High Yield Calendar: $4.66 billion and €1.875 billion deals being marketed

APRIL 26 WEEK

LENNAR CORP.: $250 million senior notes due 2018 (B3); Citigroup Global Markets Inc., J.P. Morgan Securities Inc. (joint); Rule 144A/Regulation S; also concurrent $250 million convertibles; to fund tender for $200 million 5 1/8% senior notes due 2010, its 5.95% senior notes due 2011 and 5.95% senior notes due 2013, and for general corporate purposes, which may include the repayment or repurchase of its existing senior notes or other debt; price talk 7 1/8% area; Miami-based homebuilder and provider of financial services; price talk 7 1/8% area.

AK STEEL CORP.: $400 million senior notes due 2020; Credit Suisse, Bank of America Merrill Lynch; SEC registered; non-callable for five years; 101% poison put; to fund tender for 7¾% senior notes due 2012; West Chester, Ohio-based producer of flat-rolled carbon, stainless and electrical steels and tubular products; investor call 10:30 a.m. ET Tuesday; pricing Tuesday afternoon.

ZIGGO BOND CO. BV: €1.2 billion senior unsecured notes due 2018; Credit Suisse, Goldman Sachs (joint physical books), BNP Paribas, Deutsche Bank, ING, JPMorgan (joint books), Morgan Stanley, RBS Securities (lead managers), Fortis Investments, Lloyds, Natixis Bleichroeder, Nomura, Rabo Bank, SG Corporate & Investment Banking (co's); non-callable for four years; to refinance mezzanine debt; Netherlands-based cable company; price talk 8¼% area; books close 7 a.m. ET on Tuesday.

AMERICAN RENAL HOLDINGS INC.: $225 million senior secured notes due 2018 (B2/B); Bank of America Merrill Lynch, Barclays Capital Inc., Wells Fargo Securities (joint); Rule 144A with registration rights; non-callable for three years; 101% poison put; proceeds to be deposited into escrow account and, upon release, to be used in conjunction with a cash equity investment from Centerbridge Partners LP, to fund the acquisition of the company and repay debt; Beverly, Mass.-based provider of kidney dialysis services; price talk 8½% to 8¾% all in yield, at a to-be-determined discount; books close noon ET Tuesday; pricing Tuesday afternoon.

SYNCREON GLOBAL (IRELAND) LTD.: $300 million senior unsecured notes due 2018 (B3/B); J.P. Morgan Securities Inc., Goldman Sachs & Co. (joint), KBC Bank; Rule 144A/Regulation S for life; non-callable for four years; to repay debt and for general corporate purposes; Auburn Hills, Mich.-based logistics and supply chain solutions service provider; price talk 9½% area; books close at 10 a.m. ET Tuesday; pricing midday Tuesday.

REYNOLDS GROUP ISSUER LLC: $1 billion senior unsecured notes due 2018; Credit Suisse (sole); Rule 144A/Regulation S with registration rights; non-callable for four years; 101% poison put; to help fund the acquisitions of the Evergreen Packaging group of companies and the Whakatane Mill from Carter Holt Harvey Ltd.; Reynolds Group is an Auckland, New Zealand-based manufacturer and supplier of consumer food and beverage packaging and storage products; price talk 8½% area yield; books close 5 p.m. ET Tuesday (10 a.m. ET Wednesday for West Coast account), pricing thereafter.

ESSAR STEEL HOLDINGS LTD. and GALLOP HOLDINGS LLC: Benchmark dollar denominated senior unsecured notes due 2017 (B2/B); UBS Investment Bank, Bank of America Merrill Lynch, Deutsche Bank Securities, Standard Chartered Bank (joint); Rule 144A/Regulation S for life; non-callable for four years; to refinance existing debt, fund capital expenditures and acquisitions, and for general corporate purposes; vertically integrated global steel producer based in Mumbai, India; roadshow April 12-22 (deal delayed due to travel circumstances related to volcanic ash in Europe).

CIRSA FUNDING LUXEMBOURG SA: €400 million senior notes due 2018 (B+); Deutsche Bank Securities; non-callable for four years; also €30 million revolver; to repay existing €270 million unsecured bonds due 2014, to repay other debt and for general corporate purposes; Madrid-based gaming company; roadshow April 26-27.

PENSON WORLDWIDE, INC.: $200 million senior secured second-lien notes due 2017 (B1/BB-); J.P. Morgan Securities Inc., UBS Investment Bank (joint), Morgan Keegan & Co. Inc., JMP Securities (co's); Rule 144A/Regulation S for life; non-callable for four years; to repay credit facility and make a capital contribution to regulated subsidiaries; Dallas-based provider of securities clearing, margin lending and other related services to the brokerage industry; roadshow April 21-27; pricing expected April 28.

SOUTHERN STATES COOPERATIVE, INC.: $125 million senior notes due 2015 (B3/expected B+); Jefferies & Co. (sole); Rule 144A for life; non-callable for three years; to refinance outstanding senior notes due 2011 and make a contribution to its pension plan; Richmond, Va.-based supplier of agricultural products and services east of the Mississippi River; roadshow April 21-29.

COOPER-STANDARD AUTOMOTIVE INC.: $450 million senior notes due 2018; Deutsche Bank Securities Inc. (left books), Bank of America Merrill Lynch, Barclays Capital Inc., UBS Investment Bank (joint books); Rule 144A with registration rights; non-callable for four years; to repay debtor-in-possession loan and other debt; Novi, Mich., manufacturer and marketer of systems and components for the automotive industry; roadshow April 22-29.

LEVI STRAUSS & CO. Senior notes in two tranches (B2): $460 million due 2020, non-callable for five years, and €275 million due 2018, non-callable for four years; Bank of America Merrill Lynch, J.P. Morgan Securities Inc. (joint), HSBC Securities, Scotia Capital, UBS Investment Bank (co's); Rule 144A/Regulation S with registration rights; 101% poison put; to refinance 8 5/8% euro senior notes due 2013 and 9¾% senior notes due 2015, and general corporate purposes; San Francisco-based apparel company; pricing April 29.

PATRIOT COAL CORP.: $250 million senior unsecured notes due 2018 (expected ratings B3/B+); Citigroup, Bank of America Merrill Lynch, Barclays Capital Inc.; SEC registered; non-callable for four years; for general corporate purposes; St. Louis-based producer and marketer of coal; expected to price April 29.

PAN AMERICAN ENERGY LLC, ARGENTINA BRANCH: Dollar-denominated notes with 11-year final maturity, 10-year average life (Ba2//BB-); Credit Agricole CIB, HSBC, JPMorgan (joint); Rule 144A/Regulation S; company is involved in exploration, development and production of oil and gas in Argentina; roadshow April 27-29.

AMERICOLD WAREHOUSE INVESTMENT PORTFOLIO LLC: $300 million senior secured notes due 2020; Goldman Sachs & Co., Deutsche Bank Securities Inc., RBC Capital Markets Corp.; Rule 144A with registration rights; non-callable for five years (up to 10% of issue redeemable annually at 103.0, until 2013); proceeds, in addition to proceeds from concurrent IPO, to fund acquisition of assets from Versacold and for general corporate purposes; Atlanta-based temperature controlled warehouse real estate investment trust; roadshow April 19-30.

DSW HOLDINGS, INC.: $475 million senior secured notes due 2017 (B3/CCC+); Morgan Stanley & Co. Inc., J.P. Morgan Securities Inc., Barclays Capital Inc. (joint), Jefferies & Co. (co); Rule 144A for life; non-callable for three years; proceeds, together with cash on hand, to repay certain outstanding debt; holding company for Atlanta-based DS Waters of America, Inc., a manufacturer and distributor of home, office and retail bottled water; conference call 11 a.m. ET on April 22; pricing week of April 26.

GLORIOUS PROPERTY HOLDINGS LTD.: Dollar-denominated global bonds (expected B1/confirmed B); Deutsche Bank Securities, JPMorgan, Standard Chartered Bank; Hong Kong-based mainland China property developer; roadshow started April 15.

MAY 3 WEEK

LANTHEUS MEDICAL IMAGING, INC.: $225 million senior notes due 2017 (mid-to-high single-B ratings expected); Jefferies & Co. (sole books), BMO Nesbitt Burns, Natixis Bleichroeder (co's); Rule 144A with registration rights; non-callable for four years; to refinance existing credit facilities and to repurchase a portion of its outstanding preferred stock; Billerica, Mass.-based specialty pharmaceutical company that develops, manufactures and distributes innovative diagnostic medical imaging products; roadshow April 26-May 4.

ON THE HORIZON

ANWORTH MORTGAGE ASSET CORP.: $600 million; Santa Monica, Calif.-based real estate investment trust focusing on mortgage-backed securities and residential mortgage loans.

ASG CONSOLIDATED LLC: $275 million subordinated notes and $125 million of holdco notes; also $475 million credit facility led by Bank of America, Wells Fargo and DNB; to refinance existing debt (tender offer for 11½% senior discount notes due 2011 will expire on May 17); Seattle-based harvester, processor, preparer and supplier of seafood.

BWAY HOLDING CO.: $200 million senior unsecured bridge loan and $565 million senior secured credit facilities; Bank of America Merrill Lynch, Deutsche Bank Securities; to fund buyout of BWAY by Madison Dearborn Partners LLC, valued at $915 million, including the assumption of debt; go-shop period until April 28, 2010; Atlanta-based supplier of general line rigid containers.

CDW CORP.: $1.94 billion notes: $890 million senior unsecured cash-pay notes due 2015 (Caa1/CCC+), $300 million senior unsecured PIK toggle notes due 2015 (Caa1/CCC+) and $750 million senior subordinated notes due 2017 (Caa2/CCC+); J.P. Morgan Securities Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co.; to refinance bridge loan related to LBO; Vernon Hills, Ill., provider of technology products and services.

CKE RESTAURANTS INC.: $150 million of senior unsecured notes; also $450 million credit facility and up to $440 million in equity; to finance acquisition by Thomas H. Lee Partners, expected second quarter of 2010, Bank of America and Barclays are the lead banks on the financing; Carpinteria, Calif.-based owner of Carl's Jr. and Hardee's quick-service restaurant chains.

DYNCORP INTERNATIONAL INC.: $455 million senior unsecured notes and $715 million senior secured credit facility; Bank of America, Citigroup, Barclays Capital, Deutsche Bank Securities; to help fund its acquisition by Cerberus Capital Management LP, expected to close third or fourth quarter of 2010; Falls Church, Va.-based government services provider in support of U.S. national security and foreign policy objectives.

GENON ENERGY: New senior notes and new credit facility; to finance part of its creation through the merger of Mirant Corp. and RRI Energy Inc., expected to close before the end of 2010; GenOn will be a Houston-based power producer.

HAWKEYE GROWTH LLC (HAWKEYE RENEWABLES): Up to $150 million first-lien notes; PrinceRidge Group; proceeds, along with cash on hand, to refinance debt; Ames, Iowa-based ethanol producer.

INEOS GROUP LTD.: Approximately €1 billion in new senior secured high-yield notes and term loans; Barclays Capital and JPMorgan joint coordinators and bookrunners for the loans and solicitation agents for notes; to refinance a portion of its senior loan debt; Lyndhurst, England-based chemical company is expected to seek consent of existing bond and loan-holders during March 15 week.

SPECTRUM BRANDS INC.: $750 million senior secured notes due 2017; Credit Suisse, Bank of America, Deutsche Bank; also $1.05 billion credit facility; to help refinance debt as part of merger with Russell Hobbs Inc.; Atlanta-based consumer products company.

TERPHANE, INC.: $90 million secured notes due 2017; PrinceRidge Group (sole); Rule 144A for life; non-callable for four years; to repay Libor plus 970 bps secured notes and 12% secured notes; polyester films manufacturer based in Bloomfield, N.Y., and Sao Paulo.

TRIUMPH GROUP INC.: $400 million high-yield notes and $300 million term loan (loan could launch late April or early May; RBC Capital Markets is leading the financing; to fund the acquisition of Vought Aircraft Industries, Inc.; funding also includes $189 million under the existing revolver and accounts receivable securitization facility and $292 million cash on hand; Triumph is a Wayne, Pa.-based designer, engineer, manufacturer and repairer of aircraft components and accessories.

ROADSHOWS

April 12-22: ESSAR STEEL HOLDINGS LTD. and GALLOP HOLDINGS LLC Benchmark; UBS Investment Bank, Bank of America Merrill Lynch, Deutsche Bank Securities, Standard Chartered Bank.

Started April 15: GLORIOUS PROPERTY HOLDINGS LTD. Dollar-denominated global bonds; Deutsche Bank Securities, JPMorgan, Standard Chartered Bank.

April 19-26: SYNCREON GLOBAL (IRELAND) LTD. $300 million; JPMorgan, Goldman Sachs & Co.

April 19-30: AMERICOLD WAREHOUSE INVESTMENT PORTFOLIO LLC $300 million; Goldman Sachs & Co., Deutsche Bank Securities Inc., RBC Capital Markets Corp.

April 21-27: PENSON WORLDWIDE, INC. $200 million; J.P. Morgan Securities Inc., UBS Investment Bank.

April 21-28: AMERICAN RENAL HOLDINGS INC. $225 million; Bank of America Merrill Lynch, Barclays Capital Inc., Wells Fargo Securities.

April 22-27: ZIGGO BOND CO. BV €1.2 billion; Credit Suisse, Goldman Sachs.

April 21-29: SOUTHERN STATES COOPERATIVE, INC. $125 million; Jefferies & Co.

April 22-29: COOPER-STANDARD AUTOMOTIVE INC. $450 million; Deutsche Bank Securities Inc.

Pricing April 26 week: DSW HOLDINGS, INC. $475 million; Morgan Stanley & Co. Inc., J.P. Morgan Securities Inc., Barclays Capital Inc.

Pricing mid-April 26 week: REYNOLDS GROUP ISSUER LLC $1 billion; Credit Suisse.

Pricing April 29: LEVI STRAUSS & CO. $460 million and €275 million; Bank of America Merrill Lynch, J.P. Morgan Securities Inc.

Pricing expected April 29: PATRIOT COAL CORP. $250 million; Citigroup Global Markets Inc., Bank of America Merrill Lynch, Barclays Capital Inc.

April 26-27: CIRSA FUNDING LUXEMBOURG SA €400 million; Deutsche Bank Securities

April 26-May 4: LANTHEUS MEDICAL IMAGING, INC.: $225 million; Jefferies & Co.

April 27-29: PAN AMERICAN ENERGY LLC, ARGENTINA BRANCH Dollar-denominated notes; Credit Agricole CIB, HSBC, JPMorgan

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