High Yield Calendar: $2.015 billion deals being marketed

WEEK OF JAN. 22

ALION SCIENCE AND TECHNOLOGY CORP.: $250 million (upsized from $200 million) unsecured senior notes due 2015 (CCC+); Credit Suisse (sole); Rule 144A with registration rights; non-callable for four years; to repay bridge loan and a portion of its senior term loan; McLean, Va., technology solutions provider delivering technical expertise and operational support to the Department of Defense; price talk 10¼% to 10 3/8% (revised from 10½% area); pricing expected Friday.

GREIF INC.: $300 million senior notes due 2017 (Ba2/BB-); Deutsche Bank Securities (sole books), Banc of America Securities LLC, KeyBanc, NatCity Investments, ING, Piper Jaffray (co's); Rule 144A; make-whole call at Treasuries plus 50 bps; change-of-control put at 101; to fund the tender for the 8 7/8% senior subordinated notes; Delaware, Ohio, industrial packaging company; price talk 6 5/8% to 6¾%; books close 4 p.m. ET Thursday; pricing Friday morning.

THE COOPER COS. INC.: $350 million senior notes due 2015 (Ba3/BB-); Citigroup, Credit Suisse; Rule 144A with registration rights; non-callable for four years; 35% equity clawback; change-of-control put at 101; proceeds along with new revolver to repay term loan debt; Lake Forest, Calif., manufacturer and marketer of diagnostic products, surgical instruments and accessories to the women's health care market; price talk 7% to 7¼%; pricing Friday.

WEEK OF JAN. 29

TRANSDIGM INC.: $250 million add-on to 7¾% senior subordinated notes due July 15, 2014 (B-); Credit Suisse, Lehman Brothers (joint); Rule 144A; callable on June 15, 2009; to help finance $430 million acquisition of Aviation Technologies, Inc.; Cleveland-based designer, producer and supplier of aircraft components; original $275 million issue priced at par on June 20, 2006; investor call Wednesday morning; pricing Thursday.

BMS HOLDING CO.: $150 million floating-rate PIK notes due 2012 (Caa2/CCC+); JP Morgan; Rule 144A for life; callable after six months at par; to fund a dividend; holding company for Bankruptcy Management Solutions, a former subsidiary of JPMorgan Chase, providing bankruptcy services, headquarters in Irvine, Calif.; roadshow started Jan. 22; pricing expected Jan. 31.

THE YANKEE CANDLE CO. INC. $525 million notes (B3/CCC+) in two tranches: $300 million senior unsecured notes due 2015 and $225 million senior subordinated notes due 2017; Lehman Brothers, Merrill Lynch & Co.; Rule 144A; also $775 million senior secured credit facility; also $433.3 million equity financing; to help fund LBO by Madison Dearborn Partners, LLC; South Deerfield, Mass., scented candle company; roadshow started Jan. 24; pricing Feb. 1.

WEEK OF FEB. 5

PGS INC.: $190 million senior subordinated notes due 2015 (B-); Wachovia Securities, Goldman Sachs (joint); non-callable for four years; to fund the LBO of the company by Veritas; Troy, Mich., provider of information management and outsourcing services to government agencies; roadshow begins Jan. 30; pricing expected Feb. 7.

EXPECTED LATE JANUARY/EARLY FEBRUARY

GREAT CANADIAN GAMING CORP.: $170 million subordinated notes due 2015 (B2/B+); Goldman Sachs & Co.; Rule 144A for life/Regulation S; non-callable for four years; also $400 million credit facility; to repay the company's bridge loan and provide working capital, capital expenditures and for general corporate purposes; gaming and entertainment company based in Richmond, B.C.; roadshow expected to start Jan. 29 week.

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.

AXTEL SA DE CV: $250 million senior unsecured notes due 2017 (Ba3/BB-); Credit Suisse; Rule 144A/Regulation S; non-callable for five years; 35% equity clawback; change-of-control put at 101.0; to partially repay $311 million bridge loan; Mexican telecommunications firm.

ON THE HORIZON

ADESA INC.: $1.1 billion high yield bonds; also $1.79 billion credit facility; Bear Stearns, UBS, Goldman Sachs, Deutsche Bank Securities lead banks on financing; bonds backed by $600 million senior unsecured bridge loan and $500 million senior subordinated unsecured bridge loan; to finance LBO by Kelso & Co., GS Capital Partners, ValueAct Capital and Parthenon Capital in a transaction valued at approximately $3.7 billion; Carmel, Ind., provider of wholesale vehicle auctions and used vehicle dealer floorplan financing.

ADVANCED MEDICAL OPTICS INC.: $200 million to $300 million high-yield bonds; also $500 million to $600 million credit facility via UBS, Bank of America and Goldman Sachs (UBS left lead); to fund acquisition of Irvine, Calif.-based laser vision correction products company IntraLase Corp. for about $808 million in cash, expected to be completed early in the second quarter; Santa Ana, Calif.-based Advanced Medical develops and manufactures medical devices for the eyes.

AMERICAN PACIFIC CORP.: $110 million senior notes due 2015 (B2/B); Rule 144A/Regulation S; to refinance existing credit facilities, fund an earnout in connection with the 2005 purchase of its fine chemicals business and repay other debt related to the purchase of its fine chemicals business, remaining proceeds, if any, for general corporate purposes; manufacturer of specialty and fine chemicals, headquarters in Las Vegas.

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.

COMPAGNIE GENERALE DE GEOPHYSIQUE (CGG): $600 million (decreased from $800 million) high-yield bonds; also $1 billion term loan (upsized from $800 million) via Credit Suisse, RBC Capital Markets; 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.

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.

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.

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.

HUNGARIAN TELEPHONE AND CABLE CORP. (HTTC): €200 million floating-rate notes; Merrill Lynch & Co., BNP Paribas, Calyon Securities; in connection with HTTC's acquisition of Invitel; HTTC, 62% owned by Danish telecom, TDC, with remaining shares traded on Nasdaq, has headquarters in Budapest and Seattle; expected in second 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.

OSI RESTAURANT PARTNERS INC.: $800 million high-yield notes; Banc of America Securities LLC, Deutsche Bank; also $1.35 billion credit facility; to fund the LBO by an investor group comprised of Bain Capital Partners, LLC, Catterton Partners and company founders Chris T. Sullivan, Robert D. Basham and J. Timothy Gannon, expected to close prior to the end of April 2007; Tampa, Fla., casual dining restaurants company.

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.

REALOGY CORP.: $3.65 billion bonds expected to be comprised of $2 billion senior unsecured notes, $750 million senior unsecured PIK toggle notes and $900 million senior subordinated notes; JP Morgan, Credit Suisse, Bear Stearns, Citigroup (joint); also $4.27 billion credit facility; also $1.99 billion equity commitment; to fund the approximately $9 billion LBO by Apollo Management expected to close in the spring of 2007; Parsippany, N.J., real estate franchisor.

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.

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.

STENA AB: €300 million senior notes due 2017; JP Morgan; Rule 144A/Regulation S; to fund a cash tender for 9 5/8% senior notes due 2012 and for general corporate purposes; Gothenburg, Sweden-based company has operations in shipping and offshore oil and gas exploration; expected to be completed in early February.

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.

ROADSHOWS

Started Jan. 22: BMS HOLDING CO. $150 million; JP Morgan

Started Jan. 24: THE YANKEE CANDLE CO. INC. $525 million; Lehman Brothers, Merrill Lynch & Co.

Starts Jan. 25: INVACARE CORP. $175 million; Banc of America Securities LLC

Starts Jan. 29 week: GREAT CANADIAN GAMING CORP. $170 million; Goldman Sachs & Co.

Starts Jan. 30: PGS INC. $190 million; Wachovia Securities, Goldman Sachs

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