High Yield Calendar: No deals presently being marketed

EXPECTED IN JANUARY

ARAMARK CORP.: $2.270 billion senior and subordinated notes; JP Morgan, Goldman Sachs & Co. (joint); also $4.605 billion credit facilities and $200 million of equity; to fund the approximately $8.3 billion leveraged buyout of the company by chairman and chief executive officer Joseph Neubauer together with funds managed by sponsors Thomas H. Lee Partners LP, Warburg Pincus LLC, JPMorgan Partners, GS Capital Partners and CCMP Capital Advisors; Philadelphia-based professional food, hospitality and facility management services company; roadshow expected early January.

REXNORD CORP.: $460 million senior notes; Credit Suisse, Banc of America Securities LLC, UBS Investment Bank; to be issued under the indenture of the existing 9½% senior notes due Aug. 1, 2014 or 11¾% senior subordinated notes due Aug. 1, 2016; proceeds for Zurn purchase of Jacuzzi Brands, Inc.'s plumbing products business for about $950 million, expected to close 2007 first quarter; Milwaukee-based power train manufacturer; expected to come to market during January.

FREEPORT-MCMORAN COPPER & GOLD INC.: $6 billion in unsecured high-yield bonds with seven- to 10-year maturity to price in the area of 8¼%; also $10.5 billion in secured institutional term loans; financing commitment from JP Morgan, Merrill Lynch; to help fund the acquisition of Phelps Dodge for $25.9 billion in cash and stock; combined mining company will retain the name Freeport-McMoRan and be based in Phoenix; expected late January business.

ALION SCIENCE AND TECHNOLOGY CORP.: $200 million unsecured senior notes; to repay bridge loan and a portion of its senior term loan (company reached an agreement on Dec. 11, 2006 with a group of lenders that includes Credit Suisse to delay by two months applying a pending 1% premium on the bridge loan); McLean, Va., technology solutions provider delivering technical expertise and operational support to the Department of Defense; January business.

ON THE HORIZON

ARMOR HOLDINGS INC.: $400 million senior subordinated notes (B1/B+); company disclosed in a 10-Q filed Oct. 31 with the SEC that it is monitoring the interest rate environment seeking an opportunity to return with the transaction it withdrew on June 27, 2006 due to market conditions; Jacksonville, Fla., maker of security products.

CABLEVISION SYSTEMS CORP. $2.81 billion high-yield bonds: SUPER HOLDCO $1.13 billion unsecured senior fixed-rate and floating-rate notes with 10-year minimum maturities; INTERMEDIATE HOLDCO $900 million unsecured senior fixed-rate and floating-rate notes with eight-year minimum maturities; RAINBOW PROGRAMMING HOLDINGS LLC $780 million unsecured senior fixed-rate and floating-rate notes with eight-year minimum maturities; also $9.55 billion in new credit facilities via Merrill Lynch and Bear Stearns; to help fund the buyout of Cablevision by the Dolan Family Group; Cablevision is a Bethpage, N.Y., media, entertainment and telecommunications company.

CLEAR CHANNEL COMMUNICATIONS INC.: $4.1 billion high-yield bonds and $17.375 billion credit facility; Citigroup, Deutsche Bank, Morgan Stanley, Credit Suisse, RBS and Wachovia are lead banks on the debt financing; to help back its leveraged buyout by Thomas H. Lee Partners, LP and Bain Capital Partners, LLC, expected to be completed by the end of 2007; $2.6 billion senior unsecured bridge loan and a $1.5 billion senior subordinated unsecured bridge loan backing bonds; San Antonio media and entertainment company.

COMPAGNIE GENERALE DE GEOPHYSIQUE (CGG): $800 million high-yield bonds; also $1.1 billion credit facility via Credit Suisse, RBC Capital Markets, bank meeting Dec. 8; to help fund the acquisition of Veritas DGC Inc. for about $3.1 billion; CGG is a Massy, France-based provider of seismic data acquisition, processing and reservoir services to clients in the oil and gas exploration and production business.

CONSUMER SOURCE INC.: $150 million second-lien loan and/or notes; to fund dividend to Primedia Inc., which Primedia will use to extinguish all existing bank debt; Consumer Source is a New York-based publisher and distributor of free real estate and automobile guides.

EXPRESS SCRIPTS INC.: $13.4 billion of bank loans and bonds, but possibly just bank debt; financing commitment from Citigroup and Credit Suisse; to help fund buyout bid for Caremark Rx Inc.; Express Scripts is a Maryland Heights, Mo., provider of pharmacy benefit management services; transaction expected in third quarter of 2007.

INFOR GLOBAL SOLUTIONS: High-yield notes (Caa2) to refinance a $1.425 billion senior subordinated bridge facility; also $2.4 billion credit facility via JP Morgan, Credit Suisse and Merrill Lynch & Co. joint bookrunners; part of financing to help fund the acquisitions of Systems Union Group and SSA Global, finance the combination of Infor and Extensity - both currently Golden Gate Capital portfolio companies - and to refinance debt at all four companies; Infor is an Alpharetta, Ga.-based software provider.

KINDER MORGAN INC.: $14.5 billion of funded debt including senior and/or subordinated notes; to help fund proposed $22 billion buyout of the company by management and equity investors led by Goldman Sachs, Citigroup, Deutsche Bank, Wachovia, Merrill Lynch, expected to be completed by early 2007; Houston-based energy infrastructure provider.

MACDERMID INC.: $465 million high-yield bonds, also $560 million credit facility; financing to be led by Credit Suisse; public-to-private transaction in which Daniel H. Leever, chairman and CEO, and investment funds managed by Court Square Capital Partners and Weston Presidio will acquire MacDermid in a deal valued at more than $1.3 billion, including the assumption or repayment of about $301 million of debt; transaction expected to close in the first half of 2007; MacDermid is a Denver-based specialty chemical manufacturer.

OPEN SOLUTIONS INC.: $325 million senior subordinated notes; Rule 144A; also $605 million senior secured credit facility via Wachovia, JP Morgan; also $560 million equity commitment; $325 million bridge facility backing the bonds; to fund the acquisition of Open Solutions by The Carlyle Group and Providence Equity Partners, expected to be completed in first quarter of 2007.

PAPELES INDUSTRIALES DE MICHOACAN SA DE CV: $320 million senior guaranteed notes due 2016 (Ba3/BB-/BB-); Citigroup; Rule 144A/Regulation S (no registration rights); non-callable for five years, three-year equity clawback; for acquisition finance; issuer formed when Kimberly-Clark de Mexico SA de CV spun off paper and notebooks division.

PT POLYFIN CANGGIH: $75 million senior secured notes due 2011 and 250 warrants to purchase shares; Jefferies & Co.; private placement and Regulation S; non-callable for two years; two-year 35% equity clawback; to repay existing debt, for working capital and general corporate purposes; producer of polyester chips and synthetic yarn in Indonesia, to be incorporated in The Netherlands (guarantors are incorporated in Indonesia, Singapore and the British Virgin Islands; the company's registered office is in Bandung, Indonesia).

RITE AID CORP: $875 million six-year notes (could be increased by $850 million if Jean Coutu 8½% senior subordinated notes are not assumed); Citigroup; also $1.105 billion senior secured term loan; to fund the acquisition of Jean Coutu Group USA Inc., transaction expected to close late 2006 or early 2007; Rite Aid is a Camp Hill, Pa., national drugstore chain.

SBARRO INC.: $200 million high-yield bonds; Credit Suisse, Banc of America Securities LLC; also $125 million credit facility; to help fund MidOcean Partners' leveraged buyout of Sbarro, a Melville, N.Y., quick-service Italian restaurant company; expected January 2007 business.

SEITEL INC./SEITEL ACQUISITION CO.: $400 million unsecured senior notes; Morgan Stanley, Deutsche Bank and UBS; also $3.1 million first-lien debt, $275.1 million equity contribution; to help fund acquisition by ValueAct Capital; Houston-based provider of seismic data to the oil and gas industry; expected to price late January or early February 2007.

SUN HEALTHCARE GROUP INC.: $250 million senior subordinated notes; also $505 million senior secured credit facility via Credit Suisse and CIBC; to fund its acquisition of Harborside Healthcare Corp., expected to close in first half of 2007; Sun is an Irvine, Calif., operator of long-term and postacute care facilities, and a provider of therapy, medical staffing, home care and hospice services.

TELESAT: $900 million bonds and $2.2 billion credit facility; Morgan Stanley, UBS Investment Bank to lead financing; to help fund acquisition of Telesat by a joint venture company formed by Loral Space & Communications Inc. and the Public Sector Pension Investment Board, expected to close by mid-2007; new company will be one of the world's largest operators of telecommunications satellites, with a combined fleet of eleven satellites and four additional satellites to be launched over the next three years.

UNIVISION COMMUNICATIONS INC.: $2 billion high-yield bonds via Credit Suisse (Deutsche Bank, Bank of America Securities and Wachovia expected to be involved), also new $8.25 billion credit facility; to help back leveraged buyout by Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and Saban Capital Group; expected to close in spring 2007; Los Angeles-based Spanish-language media company.

THE YANKEE CANDLE CO. INC.: $525 million high-yield notes, also $775 million senior secured credit facility; financing being led by Lehman Brothers, Merrill Lynch; $300 million senior unsecured increasing-rate bridge facility and a $225 million senior subordinated increasing-rate bridge facility backing bonds; also $433.3 million equity financing; to help fund LBO by Madison Dearborn Partners, LLC, expected to launch in first quarter of 2007.

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