High Yield Calendar

Total amount of dollar-denominated high-yield bond offerings being marketed: $2.385 billion

WEEK OF NOV. 3

QUALITY DISTRIBUTION, LLC: $125 million senior subordinated notes due 2010 (B3/B-); Credit Suisse First Boston, Deutsche Bank Securities (joint), Bear Stearns, JP Morgan (co's); Rule 144A; non-callable for four years; part of financing that also includes $112 million IPO of common stock and $235 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; roadshow Oct. 27-Nov. 6; price talk 9%-9¼%; pricing Thursday, simultaneous with IPO.

TRIAD HOSPITALS, INC.: $450 million senior subordinated notes due 2013 (B3/B); Merrill Lynch, Banc of America Securities (joint), Citigroup, Credit Suisse First Boston, Goldman Sachs, Credit Lyonnais, Fleet Securities, JP Morgan, Scotia Capital, SunTrust Robinson Humphrey, Wachovia Securities, Bear Stearns, Lehman Brothers, Morgan Stanley, BOSC, Stephens (co's); Rule 144A; non-callable for five years; to fund the tender $325 million 11% senior subordinated notes due 2009; Plano, Tex.-based owner of hospitals and ambulatory surgery centers; roadshow Nov. 5; price talk 6 7/8%-7 1/8%; pricing Thursday.

MERISANT CO.: $75 million senior subordinated discount notes due 2014 (Caa1/B-); Credit Suisse First Boston; non-callable for five years; issued via parent company Tabletop Holdings, Inc.; Chicago manufacturer of tabletop sweetener products; pricing Wednesday or Thursday.

STRATUS TECHNOLOGIES INC.: $170 million senior notes due 2008 (B3 confirmed/B expected); Goldman Sachs, JP Morgan (joint); Rule 144A; non-callable for three years; to repay debt, repurchase common and preferred shares; Maynard, Mass.-based provider of continuously available servers; roadshow started Oct. 28; price talk 10¼%-10½%; pricing Thursday.

BEAZER HOMES USA: $200 million senior notes due 2013 (existing ratings Ba2/BB); UBS Investment Bank (books), Citigroup, BancOne Capital Markets, Wachovia, BNP Paribas (co's); Rule 144A; non-callable for five years; for general corporate purposes; Atlanta single-family homebuilder; pricing Thursday afternoon.

MSW ENERGY HOLDINGS II: $225 million senior secured notes due 2010 (Ba2/BB-); Credit Suisse First Boston (books), Goldman Sachs, Lehman Brothers (co's); Rule 144A; to partially fund CSFB Private Equity's acquisition of United American Energy Holdings Corp., the owner of a 50% interest in American Ref-Fuel Co. LLC; brief roadshow started Nov. 4; price talk 7¼%-7½%; pricing late Thursday or early Friday.

DOLLAR FINANCIAL GROUP, INC.: $200 million senior notes due 2011 (B3/B); Credit Suisse First Boston, Citigroup (joint); Rule 144A/Regulation S; non-callable for four years; to redeem senior notes and senior subordinated notes, repay bank debt; Berwyn, Pa. franchisor of check cashing stores; roadshow started Oct. 29; price talk 9¾%-10%; pricing Friday.

WEEK OF NOV. 10

TEKNI-PLEX: $200 million second priority senior secured notes due 2013 (B2); Lehman Brothers, Citigroup (joint); Rule 144A; non-callable for five years; to repay bank debt; Somerville, N.J.-based packaging products manufacturer; roadshow started Nov. 5; pricing middle of Nov. 10 week.

DNO ASA: $175 million senior notes due 2010 (Caa2/B-); Credit Suisse First Boston; non-callable for four years; for general corporate purposes; Norwegian oil company; pricing Nov. 12.

WEEK OF NOV. 17

GOLDEN NUGGET: $140 million senior second lien notes due 2011; Lehman Brothers; Rule 144A; non-callable for four years; to fund Poster Financial Group's acquisition of Golden Nugget properties; roadshow starts Nov. 7; pricing expected early in the Nov. 17 week

GENERAL CABLE CORP: $275 million senior unsecured notes due 2010; Merrill Lynch, UBS Investment Bank (joint); Rule 144A/Regulation S; non-callable for four years; part of refinancing plan to replace credit facility, provide additional liquidity, extend debt maturities and reduce leverage; also includes $240 million senior secured asset based revolving credit facility, $75 million redeemable convertible preferred stock, and $50 million common stock; Highland Heights, Ky. cable manufacturer; roadshow Nov. 6-18.

NOVEMBER BUSINESS

GENERAL NUTRITION COS. INC.: high yield notes and new credit facility; Lehman Brothers, JP Morgan; to help support LBO by Apollo Management LP from Royal Numico NV; Pittsburgh producer and seller of nutritional supplements; November business.

ON THE HORIZON

MICHAEL FOODS, INC.: $150 million senior subordinated notes; UBS Investment Bank, Banc of America Securities, Deutsche Bank Securities (books); to finance the LBO by Thomas H. Lee Partners; Minnetonka, Minn. diversified food processor.

BERRY PLASTICS CORP.: $110 million add-on to the 10 ¾% senior subordinated notes due July 15, 2012; Rule 144A; callable on July 15, 2007 at 105.375, 103.583, 101.792, par on July 15, 2010 and thereafter; equity clawback until July 15, 2005 for 35% at 110.75; also $375 million credit facility via Goldman Sachs and JP Morgan; to fund acquisition of Landis Plastics, Inc.; Evansville, Ind. manufacturer of plastic containers, drink cups and housewares.

IMS METER HOLDINGS: senior subordinated debt; also new credit facility led by Credit Suisse First Boston and Goldman Sachs; to help support leveraged buyout of Invensys plc metering business; Raleigh, N.C. manufacturer of water, gas, electric and heat meters for the utility industry.

VENDEX KBB NV: €200 million bonds; ING; European nonfood retailer based in Amsterdam; pricing mid-to-late November.

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.

ABB LTD.: €650 million bonds; Barclays Capital, Deutsche Bank Securities, HVB; to adjust debt repayment schedule; timing depends on market conditions

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

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

RELIANCE INDUSTRIES: $750 million bond due 2008 (existing ratings Ba2/BB); Credit Suisse First Boston; Regulation S; diversified Indian company; expected to price during week of Nov. 3.

BRASKEM SA: $150 million bond due 2008 (B+); Credit Suisse First Boston; Rule 144A/Regulation S; Brazilian petrochemical company; conference call Nov. 29; pricing expected Nov. 3 week.

PHILIPPINE NATIONAL BANK: $140 million lower tier II sub bonds due 2013; JP Morgan; non-callable for five years; roadshow expected to start Nov. 14 in Manila, Nov. 17 in Singapore, Nov. 19 in Hong Kong.

EMERGING MARKETS OFFERINGS ON THE HORIZON

FILINVEST LAND INC.: $100 million bonds due 2008 (unrated); JP Morgan; to refinance debt and fund capital expenditures; Philippine homebuilder; price talk 9 ¼%-9 ½%.

PT BANK MANDIRI: up to $400 million of new debt securities; expected first quarter of 2004.

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

ROADSHOWS

Started Oct. 30: DNO ASA $175 million; Credit Suisse First Boston; 7NC4

Started Nov. 5: TEKNI-PLEX $200 million; Lehman Brothers, Citigroup; Rule 144A; 10NC5

Nov. 6-18: GENERAL CABLE CORP $275 million; Merrill Lynch, UBS Investment Bank; Rule 144A/Regulation S; 7NC4

Starts Nov. 14: PHILIPPINE NATIONAL BANK $140 million; JP Morgan; 10NC5

Starts Nov. 7: GOLDEN NUGGET $140 million; Lehman Brothers; Rule 144A; 8NC4

RECENT SHELF FILINGS WITH THE SEC:

HUGHES SUPPLY, INC.: $300 million shelf filed Oct. 31 for debt securities, common stock, warrants and units; securities may be issued as convertibles; Orlando, Fla. wholesale distributor of construction and industrial materials, equipment, and supplies will use proceeds for acquisitions, repayment or refinancing of debt, capital expenditures, working capital needs and other general corporate purposes.

http://www.sec.gov/Archives/edgar/data/49029/000119312503070891/ds3.htm

PRIMUS TELECOMMUNICATIONS GROUP, INC. (Symbol: PRTL): $200 million shelf filed Nov. 4 for common stock, preferred stock, depositary shares, debt securities and warrants; securities may be issued as convertibles; McLean, Va. telecommunications company will use proceeds for the repurchase, repayment or redemption of outstanding debt and for working capital and other general corporate purposes.

http://www.sec.gov/Archives/edgar/data/1006837/000104746903036004/a2121913zs-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.