High Yield Calendar: $3 billion, €715 million, £150 million and C$75 million being marketed

June 2 week

OUTERWALL INC.: $300 million senior notes due 2021 (Ba3/BB-); HSBC Securities (USA) Inc., BofA Merrill Lynch, US Bancorp, RBC Capital Markets (joint), Comerica, Morgan Stanley & Co., BBVA, BMO Securities, Mitsubishi UFJ (co's); Rule 144A and Regulation S with registration rights; non-callable for three years; to repay bank debt and general corporate purposes; Bellevue, Wash.-based kiosk retail services provider; price talk 5 7/8% area (initial guidance in the high 5% context); pricing Wednesday.

POLYMER GROUP, INC.: $200 million five-year senior notes; Citigroup Global Markets, Barclays, RBC Capital Markets, HSBC (joint); Rule 144A and Regulation S with registration rights; callable after 1.5 years at par plus 75% of coupon; 1.5-year 35% equity clawback at par plus coupon; 101% poison put; to help fund the acquisition of 71.25% of the stock of Companhia Providencia Industria e Comercio; Charlotte, N.C.-based producer of engineered materials; roadshow started June 2; initial guidance 7¼%; pricing expected June 4.

JCH PARENT, INC. (JACK COOPER HOLDINGS CORP.): $150 million senior PIK toggle notes due 2019; Wells Fargo Securities LLC (left books), Barclays (joint books); Rule 144A and Regulation S for life; callable after one year at 102; equity clawback for 100% of the notes at 102 during the first year; to pay cash dividends, make a contribution to Jack Cooper Holdings for the purpose of repaying bank debt, to make the first interest payment due on the notes and for other general corporate purposes; Kansas City, Mo.-based transport distribution services provider; initial guidance 10%; pricing middle part of the June 2 week.

WEYERHAEUSER REAL ESTATE CO. (WRECO) and, upon the completion of the merger, TRI POINTE HOMES, INC.: $800 million non-callable senior notes (B1/BB-) in tranches of five-year notes, initial guidance high 4% yield context, and 10-year notes, initial yield guidance 6%; Citigroup Global Markets (left books), Deutsche Bank Securities Inc. (joint books), US Bancorp (lead manager), JMP Securities, Zelman Partners LLC (co's); Rule 144A with registration rights; 101% poison put; incurrence based covenants; to fund the merger of Weyerhaeuser Real Estate Co. with TRI Point Homes; Irvine, Calif.-based homebuilder; roadshow continues in Boston on Wednesday; pricing Wednesday or Thursday.

DFC FINANCE CORP. (DFC GLOBAL): $500 million and £150 million six-year senior secured notes; Jefferies LLC, Credit Suisse Securities (USA) LLC (joint); Rule 144A and Regulation S for life; callable after three years at par plus 50% of the coupon; proceeds, along with $750 million of equity, to help fund the acquisition of DFC Global by Lone Star Funds; Berwyn, Pa.-based financial services company; launched May 28; initial guidance 10¾%; pricing after shareholder vote on June 6.

SUNSHINE OILSANDS LTD. $325 million senior secured notes due 2019; Imperial Capital (sole physical bookrunner), Morgan Stanley & Co., Scotiabank (joint bookrunners); Rule 144A and Regulation S; callable after two years at par plus 75% of the coupon; proceeds, together with concurrent $70 million equity offering, to fund expenditures necessary to complete phases one and two at the West Ells project and general corporate purposes, settle outstanding accounts payable and pre-fund 18 months of cash interest; Calgary, Alta.-based developer of oil sands leases in the Athabasca oil sands region; initial yield guidance 15%; expected to price in the later part of the June 2 week.

SOUTHERN STAR CENTRAL CORP.: $450 million senior notes due 2022 (Ba1/BB+); RBC Capital Markets (left books), BofA Merrill Lynch (joint books); Rule 144A and Regulation S for life; callable after three years at par plus 75% of the coupon; three-year 35% equity clawback at par plus coupon; 101% poison put; to repurchase any and all of the company's 6¾% senior notes due 2016, to repay borrowings under its revolver, to make a distribution to MSIP-SSCC Holdings, LLC and for general corporate purposes; Owensboro, Ky.-based interstate natural gas pipeline company; roadshow started June 2; initial yield guidance 5¼% to 5½%; pricing late June 2 week.

NORTHERN FRONTIER CORP.: C$75 million senior secured second-lien notes due 2019 (/expected B-/); GMP Securities, BMO Capital Markets (joint); Rule 144A; non-callable for three years; to help finance acquisition of Central Water & Equipment Services Ltd., to repay bank debt, to fund capital expenditures and for general corporate purposes; Calgary, Alta.-based provider of industrial and environmental services; Toronto-based roadshow underway.

June 9 week

HILLMAN GROUP INC.: $270 million senior notes due 2022 (Caa2/CCC+); Morgan Stanley & Co. (left books), others expected; also $680 million credit facility; to help fund LBO by CCMP Capital Advisors LLC from Oak Hill Capital Partners, expected to close in the second or third quarter of 2014, repay bank debt and redeem its 10 7/8% notes due 2018; Cincinnati-based distributor of fasteners, key duplication systems, engraved tags and related hardware items; bridge commitments were due June 3; notes offer expected to launch June 9; pricing expected June 12.

HEMA €715 million notes: HEMA Bondco I BV: €290 million senior secured five-year fixed-rate notes (/B+/), non-callable for two years, and €275 million five-year floating-rate notes (/B+/), non-callable for one year, Also HEMA Bondco II BV: €150 million 5.5-year senior unsecured fixed-rate notes (/B-/), non-callable for 2.5 years; Credit Suisse (global coordinator, bill and deliver), ABN Amro, BNP Paribas, Citigroup, JP Morgan, Royal Bank of Scotland (joint books); Rule 144A and Regulation S for life; to refinance debt; Amsterdam, Netherlands-based retailer; roadshow June 4-10, pricing thereafter.

Expected June business

DAVITA HEALTHCARE PARTNERS INC.: $1.75 billion senior notes; Wells Fargo Securities LLC (left books), Barclays (joint books); also $5.5 billion credit facility launched June 3; to repay bank debt and its $775 million of 6 3/8% senior notes due 2018, as well as for general corporate purposes; Denver-based provider of kidney and dialysis services.

AIR FRANCE KLM: Possible euro-denominated unrated notes offer; HSBC, Natixis (global coordinators), ING, SG CIB (active bookrunners); French-Dutch airline holding company based in Paris; investor call Tuesday.

On The Horizon

ACTUANT ELECTRICAL: $60 million senior subordinated notes; also $150 million credit facility led by RBC Capital Markets and NXT Capital; 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.

BIRCH COMMUNICATIONS, INC.: High yield notes backing the acquisition of Cbeyond, Inc. in an all-cash transaction valued at $323 million, expected to close before the end of November 2014; Jefferies LLC to lead the bonds (PNC Capital Markets and Jefferies provided committed financing for the acquisition); Birch Communications is an Atlanta-based a provider of business focused communications, cloud and managed services; Cbeyond in an Atlanta-based IT infrastructure provider; timing of bond deal to be determined.

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.

FRONTIER COMMUNICATIONS CORP.: $1.9 billion senior notes backed by bridge; J.P. Morgan Securities LLC; to fund the acquisition of AT&T Inc.'s wireline business and statewide fiber network in Connecticut; Stamford, Conn.-based wireline telecommunications provider; expected during the second or third quarter of 2014.

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; 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.

MALLINCKRODT PLC: Up to $500 million new senior notes backed by a bridge loan and $1.35 billion term loan; Barclays; to help fund the acquisition of Questcor Pharmaceuticals Inc., an Anaheim Hills, Calif.-based biopharmaceutical company, expected to close in the third quarter of 2014; Mallinckrodt is a Dublin, Ireland-based pharmaceuticals company.

MEN'S WEARHOUSE: $600 million senior notes and a $1.6 billion credit facility; BofA Merrill Lynch and J.P. Morgan Securities LLC; to help fund its purchase of Jos. A. Bank Clothiers expected to close in the third quarter of 2014; Men's Wearhouse is a Houston-based specialty retailer of men's apparel. Jos. A. Bank is a Hampstead, Md.-based designer, manufacturer and retailer of men's apparel, footwear and accessories.

NINE WEST HOLDINGS INC.: $455 million senior unsecured bridge loan or senior notes; also $720 million credit facility launched Feb. 14, including a $445 million term loan and $300 million unsecured term loan led by Morgan Stanley Senior Funding Inc., Jefferies Finance LLC and MCS Capital Markets LLC and $300 million asset-based revolver led by Wells Fargo Securities LLC and Bank of America Merrill Lynch; to help fund the buyout of parent company Jones Group Inc. by Sycamore Partners; marketer and wholesaler of apparel, footwear and accessories.

PROSPECTOR OFFSHORE DRILLING SA: $100 million five-year second-lien bonds via subsidiary Prospector Finance II Sarl; DNB Markets, Pareto Securities, Swedbank (joint); proceeds along with funds from $270 million loan to fully finance the delivery of Prospector 5 drilling rig, which is expected to occur in early June, to refinance existing debt secured by the Prospector 1 drilling rig and for general corporate purposes; Luxembourg-based drilling contractor.

SAFEWAY INC.: $1,625,000,000 senior secured notes and $9.45 billion credit facility; Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley Senior Funding Inc., Barclays, Deutsche Bank Securities Inc., PNC Capital Markets LLC, US Bank, SunTrust Robinson Humphrey Inc.; to fund the buyout of Safeway, expected to close in the fourth quarter of 2014; Pleasanton, Calif.-based food and drug retailer.

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.

WEYERHAEUSER REAL ESTATE CO. (WRECO): $800 million new senior unsecured notes; to help fund the merger with TRI Pointe Homes in a transaction valued at about $2.7 billion, anticipated to close in the second quarter of 2014 (a portion of the proceeds to be paid to Weyerhaeuser at closing); homebuilding subsidiary of Federal Way, Wash.-based Weyerhaeuser Co.

ZEBRA TECHNOLOGIES CORP.: $3.25 billion bonds and bank debt; Morgan Stanley; to fund the acquisition of Motorola Solutions, Inc.'s enterprise business; Lincolnshire, Ill.-based printing technologies company.

Roadshows

Started May 22: SUNSHINE OILSANDS $325 million; Imperial, Morgan Stanley, Scotiabank.

Started May 28: DFC GLOBAL $500 million and £150 million; Jefferies, Credit Suisse.

Started June 2: POLYMER GROUP $200 million; Citigroup, Barclays, RBC, HSBC.

Started June 2: SOUTHERN STAR CENTRAL $450 million; RBC, BofA Merrill Lynch.

June 3-4: WEYERHAEUSER REAL ESTATE CO./TRI POINTE HOMES $800 million; Citigroup, Deutsche Bank.

June 4-10: HEMA €715 million; Credit Suisse, ABN Amro, BNP Paribas, Citigroup, JP Morgan, Royal Bank of Scotland.

Starts June 9: HILLMAN GROUP $270 million; Morgan Stanley.

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