High Yield Calendar: $2.73 billion, €250 million and C$125 million being marketed

Feb. 4 Week

COOKE AQUACULTURE, INC.: $250 million senior notes due February 2021; Credit Suisse Securities (USA) LLC; Rule 144A and Regulation S for life; callable in four years at par plus 50% of the coupon; three-year 35% equity clawback; 101% poison put; to repay revolver, a portion of the term loan and for general corporate purposes; Blacks Harbour, New Brunswick-based privately owned fish producer; roadshow started Jan. 29.

HORNBACH-BAUMARKT AG: €250 million of senior notes due 2020 (Ba2/BB+); Commerzbank, HSBC, UniCredit; to refinance 6 1/8% notes due 2014; Germany-based do-it-yourself retailer; pricing expected early Feb. 4 week.

MILLENNIUM OFFSHORE SERVICES SUPERHOLDINGS LLC: $225 million five-year senior secured notes (B2); Goldman Sachs; Rule 144A and Regulation S; non-callable for two years; to fund a dividend to shareholders; Ajman, United Arab Emirates, rig provider for the offshore oil and gas industry; pricing expected Feb. 6.

ALLIANCE GRAIN TRADERS INC.: C$125 million of five-year senior secured second-lien notes (/B/DBRS: B); Scotia Capital Inc., CIBC World Markets Inc. and GMP Securities LP (lead); AltaCorp Capital Inc. and Canaccord Genuity Corp. (co-managers); Rule 144A-, Regulation S; non-callable for three years; 101% change-of-control put; proceeds to repay debt under existing credit facilities; Regina, Sask.-based pulse and staple food processor and distributor; roadshow Feb. 1-5; private placement.

TERVITA CORP.: $1.1 billion equivalent senior secured notes due November 2018 (expected ratings B2/B-), in dollar- and Canadian dollar-denominated tranches, sizes to be determined; RBC Capital Markets (bill and deliver, joint global coordinator, physical bookrunner), Goldman Sachs & Co. (joint global coordinator, joint bookrunner), TD Securities, Deutsche Bank Securities Inc. (joint bookrunners); Rule 144A and Regulation S for life; callable in November 2015 at par plus 50% of the coupon; 35% equity clawback at par plus the coupon until November 2015; proceeds, along with new $500 million term loan B and C$300 million revolver, to repay all outstanding debt under the company's existing senior secured credit facility; Calgary, Alta.-based environmental management company serving the oil and gas industry; roadshow started Jan. 30; pricing late in the Feb. 4 week.

CANTOR COMMERCIAL REAL ESTATE CO., LP. and CCRE FINANCE CORP.: $250 million senior notes due 2018 (/B/); Deutsche Bank Securities Inc. (left books), Bank of America Merrill Lynch, Cantor Fitzgerald (joint books), CastleOak Securities, US Bancorp (co's); Rule 144A for life; non-callable for two years; to put cash on the balance sheet and for general corporate purposes; New York-based commercial real estate finance company; roadshow started Feb. 1; pricing Feb. 7.

FAIRPOINT COMMUNICATIONS, INC.: $300 million 6.5-year senior secured notes; Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, Jefferies & Co. (joint), Stifel Financial, Oppenheimer, Drexel Hamilton (co's); Rule 144A for life and Regulation S; non-callable for three years; also a new $725 million credit facility via Morgan Stanley, Credit Suisse, Jefferies; to repay existing term loan; Charlotte, N.C.-based provider of broadband internet access, telephone, television and data services; pricing late Feb. 4 week.

FERREXPO PLC: Expected $500 million five-year senior notes (single B ratings expected); Morgan Stanley, Credit Suisse (joint); Rule 144A and Regulation S; for general corporate purposes; Ukraine-based iron or company; roadshow started Jan. 31 in Europe, Feb. 4 in the United States.

Expected First Quarter Business

AVIS BUDGET GROUP INC.: High-yield bonds backing the acquisition of Zipcar Inc. in a transaction valued at about $500 million; Avis is a Parsippany, N.J.-based provider of vehicle rental services; Zipcar is a Cambridge, Mass.-based car sharing network; expected January business.

MCGRAW-HILL EDUCATION: $550 million notes and $1.325 billion credit facilities; Credit Suisse Securities (USA) LLC, Morgan Stanley, Jefferies & Co., UBS Investment Bank, Nomura and BMO Capital Markets Corp. are leading the financing; to help fund the acquisition of McGraw-Hill Education by Apollo Global Management LLC from McGraw-Hill Cos.; McGraw-Hill Education is a New York-based digital learning company; expected January business.

PETAQUILLA MINERALS LTD.: Second-lien notes, size to be determined, as part of an approximately $210 million debt financing that will include between $90 million and $140 million of first-lien bank debt; Global Hunter Securities; to refinance debt and to finance capital expenditures related to the Lomero-Poyatos mine in Spain; Vancouver, B.C.-based copper exploration company; the financing was previously in the market as a single $210 million tranche of five-year senior secured notes, announced in July 2012; expected early 2013 business.

On The Horizon

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.

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.

GETCO HOLDING CO. LLC: $550 million second-lien notes and $470 million credit facility being led by Jefferies Finance LLC; to fund the merger with Knight Capital Group Inc., expected to close during the second quarter of 2013; Getco is a Chicago-based buyer and seller of securities.

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.

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.

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.

PINNACLE ENTERTAINMENT INC.: $315 million senior notes and $2.73 billion credit facility in a financing led by J.P. Morgan Securities LLC and Goldman Sachs Lending Partners LLC; to fund the acquisition of Ameristar Casinos Inc., expected to close in the third quarter of 2013; Pinnacle is a Las Vegas-based casino gaming company.

PVH CORP.: $4.33 billion new debt comprised of senior notes and a credit facility; Barclays, Bank of America Merrill Lynch, Citigroup Global Markets Inc.; notes are backed by a bridge loan commitment; to fund the cash portion of the acquisition of Warnaco Group Inc., expected to close early in 2013, and refinance debt at both companies and provide liquidity going forward; PVH is a Bridgewater, N.J.-based apparel 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.

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.

Roadshows

Started Jan. 29: COOKE AQUACULTURE $250 million; Credit Suisse.

Feb. 1-5: ALLIANCE GRAIN TRADERS C$125 million; Scotia, CIBC, GMP.

Started Jan. 30: TERVITA $1.1 billion; RBC, Goldman Sachs, TD, Deutsche Bank.

Starts Jan. 31: FERREXPO; Morgan Stanley, Credit Suisse.

Pricing late Feb. 4 week: FAIRPOINT COMMUNICATIONS $300 million; Morgan Stanley, Credit Suisse, Jefferies.

Started Feb. 1: CANTOR COMMERCIAL REAL ESTATE $250 million; Deutsche Bank, Bank of America Merrill Lynch, Cantor Fitzgerald.

Pricing expected Feb. 6: MILLENNIUM OFFSHORE $225 million; Goldman Sachs.

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