a proposed $400 accelerated share repurchase program and for general corporate purposes, including potential acquisitions and additional share repurchases; New York-based pharmaceutical company; guidance in the low 5% range; pricing expected Thursday.

ULTRA PETROLEUM CORP.: $400 million senior notes due 2018; Goldman Sachs & Co., Citigroup Global Markets Inc., Wells Fargo Securities LLC, J.P. Morgan Securities LLC, CIBC World Markets; Rule 144A with registration rights and Regulation S; non-callable for two years; to fund a portion of the purchase price of its recently announced Uinta Basin acquisition; Houston-based independent exploration and production company; early guidance 6% to 6¼%; pricing expected Dec. 2 week.

ALTICE $1.685 billion equivalent notes: ALTICE FINANCING SA: $1.285 billion equivalent eight-year senior secured notes in dollar- and euro-denominated tranches, non-callable for three years, and ALTICE FINCO SA: $400 million 10-year senior unsecured notes, non-callable for five years; Goldman Sachs International (bill and deliver, global coordinator), Morgan Stanley (global coordinator), Barclays, Credit Agricole CIB, Deutsche Bank (joint bookrunners); Rule 144A for life and Regulation S; to fund the acquisition of Tricom and Orange DR; Luxembourg-based telecommunications company with operations in Israel; London roadshow started Dec. 2; U.S. roadshow starts Dec. 3.

SGL CARBON SE: €250 million senior secured notes due Jan. 15, 2021; Deutsche Bank (bill and deliver, joint books), Credit Suisse, Commerzbank, LBBW (joint books), BayernLB, HSBC (co's); Regulation S only; non-callable for three years; to refinance the floating-rate notes due 2015 and the Malaysian bank facilities; Wiesbaden, Germany-based carbon products manufacturer; roadshow Dec. 3-5.

PACNET LTD.: $350 million five-year senior secured notes (expected ratings B2/B); DBS Bank, Deutsche Bank, Goldman Sachs, Standard Chartered; Rule 144A and Regulation S; non-callable for three years; to refinance the 2015 notes; Hong Kong-based telecommunications company; roadshow Nov. 27 in Singapore, Nov. 28 in Hong Kong, Nov. 29 in London, Dec. 2-6 in the United States.

URANIUM ONE INC.: $350 million non-convertible senior notes due in 2018; Deutsche Bank, Sberbank, Societe Generale; Rule 144A/Regulation S; proceeds to repurchase existing convertible debentures and for general corporate purposes; Toronto-based uranium mining company with operations in Kazakhstan and South Africa.

Dec. 9 Week

FLY LEASING LTD.: $250 million seven-year senior notes; Jefferies (sole); SEC registered; callable after three years at par plus 75% of the coupon; for general corporate purposes including the acquisition of future aircraft; Dublin-based aircraft lessor; commercial jet aircraft lessor; roadshow through the end of the Dec. 2 week; pricing early Dec. 9 week.

OPAL ACQUISITION, INC. (ONE CALL CARE MANAGEMENT): $610 million senior notes due 2021; BofA Merrill Lynch, RBC Capital Markets, Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., Jefferies LLC (joint); Rule 144A for life and Regulation S; non-callable for three years; to repay debt, to fund the acquisition of Align Networks, to refinance debt of Align and its subsidiaries and for other general corporate purposes; issuing entity is an affiliate of sponsors Apax Partners, LP and Apax Partners LLP, formed to acquire OC Medical Holdings, Inc. (One Call Care Management), a New York-based provider of specialized cost containment services to the workers' compensation industry; roadshow Dec. 4-10; pricing expected Dec. 10.

SALIX PHARMACEUTICALS LTD.: $750 million senior notes (B2/B); Jefferies LLC; also $1.35 billion credit facility that launched on Dec. 3; 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; bond roadshow expected to start Dec. 9.

Expected December Business

ALPHABET HOLDING CO., INC. (NBTY, INC.): $450 million add-on to the 7¾%/8½% PIK toggle notes due Nov. 1, 2017 (/B-/); to fund a dividend and pay consent fee (the deal was announced in conjunction with the launch of a consent solicitation via Barclays; the early deadline for the consents is Dec. 10); vitamin company is based in Ronkonkoma, N.Y.; original $550 million priced at 98 with a cash yield of 8.242% and a PIK yield of 8.776% in October 2012.

On The Horizon

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.

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 HEATH SOLUTIONS INC.: $375 million notes; also $2.225 billion senior secured credit facility via Deutsche Bank Securities Inc. and RBC Capital Markets ($375 million term loan B to launch Dec. 4); to repay some of the company's existing debt and fund the early repurchase of its convertible notes due April 2015 (debt was incurred in connection with Endo's acquisition of Paladin Labs Inc.); 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.

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.

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.

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

Starts Nov. 27: PACNET $350 million; DBS, Deutsche Bank, Goldman Sachs, Standard Chartered.

Pricing expected Dec. 5: FOREST LABORATORIES $1 billion; Morgan Stanley, BofA Merrill Lynch.

Started Dec. 2: ALTICE $1.685 billion; Goldman Sachs, Morgan Stanley, Barclays, Credit Agricole CIB, Deutsche Bank.

Through Dec. 2 week: FLY LEASING $250 million; Jefferies.

Dec. 3-5: SGL CARBON €250 million; Deutsche Bank, Credit Suisse, Commerzbank, LBBW.

Dec. 4-10: OPAL ACQUISITION (ONE CALL) $610 million; BofA Merrill Lynch, RBC, Morgan Stanley, Deutsche Bank, Jefferies.

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