High Yield Calendar: $4.240 billion and €525 million deals being marketed

WEEK OF JUNE 11

PLAINS EXPLORATION & PRODUCTION CO. $400 million (decreased from $600 million) senior notes due 2015 (B1/BB-), non-callable for four years; JP Morgan, Lehman Brothers (joint books), BMO Capital Markets, BNP Paribas, RBS Greenwich Capital, Scotia Capital, TD Securities, Wachovia Securities, Calyon Securities, Comerica Securities, Deutsche Bank Securities, Fortis Securities, Wells Fargo Securities (co's); SEC registered; non-callable for four years; 12-year senior notes tranche withdrawn; for general corporate purposes; Houston-based oil and gas exploration and production company; price talk 7 5/8% area; pricing epxected Wednesday.

ALGOMA STEEL INC.: $450 million senior unsecured notes due 2015 (Caa1/B-); UBS Investment Bank; Rule 144A/Regulation S with registration rights; non-callable for four years; also $850 million credit facility; to help fund Essar Steel Holdings Ltd.'s acquisition of the company for C$1.85 billion; Algoma Steel is a Sault Ste. Marie, Ont.-based steel producer; price talk 9¾% to 10%; books close 11 a.m. ET Wednesday; pricing Wednesday afternoon.

VERSATEL AG: €525 million senior secured floating-rate notes due 2014 (B2/BB+); JP Morgan, Merrill Lynch & Co. (joint); Rule 144A/Regulation S; callable after one year at 102; to refinance debt; Düsseldorf, Germany-based broadband provider; roadshow June 11-14, pricing afterwards.

NORSKE SKOGINDUSTRIER ASA (Ba1/BB+): Benchmark-sized euro-denominated notes with expected 10-year maturity; BNP Paribas, Citigroup, Deutsche Bank; Norway-based paper and pulp company; pan-European roadshow planned for June 14-15, pricing afterwards.

WEEK OF JUNE 18

SURGICAL CARE AFFILIATES LLC $300 million: $150 million senior PIK election notes due 2015 (B3/CCC+), non-callable for four years, and $150 million senior subordinated notes due 2017 (Caa1/CCC+), non-callable for five years; Goldman Sachs & Co., JP Morgan (joint); Rule 144A for life; to help fund the acquisition of Surgical Care Affiliates by TPG Capital; roadshow starts June 13; pricing late in the June 18 week.

U.S. FOODSERVICE INC. $1.55 billion in two tranches: $1 billion senior PIK notes due 2015, non-callable for four years (PIK for life), and $550 million senior subordinated notes due 2017, non-callable for five years; Deutsche Bank Securities, Citigroup, Goldman Sachs & Co., JP Morgan, Morgan Stanley, RBS Greenwich Capital; to help fund LBO; Columbia, Md., broadline foodservice distributor; roadshow starts June 14; pricing expected June 22.

SHINGLE SPRINGS TRIBAL GAMING: $450 million senior notes due 2015 (B); Morgan Stanley (books), Wells Fargo Securities (co); Rule 144A for life/Regulation S; to fund construction of the Foothill Oaks Casino and refinance debt; Shingle Springs band of Miwok Indians, located in Shingle Springs, Calif.; roadshow starts June 13; pricing late in the June 18 week.

THOMSON LEARNING: $2.14 billion: TL ACQUISITIONS INC. $1.35 billion 7.5-year senior unsecured toggle notes (Caa1) and $250 million senior subordinated notes due 2015 (Caa2), also TL HOLDINGS INC. $540 million senior unsecured PIK toggle notes due 2015 (Caa2); JP Morgan, Citigroup, UBS Investment Bank, RBC Capital Markets, RBS Greenwich Capital; all tranches non-callable for four years; to fund LBO; Stamford, Conn., publisher of textbooks and other learning products; roadshow starts June 13; pricing June 18 week.

HYNIX SEMICONDUCTOR: $500 million (expected amount) senior unsecured notes with expected 10-year maturity (Ba3/BB-/BB); Citigroup, Credit Suisse, Goldman Sachs & Co., Korea Development Bank, Merrill Lynch & Co.; Rule 144A/Regulation S; to refinance debt; semiconductor company based in Kyongki-do, South Korea; Roadshow June 15 in Hong Kong and Los Angeles, June 18 in Singapore and Boston, June 19 in London and New York, pricing thereafter.

WEEK OF JUNE 25

DOLLAR GENERAL CORP. $1.9 billion high-yield notes: $1.35 billion senior notes due 2015 (Caa1), non-callable for four years: $625 million cash-pay notes and $725 million PIK toggle notes, also $550 million senior subordinated notes due 2017 (Caa2), non-callable for five years; Goldman Sachs & Co., Citigroup, Lehman Brothers, Wachovia Securities (joint); Rule 144A/Regulation S with registration rights; to help fund merger; Goodlettsville, Tenn., discount retailer; roadshow starts June 18; pricing week of June 25.

VARIETAL DISTRIBUTION MERGER SUB INC. (VWR INTERNATIONAL INC.): $675 million senior PIK toggle notes due 2015 (Caa1/CCC+); Goldman Sachs & Co., Banc of America Securities LLC, JP Morgan, Deutsche Bank Securities; Rule 144A/Regulation S with registration rights; non-callable for four years; to refinance debt and fund acquisition; West Chester, Pa., laboratory equipment company; roadshow starts June 18; pricing June 25 week.

EXPECTED JUNE BUSINESS

BIOMET INC.: $2.565 billion: $775 million senior notes (B3/B-), $775 million senior PIK notes (B3/B-), $1.1015 billion senior subordinated notes (Caa1/B-); Banc of America Securities LLC, Goldman Sachs & Co., Bear Stearns & Co., Lehman Brothers, Wachovia Securities; also $4.35 billion senior secured credit facility; to finance LBO; Warsaw, Ind., designer and manufacturer of musculoskeletal medical products; expected June business.

EUROFINS SCIENTIFIC: €68 million perpetual securities; Dresdner Kleinwort, HSBC; non-callable for seven years; for general corporate purposes; Brussels-based life sciences company.

GREAT ATLANTIC & PACIFIC TEA CO. INC.: $780 million senior secured high-yield bonds; Banc of America Securities LLC, Lehman Brothers, also $600 million ABL revolver; to help fund its purchase of Pathmark Stores Inc. for $1.3 billion in cash, stock and debt assumption or retirement, expected to be completed during the second half of A&P's fiscal 2007 year, structure of financing and timing pending market conditions; A&P is a Montvale, N.J.-based supermarket chain.

THE SERVICEMASTER CO.: $1.15 billion high-yield bonds; Citigroup, Banc of America Securities LLC, JP Morgan; also $3.35 billion credit facility; to fund the LBO of the company by Clayton, Dubilier & Rice, Inc., total enterprise value is $5.5 billion; expected late second-quarter business.

ON THE HORIZON

AEROFLEX INC.: $370 million senior subordinated unsecured high-yield securities; also $560 million credit facility; Goldman Sachs & Co. leads debt financing; to help fund LBO of the company by Veritas Capital for $1.1 billion; Plainview, N.Y., provider of technology services to the aerospace, defense, cellular and broadband communications markets.

AFFILIATED COMPUTER SERVICES INC.: $2.515 billion of high-yield notes and $4.05 billion senior secured credit facility; to help finance public-to-private bid by Darwin Deason, founder and chairman, and Cerberus Capital Management LP for about $8.2 billion; Citigroup has provided the bidders with a "highly confident" letter regarding its ability to raise the necessary debt; investment partners are prepared to enter into negotiations with the company immediately and are ready to move quickly to complete the transaction; Dallas-based provider of business process outsourcing and information.

CATALINA MARKETING CORP.: $490 million high-yield bonds and $760 million credit facility in LBO financing via Morgan Stanley, Bear Stearns & Co., Goldman Sachs & Co.; Catalina, St. Petersburg, Fla., provider of behavior-based promotional messaging, loyalty programs and direct-to-patient information, is being acquired by Hellman & Friedman Capital Partners VI, LP for $1.7 billion, in transaction expected to be completed during third quarter of 2007.

CEVA GROUP PLC: $1.447 billion senior unsecured notes and/or senior unsecured PIK toggle notes; also $1.5 billion credit facility; Credit Suisse, Morgan Stanley, Bear Stearns, JPMorgan, UBS leads on debt financing; to help fund its acquisition of EGL Inc. expected to close in the third quarter; CEVA is a Hoofddorp, Netherlands-based logistics and supply chain management company.

CLEAR CHANNEL COMMUNICATIONS INC.: $2.6 billion high-yield bonds (decreased from $4.1 billion) and $19.525 billion credit facility (upsized from $17.375 billion); Citigroup, Deutsche Bank, Morgan Stanley, Credit Suisse, RBS Greenwich Capital 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; also $3.44 billion sponsor equity; San Antonio media and entertainment company.

COMMUNITY HEALTH SYSTEMS INC.: $3.365 billion unsecured notes (B3); Credit Suisse, Wachovia Securities, backed by $3.365 billion bridge loan; also $6.95 billion credit facility; to help fund acquisition of Triad Hospitals Inc.; Nashville operator of general acute care hospitals in non-urban communities; expected in market during second or third quarter of 2007.

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.

FIRST DATA CORP.: $8 billion notes; Citigroup plus others; also $16 billion bank loan, bank meeting May 30; to fund Kohlberg Kravis Roberts & Co.'s $34-per-share buyout of First Data; Greenwood Village, Colo., check and credit card transaction services provider.

HARMAN INTERNATIONAL INDUSTRIES INC.: $1.74 billion high-yield bonds; also new credit facility; Banc of America Securities LLC, Credit Suisse, Goldman Sachs & Co., Lehman Brothers; part of financing for LBO by Kohlberg Kravis Roberts & Co. LP and GS Capital Partners, expected in the third quarter; manufacturer of high fidelity audio products.

INTEGRA TELECOM INC.: $215 million senior notes; Deutsche Bank and CIBC have provided the company with the commitment letter to purchase the notes; also $965 million revolver via Deutsche Bank, Morgan Stanley and CIBC; to help fund the acquisition of Minneapolis-based Eschelon Telecom, Inc. and repay Eschelon debt; transaction expected to close in third quarter of 2007; Integra is a Portland, Ore.-based provider of telecommunications and internet services for businesses.

INVERNESS MEDICAL INNOVATIONS INC.: $317.5 million senior subordinated notes (decreased from $450 million) backed by bridge from UBS and General Electric Capital Corp.; also $1.3 billion credit facility; financing for acquisition of Biosite Inc.; Inverness is a Waltham, Mass.-based diagnostic devices company.

LAUREATE EDUCATION INC. $1.05 billion: $725 million senior unsecured notes and $325 million senior subordinated notes, also $1.15 billion credit facility; financing led by Goldman Sachs, Citigroup; to help fund LBO expected to close in June; Baltimore-based provider of higher education.

MYERS INDUSTRIES INC.: $265 million senior secured notes via Rule 144A and $685 million credit facility; Goldman Sachs & Co. lead on debt financing; to help fund acquisition of the company by GS Capital Partners in a transaction valued at $1.07 billion; Akron, Ohio, manufacturer of polymer products for industrial, agricultural, automotive, commercial and consumer markets.

MYLAN LABORATORIES INC.: $2.85 billion senior notes and $4.85 billion credit facility in financing led by Merrill Lynch, Citigroup and Goldman Sachs & Co.; to help fund acquisition of Merck KgaA's generic business, expected to close in the second half of 2007; Canonsburg, Pa., pharmaceutical company.

REXAM PLC: Up to £500 million equivalent subordinated hybrid securities due 2067 (Ba2/BB+); Barclays Capital, Citigroup (joint); also offering of 58,354,700 new ordinary shares (representing 9.99% of Rexam's issued ordinary share capital prior to the placing); proceeds, in addition to proceeds from the sale of Rexam's glass business, to help fund $1.825 billion acquisition of OI Plastic Products FTS Inc., transaction expected to close third-quarter 2007; consumer packaging beverage can manufacturer based in London; to be launched, subject to market conditions, following a U.K. and European roadshow.

RIVERDEEP INTERACTIVE LEARNING USA: $820 million senior subordinated notes; Credit Suisse, Citigroup (joint); proceeds along with $1.87 billion senior bank debt, $750 million mezzanine debt and $1.5 billion equity to fund the acquisition of Houghton Mifflin by Riverdeep from Thomas H. Lee Partners, Bain Capital Partners, LLC and Blackstone Group for $3.4 billion; Riverdeep, based in Dublin, Ireland, is a publisher of interactive products for the consumer and school markets.

SLM CORP. (SALLIE MAE): $4 billion senior secured second-lien notes; backed by $4 billion bridge financing via Bank of America and JP Morgan; also $12.5 billion term loan; to fund LBO by an investor group led by J.C. Flowers & Co. expected to close late 2007.

SOURCE INTERLINK COS. INC.: High-yield bonds and bank debt to fund acquisition of Primedia Inc.'s Enthusiast Media division, expected to close mid-summer; single-B credit ratings expected, 9% area expected interest rate on bonds; Bonita Springs, Fla., provider of merchandising and fulfillment services for home entertainment products.

TELESAT: $900 million senior notes 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.

TRIBUNE CO.: $2.1 billion senior notes or senior subordinated notes backed up by $2.1 billion bridge via Merrill Lynch, JPMorgan, Citigroup and Bank of America; also $10.133 billion credit facility; to help finance public-to-private transaction; Chicago-based media company; expected to be completed by end of 2007.

PIK LOANS (NOTES VIA REPACKAGING)

MASAMPE HOLDING BV/GRUPO CODERE: €340 million PIK loans due Dec. 15, 2015 (six months outside the existing senior notes); Credit Suisse; callable in 12 months at par; will be repackaged as notes; to refinance existing PIK and pay April 2007 vendor note installment; Spain-based gaming company; London launch on June 13; to price at 99.00 with a coupon that will float at a spread to three-month Euribor; Spanish gaming company.

PRIVATE PLACEMENT

BIO SOLUTIONS MANUFACTURING INC.: $31.2 million senior secured notes due 2014 with warrants; Regulation D/Regulation S; to finance up to 12 biodiesel fuel facilities and for working capital and general corporate purposes; Las Vegas-based developer of microbiological products for waste bioremediation.

INCOME DEPOSIT SECURITIES

OTELCO INC. 3 million income deposit securities representing 3 million shares of class A common stock and $22.5 million 13% senior subordinated notes due 2019; CIBC World Markets, UBS Investment Bank, Raymond James; to pay down term loan that matures on July 3, 2011; Oneonta, Ala., traditional wireline telephone services provider in several rural communities in Alabama, Maine and Missouri.

ROADSHOWS

Starts June 11 week: THOMSON LEARNING $2.14 billion; RBS Greenwich Capital, Citigroup, UBS Investment Bank

June 11-14: VERSATEL AG €525 million; JP Morgan, Merrill Lynch & Co.

Starts June 13: SURGICAL CARE AFFILIATES LLC $300 million; Goldman Sachs & Co., JP Morgan

Starts June 13: SHINGLE SPRINGS TRIBAL GAMING $450 million; Morgan Stanley

Starts June 13: THOMSON LEARNING $2.14 billion; JP Morgan, Citigroup, UBS Investment Bank, RBC Capital Markets, RBS Greenwich Capital

June 14-15: NORSKE SKOGINDUSTRIER ASA Benchmark-sized euro-denominated notes; BNP Paribas, Citigroup, Deutsche Bank

Starts June 14: U.S. FOODSERVICE INC. $1.55 billion; Deutsche Bank Securities, Citigroup, Goldman Sachs & Co., JP Morgan, Morgan Stanley, RBS Greenwich Capital

Starts June 15: HYNIX SEMICONDUCTOR expected $500 million; Citigroup, Credit Suisse, Goldman Sachs & Co., Korea Development Bank, Merrill Lynch & Co.

Starts June 18: DOLLAR GENERAL CORP. $1.9 billion; Goldman Sachs & Co., Citigroup, Lehman Brothers, Wachovia Securities

Starts June 18: VARIETAL DISTRIBUTION MERGER SUB INC. (VWR INTERNATIONAL INC.) $675 million; Goldman Sachs & Co., Banc of America Securities LLC, JP Morgan, Deutsche Bank Securities

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