High Yield Calendar

Total amount of high-yield bond offerings being marketed: $5.920 billion

WEEK OF OCT. 31

VITAMIN SHOPPE INDUSTRIES INC.: $165 million second-priority senior secured floating-rate notes due 2012 (B2/B+); Bear Stearns & Co., BNP Paribas, Banc of America Securities (joint), Jefferies & Co., Rothchild Inc. (co's); Rule 144A with registration rights; non-callable for two years; to repay existing debt; marketer of vitamins, vitamin supplements, and nutritional products, headquartered in North Bergen, N.J.; roadshow Oct. 25-Nov. 2.

SEMGROUP LP/SEMGROUP FINANCE CORP.: $350 million senior notes due 2015 (B1/B+); Banc of America Securities (books), BNP Paribas, Harris Nesbitt, JP Morgan, Scotia Capital (joint leads), Citigroup, Fortis, Piper Jaffray RBC Capital Markets and others (co's); Rule 144A for life; non-callable for five years; to repay a portion of senior secured credit facility; Tulsa, Okla., provider of marketing, transportation and distribution services to petroleum producers and refiners; roadshow started Oct. 26; pricing expected Friday; talked at 8½% to 8¾%.

WEEK OF NOV. 7

CABLEMAS SA DE CV: $165 million offering of 10-year senior notes (B1/BB-); Credit Suisse First Boston (books), UBS (Co-manager); Rule 144A/Regulation S; NC-5; roadshow starts Nov. 2 in New York, Nov. 3 in Boston, Nov. 4 in New Jersey, Philadelphia, Nov. 7 in Los Angeles, Nov. 8 in Houston; to refinance existing debt, to fund capital investments and for general corporate purposes; headquartered in Mexico City; Mexico's second largest cable TV operator.

COMPTON PETROLEUM CORP. FINANCE CO.: $300 million eight-year senior notes; Credit Suisse First Boston, Morgan Stanley (joint books); roadshow starts Thursday, pricing expected Nov. 7 week; Calgary, Alta.-based oil and gas exploration and production company will use proceeds to fund tender for $165 million of 9.90% series A senior notes due 2009 and to pay down revolving credit debt.

EPL FINANCE CORP. (EL POLLO LOCO): $150 million eight-year notes (Caa1/CCC+); Merrill Lynch & Co., Banc of America Securities (joint books); Rule 144A; non-callable for four years; Irvine, Calif.-based restaurant chain; to help fund acquisition by Trimaran Capital Partners, LP; roadshow started Nov. 2; pricing expected mid to late Nov. 7 week.

TARGUS GROUP INTERNATIONAL INC.: $150 million senior subordinated notes due 2013 (B3/CCC+); Goldman Sachs & Co., UBS Investment Bank (joint), Wachovia Securities (co); Rule 144A/Regulation S with registration rights; non-callable for four years; to support Fenway Partners Inc.'s leveraged buyout of Targus from Apax Partners LP for $382.5 million; also $205 million credit facility; Anaheim, Calif., supplier of mobile computing cases and accessories; roadshow started Oct. 31; pricing expected Nov. 8.

TUNICA-BILOXI GAMING AUTHORITY: $150 million senior notes due 2015 (B2/expected B+); Deutsche Bank Securities; Rule 144A with registration rights; non-callable for five years; to fund the expansion of casino and resort; Louisiana-based tribal gaming concern; roadshow Nov. 1-7, investor call 12:30 p.m. ET, Wednesday, Nov. 2; pricing expected Nov. 8.

NOVEMBER BUSINESS

AVAGO TECHNOLOGIES FINANCE PTE. LTD.: $1 billion of bonds; $750 million eight-year fixed-rate senior unsecured notes (B3) and 71/2-year floating-rate notes (B3) (tranche sizes to be determined), $250 million 10-year senior subordinated notes (Caa2); Lehman Brothers, Citigroup, Credit Suisse First Boston (joint books); Rule 144A; 71/2-year notes non-callable for two years, eight-year notes non-callable for four years, 10-year notes non-callable for five years; Singapore-based company will use proceeds to help fund buyout of Agilent Technologies Inc.'s semiconductor unit by Kohlberg Kravis Roberts & Co. and Silver Lake Partners; roadshow starts in Europe on Nov. 7, Asia on Nov. 10, United States on Nov. 14, pricing anticipated at end of Nov. 14 week.

HERTZ CORP.: $3.05 billion bonds; Deutsche Bank Securities, Lehman Brothers, JP Morgan, Goldman Sachs & Co., Merrill Lynch & Co; to help fund the approximately $15 billion LBO of the company by Clayton, Dubilier & Rice Inc., The Carlyle Group and Merrill Lynch Global Private Equity from Ford Motor Co.; Park Ridge, N.J, vehicle rental company; to launch early November.

ORCHARD SUPPLY HARDWARE STORES CORP.: $235 million eight-year senior notes (B2/CCC+); Lehman Brothers, Citigroup, JP Morgan; Rule 144A with registration rights; non-callable for four years; San Jose, Calif.-based operator of home improvement stores, subsidiary of Sears Holdings Corp.; proceeds to help fund recapitalization; roadshow Nov. 4-15.

SS&C TECHNOLOGIES INC.: $205 million senior subordinated notes (Caa1/CCC+); Wachovia Securities, JP Morgan, Bank of America (joint); Rule 144A; also senior secured credit facility; to fund $982 million LBO of the company by Carlyle Group; Carlyle Group will also contribute equity; Windsor, Conn., company delivers investment and financial management software and related services focused exclusively on the financial services industry.

ON THE HORIZON

TESORO CORP.: $900 million of senior notes in two parts; tranches due 2012 and 2015; San Antonio-based oil refiner will use proceeds, along with cash on hand, to repurchase its 9 5/8% senior subordinated notes due 2008, 9 5/8% senior subordinated notes due 2012 and 8% senior secured notes due 2008; Rule 144A/Regulation S.

TRONOX INC.: $350 million unsecured notes due 2012 (B+); Oklahoma City-based chemical business will pay proceeds, along with proceeds from a new term loan, to Kerr-McGee Corp. as part of spin off.

AMADEUS GLOBAL TRAVEL DISTRIBUTION SA: €1 billion (approximate); Credit Suisse First Boston; to fund the LBO of the company by BC Partners and Cinven; travel reservations firm based in Madrid, Spain; expected during first half of 2005.

BRASKEM SA: $100 million perpetual senior notes (/BB-/BB-); Banco Itau; Rule 144A/Regulation S; non-callable for five years; Sao Paulo, Brazil, petrochemical company.

CROWN HOLDINGS INC.: $1.1 billion senior unsecured notes (B1) and $1.30 billion equivalent credit facility; to fund tender for any and all of Crown European Holdings SA's notes, Citigroup and Lehman Brothers dealer managers and solicitation agents, expires Nov. 16; Philadelphia packaging company.

DACOM CORP.: $300 million notes due 2010 (expected ratings Ba3/BB-); Credit Suisse First Boston; Rule 144A/Regulation S; non-callable for life; to refinance debt; South Korea-based integrated service provider of telecommunications and internet related services.

R.H. DONNELLEY CORP.: $1.842 billion senior notes; DEX MEDIA INC.: $250 million senior notes; to fund the acquisition of Dex Media by R.H. Donnelley; Cary, N.C.-based R.H. Donnelley is a Yellow Pages publisher and directional media company. Englewood, Colo.-based Dex provides print directories and internet-based local search services; expected to be completed during the first quarter of 2006.

SHAW COMMUNICATIONS INC.: C$300 million senior unsecured notes due 2012 (Ba2); TD Securities Inc. (lead), RBC Capital Markets, CIBC World Markets, Merrill Lynch & Co., NBF Securities (USA) Corp., Scotia Capital; Calgary, Alta., communications company will use proceeds to repay bank debt and to redeem $172.5 million 8.5% Canadian Originated Preferred Securities; registration statement filed with the Securities and Exchange Commission but not yet effective.

DRS TECHNOLOGIES INC. $700 million: $500 million senior notes and $200 million senior subordinated notes; also new bank debt and convertible notes; to help fund its acquisition of Engineered Support Systems Inc., a St. Louis-based diversified supplier of integrated military electronics, support equipment and technical services; committed financing from Bear Stearns & Co.; DRS Technologies is Parsippany, N.J.-based provider of technology products and services to defense, government intelligence and commercial customers; transaction expected to close by March 2006.

INTELSAT LTD.'s $7 billion acquisition of PANAMSAT HOLDING CORP.: $4 billion (approximate) minimum: PANAMSAT OPERATING CO. $572.9 million senior notes with the option to issue additional $663.57 million if PanAmSat 9% notes are refinanced, PANAMSAT HOLDING CO. $721.2 million in senior notes with option to issue additional $301.9 million if PanAmSat 10 3/8% notes are refinanced, INTELSAT OPERATING CO. up to $557 million of senior notes, INTELSAT HOLDING CO. up to $1.4155 billion in senior notes; also approximately $2.88 billion aggregate bank debt; financing provided by Deutsche Bank, Citigroup, Credit Suisse First Boston and Lehman Brothers; PanAmSat is a Wilton, Conn.-based satellite network operator; Intelsat is a Pembroke, Bermuda, satellite communications company; expected to be completed in 2006.

K. WAH CONSTRUCTION MATERIALS LTD.: $300 million and $500 million global bonds; Merrill Lynch & Co., Morgan Stanley; owner of Macau's Galaxy casino.

MIDDLETOWN RANCHERIA GAMING ENTERPRISES: $50 million senior unsecured notes due 2012; Jefferies & Co.; Rule 144A for life; to refinance debt and fund a renovation; gaming company owned and operated by the Middletown Rancheria band of Pomo Indians; price talk 12% area.

NRG ENERGY INC: $3.6 billion senior unsecured notes via Rule 144A; also $4.8 billion of bank facilities and $1.5 billion of equity or equity-linked securities; commitment for the bank facilities plus a $5.1 billion bridge loan Morgan Stanley, Citigroup; to help finance $5.8 billion acquisition of Houston-based Texas Genco; NRG is a Princeton, N.J.-based independent power producer.

NTL INC./TELEWEST GLOBAL INC.: £1.8 billion high-yield debt; to help fund NTL'S acquisition of Telewest Global, Inc. for about $6 billion; Goldman Sachs advised NTL, Deutsche Bank Securities advised Telewest, the U.K.'s second largest cable provider; expected to close in the first quarter of 2006.

PER-SE TECHNOLOGIES INC.: $250 million senior subordinated notes; also $460 million credit facility, financing commitment from Bank of America; proceeds in addition to $240 million of Per-Se stock and cash on hand to help fund its acquisition of NDCHealth Corp.; Per-Se is an Alpharetta, Ga., provider of connective health care solutions to physicians and hospitals; transaction expected to be completed late 2005 or early 2006

PETROHAWK ENERGY CORP.: $170 million notes due 2013; BNP Paribas expected bookrunner; non-callable for four years; to back the consolidation of the bank debt of Petrohawk and soon-to-be-acquired Mission Resources Corp.; bank group includes BNP Paribas; Petrohawk is a Houston-based energy company; Mission Resources is a Houston-based independent exploration and production company.

TRAVELEX GROUP: Sterling-denominated bonds, size of offering to be determined; Deutsche Bank Securities; a consortium led by Apax Partners signed an agreement in February 2005 to acquire a majority stake in Travelex, transaction expected to close in 2005; London-based foreign currency exchange services provider.

VENETIAN MACAU LTD.: $300 million floating-rate notes; Goldman Sachs

ROADSHOWS

Oct. 25-Nov. 2: VITAMIN SHOPPE INDUSTRIES INC. $165 million; Bear Stearns & Co., BNP Paribas, Banc of America Securities LLC

Started Oct. 26: SEMGROUP LP/SEMGROUP FINANCE CORP. $250 million; Banc of America Securities LLC

Started Oct. 26: HOPSON DEVELOPMENT HOLDINGS LTD. $300 million; Credit Suisse First Boston

Started Oct. 31: TARGUS GROUP INTERNATIONAL INC. $150 million; Goldman Sachs & Co., UBS Investment Bank

Nov. 1-7: TUNICA-BILOXI GAMING AUTHORITY $150 million; Deutsche Bank Securities

Started Nov. 2: EPL FINANCE CORP. (EL POLLO LOCO) $150 million; Merrill Lynch & Co., Banc of America Securities

Nov. 2-8: CABLEMAS SA DE CV: $165 million 10-year senior notes; Credit Suisse First Boston

Nov. 4-15: ORCHARD SUPPLY HARDWARE STORES CORP.: $235 million eight-year senior notes; Lehman Brothers, Citigroup, JP Morgan

Starts Nov. 3: COMPTON PETROLEUM CORP. FINANCE CO.: $300 million eight-year senior notes; Credit Suisse First Boston, Morgan Stanley

Starts Nov. 7: AVAGO TECHNOLOGIES FINANCE PTE. LTD.: $1 billion of bonds; Lehman Brothers, Citigroup, Credit Suisse First Boston

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