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Published on 9/12/2003 in the Prospect News High Yield Daily.

High Yield Calendar

Total amount of dollar-denominated high-yield bond offerings being marketed: $2.605 billion

WEEK OF SEPT. 15

BUCKEYE TECHNOLOGIES INC.: $200 million senior notes due 2013 (B3/B+); Citigroup, UBS Investment Bank (joint); Rule 144A; non-callable for five years; to redeem 8½% senior subordinated notes due 2005 and repay bank debt; Memphis, Tenn. manufacturer of specialty cellulose and absorbent products; roadshow Sept. 4-15; price talk 8½%-8¾%, pricing Monday.

PERRY ELLIS INTERNATIONAL, INC.: $150 million senior subordinated notes due 2013 (B3/B-); Wachovia Securities, Merrill Lynch (joint); Rule 144A; make-whole call for first five years; three-year equity clawback for 35%; to redeem existing 12¼% senior subordinated notes due 2006 and to repay bank debt; Miami branded apparel marketer; roadshow started Sept. 10; price talk 8 7/8%-9 1/8%; pricing Monday afternoon.

BRODER BROTHERS: $175 million senior notes due 2010 (B3/B-); UBS Investment Bank (books), Banc One Capital Markets (co); Rule 144A; non-callable for four years; to help fund acquisition of Alpha, sponsored by Bain Capital, and repay Broder and Alpha debt; Plymouth, Mich.-based distributor of imprintable sportswear and accessories; roadshow Sept. 5-16; expected to price on or about Sept. 16.

MAJESTIC STAR CASINO LLC/MAJESTIC STAR CAPITAL CORP.: $270 million senior secured notes due 2010 (B2); Jefferies & Co.; Rule 144A; non-callable for four years; three-year equity clawback; also $80 million four-year senior secured credit facility; to fund tender for notes; Gary, Ind.-based gaming company; roadshow started Sept. 5; expected to price Sept. 17.

HUNTSMAN LLC: $375 million senior secured notes due 2010; Credit Suisse First Boston, Deutsche Bank Securities (joint), Citigroup, CIBC World Markets, JP Morgan, UBS Investment Bank (co's); Rule 144A; non-callable for four years; to repay bank debt; Salt Lake City-based petrochemical company; roadshow started Sept. 11.

HINES NURSERIES, INC.: $175 million senior notes due 2011 (B3/B); Credit Suisse First Boston; Rule 144A/Regulation S; non-callable for four years; also new credit facility; to repay credit facility and redeem 12¾% senior subordinated notes due 2005; Irvine, Calif. company operates commercial nurseries; roadshow started Sept. 12; pricing late Sept. 15 week.

WEEK OF SEPT. 22

SEMINIS VEGETABLE SEEDS INC.: $190 million senior subordinated notes due 2013 (B3/B-); Citigroup, CIBC World Markets (joint), Harris Nesbitt, Rabo Securities (co's); Rule 144A; non-callable for five years; also new credit facility; to fund Fox Paine's acquisition of Seminis from Savia, SA de CV; Oxnard, Calif.-based fruit and vegetable producer; roadshow Sept. 12-22.

RAYOVAC CORP.: $300 million senior subordinated notes due 2013; Banc of America Securities (books), Citigroup (co); Rule 144A; non-callable for five years; to help finance Rayovac's acquisition of Remington Products Co. and retire Remington debt; Madison, Wis.-based battery and lighting device company; expected to price Sept. 25.

SEPTEMBER BUSINESS

DRS TECHNOLOGIES: $350 million bonds and bank financing; Bear Stearns, Wachovia Securities; to help fund acquisition of Integrated Defense Technologies; defense electronics supplier based in Parsippany, N.J.; anticipated interest rate 7½%-8% on bonds.

ON THE HORIZON

ALLIED WASTE NORTH AMERICA, INC.: $750 million senior notes; part of refinancing that includes $250 million add-on term loan; bank deal via JP Morgan.

QUALITY DISTRUBUTION, LLC: $125 million unsecured notes; part of financing that also includes $115 million IPO of common stock via Credit Suisse First Boston, Bear Stearns, Deutsche Bank Securities and $215 million credit facility; to repay existing credit facility, redeem 12½% senior subordinated secured notes, 10% senior subordinated notes and 12% junior PIK notes; Tampa, Fla. transportation company.

STATION CASINOS, INC.: senior subordinated notes to fund tender for $199 million 8 7/8% senior subordinated notes due 2008, Banc of America Securities and Deutsche Bank Securities, dealer managers; consent deadline Sept. 17.

PINNACLE ENTERTAINMENT, INC.: $130 million debt financing; to fund tender for $125 million 9½% senior subordinated notes due 2007, Bear Stearns dealer manager, expiring Oct. 3; Las Vegas gaming company.

VON HOFFMAN CORP.: $60 million to either 2007- or 2009-maturing notes; Credit Suisse First Boston; to help fund acquisition Lehigh Press, Inc.; St. Louis-based educational and commercial printer.

RESOURCE AMERICA, INC.: $30 million of 12% 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/83402/000095011603002731/s-3a.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.

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

SATELLITES MEXICANOS SA DE CV: $80 million floating-rate notes.

PINNACLE FOODS CORP.: high yield bonds; Deutsche Bank Securities, JP Morgan; also senior secured credit facility; to fund $485 million acquisition by JPMorgan Partners and C. Dean Metropoulos, from Hicks, Muse, Tate & Furst Inc.; expected to launch after Labor Day

MB TECH, INC.: high-yield non-convertible bond; to acquire the U.S. and German operating subsidiaries of Willtek, Inc. (Korea); Los Angeles-based manufacturer and distributor of satellite components.

EMERGING MARKETS CORPORATE OFFERINGS

PT ANEKA TAMBANG/ANTAM FINANCE LTD.: $270 million approximately offshore notes due 2010 (B3/B); ABN Amro; non-callable for four years; guaranteed by PT Antam Tbk; to fund nickel smelting plant and power station; Jakarta, Indonesia gold and nickel producer; roadshow started Sept. 5; indicative coupon 7¾%-8%.

GAZ CAPITAL SA: €500 million (upsizing anticipated) notes (B+); Deutsche Bank Securities, UBS Investment Bank; funding vehicle for OAO Gazprom; on road in Europe and Asia Sept. 10-15.

PT BANK RAKYAT INDONESIA: $150 million bonds (B3); UBS Investment Bank; 100% owned by government of Indonesia; roadshow Sept. 8-19.

BAVARIA: $500 million in bonds; Citigroup; to refinance debt; Columbian brewer; to be marketed in U.S. and Europe.

ROADSHOWS

Started Sept. 5: MAJESTIC STAR CASINO LLC/MAJESTIC STAR CAPITAL CORP. $270 million; Jefferies & Co.; Rule 144A; 7NC4

Sept. 5-16: BRODER BROTHERS $175 million; UBS Investment Bank, Banc One Capital Markets; Rule 144A; 7NC4

Sept. 8-12: PT BANK RAKYAT INDONESIA $150 million; UBS Investment Bank

Sept. 10-15: GAZPROM: €500 million; Deutsche Bank Securities, UBS Investment Bank

Started Sept. 11: HUNTSMAN LLC $375 million; Credit Suisse First Boston, Deutsche Bank Securities; Rule 144A; 7NC4

Sept. 12-22: SEMINIS VEGETABLE SEEDS INC. $190 million; Citigroup, CIBC World Markets; Rule 144A; 10NC5

Started Sept. 12: HINES NURSERIES, INC. $175 million; Credit Suisse First Boston; Rule 144A/Regulation S; 8NC4

RECENT SHELF FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION:

LAMAR ADVERTISING CO. (Symbol: LAMR): $500 million shelf filed Sept. 11 for debt securities, preferred stock, class A common stock and warrants; securities may be issued as convertibles; includes $212 million previously registered but unsold; Baton Rouge, La. outdoor advertising company will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/899045/000095013503004805/b47633lasv3.txt


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