High Yield Calendar

Total amount of dollar-denominated high-yield bond offerings being marketed: $6.945 billion

WEEK OF JULY 21

WESTLAKE CHEMICAL CORP.: $400 million senior notes due 2011 (Ba3/B+); Credit Suisse First Boston, Banc of America Securities, Deutsche Bank Securities, JP Morgan (joint), Citigroup, Scotia Capital, Credit Lyonnais, CIBC World Markets (co's); Rule 144A with registration rights; to refinance existing debt; Houston petrochemical company; roadshow began July 8; price talk 8¾%-9%; pricing Monday afternoon.

MSX INTERNATIONAL, INC.: $100 million senior secured notes due 2007 (B2/B); Jefferies & Co.; Rule 144A; non-callable for two years; to repay bank debt; Southfield, Mich. provider of technical business services; roadshow started July 8; price talk 11% area; pricing Monday afternoon.

NEXTEL COMMUNICATIONS, INC.: $1 billion of senior serial redeemable notes due 2015 (BB-); Bear Stearns, Goldman Sachs (joint), Morgan Stanley, UBS Investment Bank (co-leads), Banc of America Securities, Credit Suisse First Boston, JP Morgan, Lehman Brothers, Scotia Capital, SG Cowen, Wachovia Securities (co-managers); public offering; non-callable for five years; equity clawback for three years; to repay debt; Reston, Va., wireless communications company; roadshow Monday and Tuesday; pricing Tuesday.

WABTEC CORP.: $150 million of senior notes due 2013 (Ba2/BB); JP Morgan (books), Morgan Stanley (joint lead), ABN Amro, BB&T, BNY, Morgan Keegan, NatCity Investments, PNC (co's); Rule 144A/Regulation S; non-callable for life; to repay revolver and for general corporate purposes; Wilmerding, Pa.-based provider of technology-based products and services for the rail industry; roadshow July 14-22; expected to price during week of July 22.

FOCUS WICKES PLC: £225 million in sterling and euros mezzanine notes due 2011 (B3/B+); ING, Royal Bank of Scotland (joint), Goldman Sachs (co); Rule 144A/Regulations S with no registration rights; non-callable for four years; to repay debt; London-based operator of retail home improvement stores; European roadshow July 15-22.

BSN GLASSPACK OBLIGATION: €160 million senior subordinated second lien notes due Aug. 1, 2009 (B1/B-); Citigroup, BNP Paribas (joint); Rule 144A/Regulation S; to repay bank debt and fund part of tender offer; French manufacturer of glass bottles for wines, beers, spirits and non-alcoholic beverages; roadshow started July 15; expected to price week of July 21.

PAYLESS SHOESOURCE, INC.: $200 million senior subordinated notes due 2013 (B+); Goldman Sachs (books), Fleet Securities, Wachovia Securities, Banc One Capital Markets (co's); Rule 144A/Regulation S; non-callable for five years; proceeds together with available cash to repay term loan; roadshow started July 15; expected to price during the week of July 21.

KINETIC CONCEPTS INC.: $205 million senior subordinated notes due 2013 (B); Morgan Stanley, Credit Suisse First Boston (joint); JP Morgan, Wells Fargo Capital (co's); Rule 144A/Regulation S; non-callable for five years; to fund recapitalization; San Antonio, Tex. medical device company; roadshow started July 17; expected to price mid-week during the week of July 21.

CHARTER COMMUNICATIONS, INC.: $1.7 billion senior notes; Citigroup; Rule 144A; to fund the tender and repay debt; St. Louis-based cable operator; possibly July 21 week.

GRISTEDE'S FOODS, INC.: $150 million units made up of senior secured notes due 2010 with warrants for common stock; Jefferies; Rule 144A; to fund acquisition of Kings Super Markets, repay debt and general corporate purposes; roadshow July 17 through late in July 21 week; New York City-area supermarket chain.

ACC ESCROW CORP.: $900 million senior notes due 2011; Bear Stearns, Morgan Stanley (joint); Rule 144A; non-callable for four years; to restructure $1.6 billion of debt; to merge into Oklahoma City-based wireless company American Cellular Corp. as part of restructuring; roadshow begins early in week of July 21, pricing expected later the same week.

COMPANHIA BRASILEIRA DE PETROLEO IPIRANGA (CBPI): $100 million senior notes due 2008, putable in 2005; Bear Stearns; to repay debt; Brazilian refiner and distributor of petroleum products; roadshow starts early in week of July 21; pricing Thursday or Friday.

HAIGHTS CROSS COMMUNICATIONS: $340 million: $260 million senior notes due 2011 (Caa1/B-) and $80 million of senior discount notes due 2013 (Caa2/B-); Bear Stearns; Rule 144A; to repay debt and redeem $105 million of preferred shares; White Plains, N.Y. publisher of educational and professional material; roadshow starts early in the week of July 21; pricing expected late in the week of July 28.

WEEK OF JULY 28

CNH GLOBAL NV: $1 billion senior notes due 2011 (Ba3/BB-); Citigroup, Deutsche Bank Securities, UBS Investment Bank (joint); Rule 144A; non-callable for four years; to refinance debt maturing in 2003, repay selected near term maturities and reduce short-term debt, with less than 10% allocated for general corporate purposes; subsidiary of Lake Forest, Ill.-based tractor and combine manufacturer Case New Holland, Inc.; roadshow July 17-28.

EIRCOM LTD.: €500 million equivalent dollar and euro notes due 2013 (B1/BB+), VALENTIA: €500 million equivalent dollar and euro notes due 2013 (B3/BB+); Deutsche Bank Securities; Rule 144A/Regulation S; to repay debt; Irish telecommunications company; roadshow started July 15; pricing July 28.

FLENDER HOLDING GMBH: €250 million senior notes; Deutsche Bank Securities, Credit Suisse First Boston; to repay senior credit facility and pay dividend to sponsor CVC; Herne, Germany manufacturer of power transmission equipment; roadshow starts July 21; expected to price July 28.

HILCORP ENERGY CO.: $350 million senior notes due 2010; Deutsche Bank Securities, Lehman Brothers (joint); Rule 144A; non-callable for four years; to fund acquisition of properties, acquire partner's equity interest and repay part of bank debt; privately-held Texas corporation acquires and exploits oil and gas properties; roadshow July 21-31.

MORRIS PUBLISHING GROUP LLC: $200 million senior subordinated notes due 2013; JP Morgan (books), Wachovia Securities, BONY, Fleet Securities, SunTrust Robinson Humphrey, McDonald, Stephens (co's); Rule 144A; non-callable for five years; to repay bank debt; Augusta, Ga.-based newspaper publisher; roadshow starts July 21, pricing mid-week during the week of July 28.

SEABULK INTERNATIONAL, INC.: $150 million senior notes due 2013 (B); Credit Suisse First Boston (books), Banc of America Securities, RBC (co-leads), Merrill Lynch (co-manager); Rule 144A; non-callable for five years with a make-whole call through 2008; to repay part of $180 million credit facility; Fort Lauderdale, Fla.-based marine support and transportation services provider; roadshow started July 18; pricing during the week of July 28.

JULY BUSINESS

MEDCO HEALTH SOLUTIONS, INC.: $500 million senior notes due 2013 (Ba1/BBB); Goldman Sachs, JP Morgan, Citigroup; also $1.15 billion senior secured credit facility; public; callable; 35% equity clawback for three years; to help pay cash dividend to Merck; roadshow expected in July.

ON THE HORIZON

DYNEGY INC.: $1.2 billion of second priority senior secured notes; Credit Suisse First Boston; Rule 144A; to help fund tender offer and significantly reduce bank debt.

EAGLEPICHER INC.: $220 million senior unsecured notes; UBS Investment Bank; Rule 144A/Regulation S; to fund tender for 9 3/8% senior subordinated notes due 2008; UBS Investment Bank; dealer manager for tender offer; consent solicitation expires July 22.

BIO-RAD LABORATORIES, INC.: $200 million senior subordinated notes; Rule 144A/Regulation S; to fund tender for $88.715 million 11 5/8% senior subordinated notes due 2007, Goldman Sachs dealer-manager; Hercules, Calif.-based manufacturer and distributor of life science research products and clinical diagnostics; consent date July 30.

CONCENTRA OPERATING CORP.: $150 million senior subordinated notes due 2010; Credit Suisse First Boston; Rule 144A; to repay debt; Addison, Tex provider of services designed to contain healthcare and disability costs; expected to be completed during third quarter.

PHARMA SERVICES: $450 million senior subordinated notes (B3); Citigroup; also $425 million credit facility; to fund the LBO of Quintiles; Durham, N.C. provider of product development and commercial development solutions to pharmaceutical, biotechnology and medical device industries.

RIVERWOOD HOLDING INC./GRAPHIC PACKAGING INTERNATIONAL CORP.: $1.5 billion financing in high yield bonds and bank debt; notes via Goldman Sachs, Deutsche Bank Securities, JP Morgan (joint) credit facility lead by JPMorgan, Deutsche Bank, Goldman Sachs and Morgan Stanley (equal leads in financing), Citigroup, Credit Suisse First Boston (co's); to fund merger of Riverwood Holding Inc. and Graphic Packaging International Corp.

RESOURCE AMERICA, INC.: $30 million of senior notes due 2008; Bear Stearns and Friedman Billings Ramsey (joint); registered; callable on Aug. 1, 2006 at 106; concurrently company will offer up to $65.336 million of new notes in exchange for all outstanding 12% senior notes due 2004; Philadelphia-based oil and natural gas company.

http://www.sec.gov/archives/edgar/data/83402/000095011603001564/s3.txt

LOEWS CINEPLEX THEATRES: senior subordinated notes; Rule 144A; coming with senior credit facility and IPO; IPO via Goldman Sachs, Citigroup, Credit Suisse First Boston and Merrill Lynch; to repay debt and for general corporate purposes; motion picture exhibitor headquartered in New York City.

SEMINIS INC.: $175 million (minimum) high-yield bonds; also new credit facility led by Citigroup and Bank of Montreal; part of merger agreement with Savia, SA de CV

EURAMAX INTERNATIONAL, INC.: new debt security offering to fund tender for 11¼% senior subordinated notes due 2006; UBS Investment Bank sole lead dealer manager for tender, Banc of America Securities LLC co-manager; consent payment deadline July 24.

SEAT PAGINE GIALLE: €1.2 billion bonds; to help fund €6 billion LBO by BC Partners, CVC, Investitori Associati and Permira

ROADSHOWS

July 14-22: WABTEC CORP. $150 million; JP Morgan; Rule 144A/Regulation S; 10NC

July 15-22: FOCUS WICKES PLC sterling 225 million; ING, Royal Bank of Scotland; Rule 144A/Regulations S; 8-year maturity

Started July 15: BSN GLASSPACK OBLIGATION euro 160 million; Citigroup, BNP Paribas; Rule 144A; Regulation S; 6NC3

Started July 15: EIRCOM Euro 1 billion equivalent; Deutsche Bank Securities; Rule 144A/Regulation S; 10-year maturity

Started July 15: PAYLESS SHOESOURCE, INC. $200 million; Goldman Sachs; Rule 144A/Regulation S; 10NC5

Started July 17: KINETIC CONCEPTS INC. $205 million; Morgan Stanley, Credit Suisse First Boston; Rule 144A/Regulation S; 10NC5

July 17-28: CNH GLOBAL NV $1 billion; Citigroup, Deutsche Bank Securities, UBS Investment Bank; Rule 144A; 8NC4

Starts July 21: FLENDER HOLDING GMBH euro 250; Deutsche Bank Securities, Credit Suisse First Boston.

Started July 17: GRISTEDE'S FOODS, INC. $150 million approximate (notes and warrants); Jefferies & Co.; 7-year maturity

Started July 18: SEABULK INTERNATIONAL, INC. $150 million; Credit Suisse First Boston; Rule 144A; 10NC5

July 21-22: NEXTEL COMMUNICATIONS, INC. $1 billion; Bear, Stearns, Goldman, Sachs; public; 12NC5

July 21-31: HILCORP ENERGY CO. $350 million; Deutsche Bank Securities, Lehman Brothers; Rule 144A; 7NC4

Starts July 21: MORRIS PUBLISHING GROUP LLC $200 million; JP Morgan; Rule 144A; 10NC5

Early July 21 week: ACC ESCROW CORP.: $900 million; Bear Stearns, Morgan Stanley; Rule 144A; 8NC4

Early July 21 week: COMPANHIA BRASILEIRA DE PETROLEO IPIRANGA (CBPI): $100 million; Bear Stearns; 8-year maturity

Early July 21 week: HAIGHTS CROSS COMMUNICATIONS $340 million; Bear Stearns; Rule 144A; 8 and 10-year maturities

Starts in July: MEDCO HEALTH SOLUTIONS, INC. $500 million; Citigroup, JP Morgan, Goldman Sachs; 10-year maturity

RECENT SHELF FILINGS WITH THE SEC:

AVAYA INC.: $1 billion shelf filed July 18 for common stock, preferred stock, debt securities and warrants; securities may be issued as convertibles; Basking Ridge, N.J. of communications systems and services will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/1116521/000104746903024549/a2113770zs-3.htm

IMAX CORP. (Symbol: IMAX): $250 million shelf filed July 15 for debt securities, common stock, preferred stock, warrants, stock purchase contracts and stock purchase units; securities may be issued as convertibles; Mississauga, Ont. entertainment technology company will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/921582/000090956703000890/t10304sv3.txt

NORTHWEST AIRLINES, INC. (Symbol: NWAC): $3 billion shelf filed July 15 for debt securities and warrants to purchase debt securities; Eagan, Minn. airline will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/919897/000104746903024211/a2114577zs-3.htm

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.