High Yield Calendar: $550 million deal being marketed

November 28 Week

PHH CORP.: $250 million notes due Jan. 30, 2019 (expected ratings Ba2/BB+/BB+); Citigroup Global Markets (joint active books; bill and deliver), J.P. Morgan Securities LLC (joint active books), Bank of America Merrill Lynch, Goldman Sachs & Co., RBS Securities Inc., Wells Fargo Securities LLC (joint passive books), BNS Capital Partners, RBC Capital Markets (co's); SEC registered; non-callable (with make-whole); 101% poison put; to repay 2012 convertible notes (pending that repayment proceeds may be used to temporarily repay borrowings under PHH's amended credit facility, originate mortgage loans or may be invested temporarily in short-term interest-bearing investment funds or similar assets; Mount Laurel, N.J.-based outsource provider of mortgage and vehicle fleet management services; pricing expected Thursday.

December 5 Week

EXPERT GLOBAL SOLUTIONS, INC., formerly known as NCO GROUP, INC.: $300 million eight-year senior notes (Caa1); Deutsche Bank Securities Inc. (left books), Barclays Capital Inc., J.P. Morgan Securities LLC and RBS Securities Inc. (joint books); Rule 144A and Regulation S; non-callable for four years; also $870 million credit facility, and $300 million equity; to refinance debt and to help fund the merger of NCO Group and APAC Customer Services into Expert Global Solutions; Horsham, Pa.-based provider of business process outsourcing services; roadshow Dec. 6-12.

Expected Fourth Quarter Business

CKX ENTERTAINMENT, INC.: $360 million senior secured second-lien notes due 2019 (/B-/); Goldman Sachs & Co. (left books), Macquarie Group Ltd. (joint books); Rule 144A and Regulation S; non-callable for four years; to fund the purchase of common stock and repay existing credit facility; New York City-based owner and developer of entertainment content.

CONVERGEX HOLDINGS LLC: New senior notes, revolver and first-lien term loan; Bank of America Merrill Lynch, Barclays Capital Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. Inc., Citigroup Global Markets Inc.; to help fund the acquisition of ConvergEx by CVC Capital Partners from GTCR, expected to close Fall 2011 subject to financing and regulatory approval; New York-based technology company providing mission-critical proprietary software products and technology-enabled services to asset managers and financial intermediaries.

CVR ENERGY, INC.: $275 million high-yield notes; Deutsche Bank Securities Inc., RBS Securities Inc., Barclays Capital Inc.; to fund the acquisition of Gary-Williams Energy Corp.; CVR is a Sugar Land, Texas-based refiner and marketer of transportation fuels; expected December business.

DATATEL INC.: High-yield bonds via J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC; to help fund the acquisition of SunGard Higher Education by Hellman & Friedman LLC and the concurrent merger with Datatel, for $1.775 billion in cash; SunGard Higher Education is a Malvern, Pa.-based provider of software and services to higher education; Datatel is a Fairfax, Va.-based provider of technology products and services to higher education; expected 2011 business.

ENERGY TRANSFER EQUITY, LP: $3.2 billion high-yield bonds to help complete the $7.9 billion merger of Energy Transfer and Southern Union Co., including repayment of $3.7 billion of Southern Union debt, expected to close in the first quarter of 2012; Energy Transfer is a Dallas-based oil and gas pipeline company.

GREENFIELD ETHANOL INC.: C$175 million of five-year senior second-lien notes (/B+//DBRS: B); Scotia Capital Inc. (lead); Macquarie Capital Markets Canada Ltd., Societe Generale (Canada) and TD Securities Inc. (co-managers); non-callable for three years, 101% change-of-control put; equity clawback for up to 35% in first three years; Canada call at 50 bps over Canadian government benchmark; guarantors GreenField Ethanol (Johnstown) Inc.; GreenField Ethanol (Hensall) Inc.; GreenField Hensall LP; GreenField Hensall GP Inc.; Pharmco Products Inc.; Aaper Alcohol and Chemical Co., Aaper Holdings Inc.; GreenField Ethanol of Quebec Inc. and all future restricted subsidiaries of GreenField.; proceeds to repay debt, to terminate existing interest rate swap agreements and for general corporate purposes; Ontario-based GreenField Ethanol is Canada's largest ethanol company.

SAMSON INVESTMENT CO.: $2.25 billion of high-yield bonds to help fund acquisition of company by Kohlberg Kravis Roberts & Co. LP, Natural Gas Partners, Crestview Partners and Itochu Corp.; also $2.25 billion ABL credit facility; J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Barclays Capital Inc., BMO Capital Markets, Citigroup Global Capital Markets Inc., Credit Suisse Securities (USA) LLC, RBC Capital Markets LLC, Wells Fargo Securities LLC, Mizuho Securities USA Inc. and Jefferies & Co. are the lead banks on the financing; closing expected by year-end; Tulsa, Okla.-based private exploration and production company.

TRINSEO MATERIALS OPERATING SCA: $450 million six-year senior notes (B3/B), non-callable for three years (structure changed from seven-year non-call-four); Barclays Capital Inc. (left lead), Deutsche Bank Securities Inc., BMO Securities, Citigroup Global Markets Inc., Goldman Sachs & Co., HSBC; Rule 144A and Regulation S with registration rights; non-callable for four years; to repay bank debt and for general corporate purposes; diversified chemical company; price talk 12¼% area, including about 3 points of OID; timing day to day.

On the Horizon

A.M. CASTLE & CO.: $275 million senior notes and $100 million four-year senior secured asset-based revolver via Jefferies & Co.; to fund its acquisition of Tube Supply Inc., expected to be completed by the end of the first quarter of 2012, and to refinance existing debt; A. M. Castle is an Oak Brook, Ill.-based distributor of specialty metal and plastic products, value-added services and supply chain solutions.

DIAMOND FOODS INC.: $300 million notes; also $1.75 billion credit facility; Bank of America Merrill Lynch; to help fund merger with Pringles Co., expected to close by the end of 2011; Diamond Foods is a San Francisco-based packaged food company. Pringles is a potato crisp brand.

DNO INTERNATIONAL ASA: $200 million to $300 million senior secured bonds due 2016; Pareto Securities AS, ABG Sundal Collier ASA and Fearnley Fonds ASA; for general corporate purposes; Oslo oil and gas exploration and production company.

M&G FINANCE CORP.: $500 million senior notes due 2018 (expected ratings B3//BB); J.P. Morgan Securities LLC (books); Rule 144A and Regulation S for life; non-callable for four years; to fund capital expenditures, to repay debt, to provide liquidity and for working capital; Houston-based Mossi & Ghisolfi (M&G) produces polyethylene terephthalate (PET) resin for packaging applications.

NAL OIL & GAS: C$150 million to C$250 million notes; RBC Capital Markets, BMO Nesbitt Burns; Calgary, Alta., trust acquires interests in Canada's upstream conventional oil and gas industry.

NEWLEAD HOLDINGS LTD.: $120 million senior secured bonds due 2016; Rule 144A and Regulation S; to finance vessel purchase commitments, to refinance the debt of certain vessels and for general corporate purposes; Piraeus, Greece-based vertically integrated mixed fleet shipping company.

SPIE: Expected €300 million to €400 million notes; Morgan Stanley, HSBC, SG CIB, Credit Agricole CIB, Deutsche Bank; proceeds along with approximately €1 billion of bank debt to help fund the LBO of the company by Clayton Dubilier & Rice, Axa Private Equity and Caisse de Depot et Placement du Quebec from PAI Partners from PAI Partners; France-based mechanical engineering firm; LBO closed on Aug. 30; bridge loan funded as leads await opportunity to sell the bonds.

WII COMPONENTS, INC.: New subordinated notes and new credit facility; to fund a tender offer and consent solicitation for its $105.85 million of 10% senior notes due 2012, consent deadline July 7, 2011; St. Cloud, Minn., cabinet manufacturer.

ROADSHOWS

Dec. 6-12: EXPERT GLOBAL SOLUTIONS, INC., formerly known as NCO GROUP, INC. $300 million; Deutsche Bank Securities Inc., Barclays Capital Inc., J.P. Morgan Securities LLC and RBS Securities Inc.

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