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Published on 4/29/2013 in the Prospect News High Yield Daily.

High Yield Calendar: $1.9 billion, €1.9 billion and £1.4 billion deals being marketed

April 29 Week

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; roadshow started April 17.

COMPILER FINANCE SUB INC. and COMPUCOM SYSTEMS, INC.: $250 million eight-year senior notes (Caa1/CCC+); J.P. Morgan Securities LLC, Citigroup Global Markets, BMO Securities, Jefferies & Co., SMBC Nikko Capital Markets Ltd. (joint); Rule 144A and Regulation S for life; callable in three years at par plus 75% of the coupon; to fund the acquisition of CompuCom by Thomas H. Lee Partners LP from Court Square Capital Partners; Dallas-based provider of information technology outsourcing services and products; roadshow started April 29; pricing late April 29 week.

LKQ CORP.: $500 million senior notes due 2023 (/expected BB-/); BofA Merrill Lynch, Wells Fargo, RBS, Mitsubishi (joint); Rule 144A and Regulation S; non-callable for five years; three-year 35% equity clawback; 101% poison put; proceeds, together with a proposed term loan, to repay a portion of the revolver and the existing term loan; Chicago-based provider of alternative vehicle collision replacement products and a leading provider of recycled transmissions and re-manufactured engines; roadshow started April 29; investor call 12:15 p.m. ET on April 30; pricing late April 29 week.

HELLENIC PETROLEUM FINANCE PLC (HELLENIC PETROLEUM PLC): €500 million senior notes due 2017, upsized from €400 million; Alpha Bank, Credit Suisse, Eurobank, HSBC (bill and deliver), NBG (joint); Regulation S; non-callable; to refinance debt and for general corporate purposes; Greek oil refiner; price talk 8%, revised from 8¼% (earlier guidance was 8½%); pricing April 30.

NEW LOOK BONDCO I PLC: £800 million equivalent offering of senior secured notes; fixed- and floating-rate notes; Goldman Sachs & Co, J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Lloyds Bank, RBS Securities Inc.; Rule 144A, Regulation S deal; fixed-rate, British pound sterling-denominated or dollar-denominated notes due 2018, non-callable for two years; floating-rate issue of pound sterling-denominated or euro-denominated notes due 2018, non-callable for one year; Weymouth, England-based apparel and footwear retailer; U.S. and European roadshow April 29-May 2.

GESTAMP FUNDING LUXEMBOURG SA (GESTAMP AUTOMACION S.L.): €750 million equivalent senior secured notes due 2020 (B1/BB), in dollar- and euro-denominated tranches; Deutsche Bank (bill and deliver), BofA Merrill Lynch, Bakia, Barclays, BBVA, Caxia, Commerzbank, Itau, Santander, SG CIB (joint), Sabadell (co); Rule 144A and Regulation S; non-callable for three years; to refinance debt; Abadino, Spain-based engineering company; roadshow started April 29.

WEPA HYGIENE PRODUCTS GMBH: €250 million senior secured notes due May 15, 2020; Deutsche Bank, HSBC; Rule 144A and Regulation S; non-callable for three years; Arnsberg, Germany-based manufacturer of toilet paper, napkins, kitchen towels, handkerchiefs and facial tissues; roadshow started April 29.

KLOECKNER PETAPLAST: €150 million PIK toggle notes due Aug. 15, 2017; Jefferies & Co. (bill and deliver), Goldman Sachs (joint books); Rule 144A and Regulation S for life; callable in one year at 102; to partially refinance preferred equity certificates; Montabaur, Germany-based packaging producer; roadshow starts April 30-May 2.

R&R ICE CREAM PLC: €253 million senior PIK toggle notes due 2018 (/expected CCC+); Barclays, Credit Suisse (joint physical books); Rule 144A and Regulation S for life; callable in one year at 102; to fund the acquisition of R&R Ice Cream; Leeming Bar, North Yorkshire, England-based ice cream manufacturer; roadshow starts April 30.

BOND AVIATION GROUP LTD. (BOND MISSION CRITICAL SERVICES PLC): £200 million six-year senior secured floating-rate notes (expected ratings B2/B); JPMorgan (bill and deliver), KKR, RBS (joint), Commerz (co); Rule 144A and Regulation S for life; callable in one year at 101; to repay debt; Staverton, England helicopter services provider; roadshow April 29-May 1.

TOWERGATE FINANCE PLC £396 million: New five-year senior secured floating-rate notes, non-callable for one year, and an add-on to the 8½% senior secured notes due Feb. 15, 2018, callable on Feb. 15, 2014 at 106.375 (original £230 million priced at par in February 2011); Credit Suisse (bill and deliver), Goldman Sachs, Lloyds TSB (global coordinators), Citigroup, JPMorgan, Morgan Stanley (joint books); to refinance debt; independent insurance broker based in Maidstone, England; roadshow started April 29.

May 6 Week

LBC TANK TERMINALS HOLDING NETHERLANDS BV: $350 million senior notes due 2023 (expected ratings B3/B); RBC Capital Markets (left books), BNP Paribas, Credit Agricole CIB, DNB Nor, ING (joint books); Rule 144A and Regulation S for life; non-callable for five years; three-year 35% equity clawback; 101% poison put; proceeds, together the new term loan, to repay entire amount outstanding under the company's existing credit facilities; one of the largest independent operators of bulk liquid storage terminals and the second largest independent chemical storage company in terms of global storage capacity; roadshow starts April 30; Pricing May 6 week.

SAFWAY GROUP HOLDING LLC: $540 million senior secured second-lien notes due 2018; Goldman Sachs & Co., Wells Fargo Securities LLC, Morgan Stanley & Co. LLC, Barclays, Lazard Capital Markets LLC; Rule 144A and Regulation S; non-callable for two years; to repay second-lien senior secured term loan in full and a portion of the ABL credit facility, to make a distribution to the parent to enable parent to pay a dividend to its equity holders, and for general corporate purposes; Waukesha, Wis.-based provider of scaffolding and access solutions for commercial construction, industrial and infrastructure applications; pricing May 6 week.

On The Horizon

DELL INC. $3.25 billion secured notes: $2 billion first-lien notes and $1.25 billion second-lien notes; also $7.5 billion credit facility; BofA Merrill Lynch, Barclays, Credit Suisse Securities (USA) LLC, RBC Capital Markets; to help fund the acquisition of the company by Michael Dell and Silver Lake, expected to close at the end of the second quarter of 2013; Round Rock, Texas-based provider of technology and business products and services.

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.

GARDNER DENVER INC.: New senior notes backed by a bridge loan; Deutsche Bank Securities Inc., UBS Securities LLC, Barclays, Citigroup Global Markets Inc., RBC Capital Markets, Mizuho Corporate Bank Ltd., KKR Capital Markets; to help fund its purchase by Kohlberg Kravis Roberts & Co. LP, expected to close in the third quarter of 2013; Wayne, Pa.-based manufacturer of industrial compressors, blowers, pumps, loading arms and fuel systems.

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.

GESTAMP AUTOMOCION SA: €750 million equivalent note offering due 2020; dollar- and euro-denominated tranches issued by Gestamp Funding Luxembourg SA; notes will be non-callable for three years; Deutsche Bank Securities Inc.; Abadino, Spain-based company manufactures metal components and structural systems for the automotive industry.

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.

KCA DEUTAG FINANCE PLC: $860 million seven-year senior secured notes (expected ratings B3/B); J.P. Morgan Securities LLC, BofA Merrill Lynch, HSBC, Lloyds TSB, Morgan Stanley & Co. (joint); Rule 144A and Regulation S for life; callable in three years at par plus 75% of the coupon; to repay debt; Aberdeen, Scotland-based oil and gas services 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.

MIDSTATES PETROLEUM CO., INC.: $620 million bridge loan commitment from Morgan Stanley Senior Funding, Inc. and SunTrust Robinson Humphrey, Inc.; part of the $725 million to $750 million financing backing the acquisition of oil-weighted properties in the Western Anadarko Basin in Oklahoma and Texas, expected to close on or about May 31, 2013; transaction includes $100 million to $125 million equity, with the balance coming in the form of debt (Morgan Stanley and SunTrust will also increase the company's borrowing base under its revolver); Houston-based independent exploration and production company.

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.

NIELSEN HOLDINGS NV: $1.3 billion bridge, most or all to be taken out with high-yield bonds, to fund its acquisition of Arbitron Inc.; J.P. Morgan Securities LLC; Nielsen is a New York and Netherlands-based provider of information and insights into what consumers watch and buy; Arbitron is a Columbia, Md.-based media and marketing research firm.

PETAQUILLA MINERALS LTD.: Possible 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; possible 2013 business.

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, BofA 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 April 17: BUENA VISTA GAMING AUTHORITY: $220 million; Credit Suisse, BofA Merrill Lynch.

April 29-May 2: NEW LOOK BONDCO I PLC: £800 million equivalent; Goldman Sachs, JPMorgan, Deutsche Bank Securities, HSBC Securities, Lloyds Bank, RBS Securities.

Started April 29: LKQ CORP $500 million; BofA Merrill Lynch, Wells Fargo, RBS, Mitsubishi.

Started April 29: TOWERGATE £396 million; Credit Suisse, Goldman Sachs, Lloyds, Citigroup, JPMorgan, Morgan Stanley.

Started April 29: COMPUCOM SYSTEMS $250 million; JPMorgan, Citigroup, BMO, Jefferies, SMBC.

Started April 29: GESTAMP AUTOMACION €750 million; Deutsche Bank, BofA Merrill Lynch, Bankia, Barclays, BBVA, Caxia, Commerzbank, Itau, Santander, SG CIB.

April 29-May 1: BOND AVIATION £200 million; JPMorgan, KKR, RBS.

Starts April 30: LBC TANK TERMINALS $350 million; RBC, BNP, Credit Agricole, DNB, ING.

April 30-May 2: KLOECKNER PETAPLAST €150 million; Jefferies, Goldman Sachs.


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