High Yield Calendar: $3.46 billion, €400 million and £456 million being marketed

APRIL 4 WEEK

PRIORY GROUP LTD.: £206 million add-on to 7% senior secured notes due Feb. 15, 2018; Deutsche Bank; Make-whole call at Gilts plus 50 bps until Feb. 15, 2014, then callable at a premium; to refinance debt related to the acquisition of Craegmoor Healthcare; price talk 101; pricing Tuesday; original £425 million issue priced at par on Jan. 27, 2011, part of a £600 million equivalent two-part deal which also featured £175 million 8 7/8% senior unsecured notes due Feb. 15, 2019.

OPPENHEIMER HOLDINGS INC.: $200 million senior secured notes due 2018 (B2); Morgan Stanley & Co. Inc. (books), Oppenheimer & Co. (joint lead); Rule 144A with registration rights; non-callable for three years; to refinance $22.5 million of debt outstanding as of Dec. 31, 2010 under the variable-rate secured credit note due July 31, 2013 and under the $100 million variable-rate subordinated note due Jan. 31, 2014; New York City-based financial institution; pricing expected early April 4 week.

NAVIOS SOUTH AMERICAN LOGISTICS INC. and NAVIOS LOGISTICS FINANCE (US) INC.: $185 million senior notes due 2019 (single B ratings expected); Merrill Lynch, J.P. Morgan Securities LLC (joint), Citigroup (senior co), Credit Suisse, Goldman Advisors (co's); Rule 144A with registration rights; callable in three years at par plus 75% of coupon; 101% poison put; to repay debt, to purchase barges and pushboats and for general corporate purposes; Piraeus, Greece-based barge and upriver port logistics business with operations in South America; joint high-yield and emerging markets roadshow starts March 31; pricing expected April 5 or April 6.

MATALAN PLC: £250 million senior secured notes due 2016 (expected ratings Ba2/BB); Goldman Sachs International (books), Lloyds Bank Corporate Markets (joint lead), Royal Bank of Scotland (co); Rule 144A and Regulation S; non-callable for two years; to repay bank debt; Skelmersdale, England-based clothing and housewares retailer; European roadshow April 1-5.

SAPPI PAPIER HOLDING GMBH: $680 million-equivalent senior secured notes (expected Ba2/confirmed BB/), euro-denominated notes due 2018, non-callable for four years, and 1dollar-denominated notes due 2010, non-callable for five years; Citigroup, Credit Agricole, J.P. Morgan Securities LLC, KBC, Royal Bank of Scotland, UniCredit; to redeem 6¾% notes due 2012 and to repay €200 million bank debt;

European subsidiary of a Johannesburg-based producer of coated fine paper; roadshow April 4-5, pricing thereafter.

MIRABELA NICKEL LTD.: $375 million senior notes due 2018 (expected ratings B2/B-); J.P. Morgan Securities LLC, Barclays Capital; Rule 144A and Regulation S for life; non-callable for four years; to pay down its debt facilities, as well as to make prepayments in connection with the termination of certain commodity call options, interest rate hedging and foreign exchange hedging, to provide general working capital and for general corporate purposes; Perth, Australia-based Nickel producer; roadshow March 30-April 6.

SHERIDAN GROUP: $150 million senior secured notes due 2014 (B3); Jefferies & Co. (sole); Rule 144A with registration rights; non-callable for one year; to repay existing 10¼% senior secured notes; Hunt Valley, Md.-based print and publishing company; roadshow March 30-April 7.

SIZZLING PLATTER, LLC: $150 million first lien senior secured notes (/B-/); Global Hunter Securities, Maxim Group, Knight Capital Markets; non-callable for two years; to refinance debt and for general corporate purposes; Murray, Utah-based restaurant management company; pricing April 7 or 8.

PRODUCTION RESOURCES GROUP INC.: $400 million senior notes due 2019; Merrill Lynch, Goldman Sachs & Co., Barclays Capital, Inc., Deutsche Bank Securities Inc., Wells Fargo Securities LLC; Rule 144A for life; callable in three years at par plus 75% of coupon; 101% poison put; to repay existing credit facilities, fund acquisitions and for general corporate purposes; Armonk, N.Y.-based provider of equipment and services to the live event industry; pricing late in April 4 week.

KION FINANCE SA (KION GROUP GMBH): €400 million senior secured notes due 2018 in fixed rate and floating rate tranches; Deutsche Bank (bill and deliver), Goldman Sachs International, BNP Paribas, Commerzbank, KKR Capital Markets, UniCredit (joint books); Rule 144A and Regulation S for life; non-callable for three years; fixed-rate notes non-callable for three years, floating-rate notes non-callable for one year; to refinance debt; Wiesbaden, Germany-based supplier of industrial trucks; roadshow Monday in Germany, Tuesday and Wednesday in London, Thursday in Paris.

PITTSBURGH GLASS WORKS LLC: $300 million senior secured notes due 2016; Credit Suisse Securities, Merrill Lynch, UBS Investment Bank; Rule 144A and Regulation S for life; non-callable for two years (special call provision allows issue to redeem up to 10% of notes annually at 103 during the non-call period); two-year 35% equity clawback; 101% poison put; to refinance debt, pay a dividend to shareholders and for general corporate purposes; Pittsburgh-based supplier of automotive OEM glass; roadshow April 4 week.

AEP INDUSTRIES INC.: $200 million senior notes due 2019; Merrill Lynch (sole), Wells Fargo Securities (co); Rule 144A with registration rights; callable in three years at par plus 75% of coupon; 101% poison put; to fund tender for 7 7/8% notes due 2013 and repay all amounts outstanding under the credit facility; South Hackensack, N.J., plastic packaging manufacturer; roadshow April 4 week; pricing late in April 4 week.

MASONITE INTERNATIONAL CORP.: $250 million senior notes due 2021 (B3/B+/); Merrill Lynch, Wells Fargo Securities, Deutsche Bank Securities Inc., RBC Capital Markets (joint); Rule 144A for life; callable in four years at par plus 75% of coupon; 101% poison put; for general corporate purposes, which may include funding future acquisitions and return of capital to shareholders; Mississauga, Ont.-based manufacturer of residential and commercial doors; pricing late April 4.

TRIDENT RESOURCES CORP.: C$175 million of seven-year notes (/B-/); CIBC World Markets Inc.; proceeds to pay down outstanding debt; Calgary,Alta.-based natural gas exploration company with operations in Alberta and British Columbia.

FUFENG GROUP LTD.: Dollar-denominated notes due 2016 (expected ratings: /BB/BB); Citigroup, Deutsche Bank; non-callable for three years; Rule 144A/Regulation S; to fund capacity expansion and for general working capital purposes; monosodium glutamate and xantham gum producer based in Hong Kong; roadshow started March 29.

NORWEGIAN ENERGY CO. ASA (NORECO): NOK 550 million to 600 million senior secured bonds due 2016; First Securities, Pareto Securities (joint managers), SEB Merchant Banking (co-manager) for financing of Noreco's share of the costs associated with the Oselvar development and other petroleum activities on the Norwegian continental shelf; Stavanger, Norway-based energy company.

APRIL 11 WEEK

IGATE CORP.: $770 million senior notes due 2016 (expected ratings B1/B+); Jefferies & Co., RBC Capital Markets; Rule 144A with registration rights; non-callable for three years; to help fund the acquisition of 83.6% of the outstanding shares of Patni Computer Systems Ltd., a Mumbai, India-based information technology services company; iGate is a Freemont, Calif.-based integrated technology and operations services provider; roadshow April 4-14.

EXPECTED EARLY APRIL BUSINESS

AMERICAN ROCK SALT: $200 million second-lien notes; also $250 million covenant-light term loan via RBS Securities Inc., bank meeting held on April 4; to repay debt at the holding company and fund a dividend; Retsof, N.Y.-based producer of highway deicing rock salt.

BUILDERS FIRSTSOURCE, INC.: $250 million senior secured first priority notes due 2019; Rule 144A and Regulation S; to redeem the second priority senior secured floating-rate notes due 2016, as well as outstanding floating rate notes due 2012, to repay revolver, for working capital and general corporate purposes; Dallas-based building products company.

DRYSHIPS INC.: approximately $500 million of senior bonds due 2016; Rule 144A and Regulation Regulation S; to finance Ocean Rig's drillships program and general corporate purposes; Athens, Greece-based provider of marine transportation services for drybulk and petroleum cargoes and off-shore contract drilling oil services.

EMERGENCY MEDICAL SERVICES CORP.: $950 million senior notes; also $1.725 billion credit facility; debt financing to be led by Barclays Capital Inc., Deutsche Bank Securities Inc., Merrill Lynch, Morgan Stanley & Co. Inc., RBC Capital Markets, UBS Investment Bank; proceeds, along with equity, to fund buyout of the company by Clayton, Dubilier & Rice LLC; Greenwood Village, Colo.-based provider of health care transportation services and outsourced physician services to health care facilities; expected to launch in April 2011.

RURAL/METRO CORP.: New high-yield bonds and credit facility; Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and Jefferies & Co. are leading the financing; to help fund the acquisition of the company by Warburg Pincus; Scottsdale, Ariz.-based provider of emergency and non-emergency ambulance services and private fire protection services; expected during first half of April.

TEXAS COMPETITIVE ELECTRICAL HOLDINGS CO. LLC: New senior secured notes as a condition of completing a an amendment to extend bank debt; amendment to extend, via Citigroup Global Markets Inc., launched April 1; proceeds from new notes to fund pro rata repayments of certain outstanding loans; Texas Competitive, formerly TXU Energy, is a Dallas-based energy company.

ON THE HORIZON

ALPHA NATURAL RESOURCES INC.: Up to $1.7 billion senior notes, also $1.6 billion credit facility; Citigroup and Morgan Stanley are leading the credit facility and the bridge financing; proceeds, along with cash on hand, to fund the acquisition of Massey Energy Co., expected to close mid-2011, refinance $1.4 billion of Massey debt and refinance existing debt at Alpha, including its term loan A; Abingdon, Va.-based Alpha Natural Resources and Richmond, Va.-based Massey are coal companies.

AMC NETWORKS INC. (RAINBOW MEDIA HOLDINGS LLC): New senior notes and senior secured credit facility to finance the spin-off from Cablevision Systems Corp., expected to be completed by mid-2011; proceeds to refinance all existing debt at Rainbow Media as well as to repay $1.25 billion of Cablevision and/or CSC Holdings LLC debt, and for general corporate purposes; Bethpage, N.Y.-based telecommunications, media and entertainment company.

AMERICAN TOWER CORP.: Expected issue of high-yield notes, as part of a refinancing of bank debt maturing in 2012; Boston-based wireless and broadcast communications infrastructure company.

CUMULUS MEDIA INC.: $500 million senior notes, also $2.5 million credit facility; J.P. Morgan Securities LLC, UBS Investment Bank and Macquarie Capital; to help fund its acquisition of Citadel Broadcasting Corp. (expected to close by the end of 2011), and refinance outstanding debt of Cumulus, Citadel and Cumulus Media Partners LLC; financing also includes $500 million of equity from Crestview Partners and Macquarie Capital; Cumulus Media is an Atlanta-based radio broadcaster.

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, Norway, oil and gas exploration and production company.

GALA CORAL GROUP, LTD.: Up to £600 million senior notes with minimum seven-year tenor; Goldman Sachs & Co. and Royal Bank of Scotland expected to be involved; to repay senior secured bank loans; Nottingham, England-based gaming and off-track betting company; expected early 2011 business.

HECKLER & KOCH GMBH: Expected €100 million notes with five-year to seven-year maturity; Close Brothers Seydler Bank; proceeds, along with liquidity from other assets, to refinance the existing €120 million 9¼% notes due July 15, 2011; Oberndorf, Germany-based small-arms maker; proceeds, along with liquidity from other assets, to refinance its existing €120 million 9¼% notes due July 15, 2011; expected to be completed by the end of the second quarter of 2011.

INTERNATIONAL WIRE GROUP, INC.: $110 million senior secured notes due 2015; to fund one-time distribution to stockholders and option holders; consent solicitation via Wells Fargo Securities, LLC expires on April 1; Camden, N.Y.-based electrical wire manufacturer.

KINDRED HEALTHCARE INC.: $550 million senior notes; part of debt financing for planned acquisition of RehabCare Group, Inc., expected to close June 30, 2011; also includes $1.3 billion credit facility; J.P. Morgan Securities LLC, Morgan Stanley, Citigroup are lead banks for financing; Kindred Healthcare is a Louisville, Ky.-based health-care services company.

KRUGER INC.: Up to C$210 million PIK toggle notes (upsized from C$200 million); GMP Securities; project finance; Montreal-based paper products manufacturer.

LODGENET INTERACTIVE CORP.: Possible debt financing that could include bonds; to repay bank debt; Sioux Falls, S.D.-based provider of interactive media and connectivity services to the hospitality industry and interactive patient education, information and entertainment systems to health-care facilities; ($435 million six-year senior secured second-lien notes, B3/B/, via Merrill Lynch, J.P. Morgan Securities LLC, put on hold Sept. 28 as company announced it is seeking alternatives).

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.

PREMIER FOODS PLC (Ba2/BB/BB): New high-yield bonds; to settle swap agreements, diversify sources of funding and reduce reliance on bank debt; St. Albans, England-based food producer; possibly launching during Feb. 21 week.

SI ORGANIZATION INC.: $175 million senior subordinated notes; J.P. Morgan Securities LLC; to help fund $815 million to help fund Veritas Capital's acquisition of Lockheed Martin Corp.'s Enterprise Integration Group; Valley Forge, Pa.-based provider of engineering, integration services, modeling, simulation, analysis and risk mitigation services to the U.S. intelligence community; possible early 2011 business.

VIKING RIVER CRUISES: Expected $200 million high-yield notes; Credit Suisse; Los Angeles-based river cruise line.

ROADSHOWS

Pricing early April 4 week: OPPENHEIMER HOLDINGS INC. $200 million; Morgan Stanley & Co.

March 30-April 6: MIRABELA NICKEL LTD. $375 million; J.P. Morgan Securities LLC, Barclays Capital.

March 30-April 7: SHERIDAN GROUP $150 million; Jefferies & Co.

Starts March 31: NAVIOS SOUTH AMERICAN LOGISTICS INC. and NAVIOS LOGISTICS FINANCE (US) INC. $185 million; Merrill Lynch, J.P. Morgan Securities LLC.

April 1-5: MATALAN PLC £250 million; Goldman Sachs International.

Pricing April 7 or 8: SIZZLING PLATTER, LLC $150 million; Global Hunter Securities, Maxim Group, Knight Capital Markets.

Pricing late April 4 week: PRODUCTION RESOURCES GROUP INC. $400 million; Merrill Lynch, Goldman Sachs & Co., Barclays Capital, Inc., Deutsche Bank Securities Inc., Wells Fargo Securities LLC.

Pricing late April 4 week: AEP INDUSTRIES INC. $200 million; Merrill Lynch.

Pricing late April 4 week: MASONITE INTERNATIONAL CORP. $250 million; Merrill Lynch, Wells Fargo Securities, Deutsche Bank Securities Inc., RBC Capital Markets.

Starts April 4: KION FINANCE SA (KION GROUP GMBH) €400 million; Deutsche Bank, Goldman Sachs International, BNP Paribas, Commerzbank, KKR Capital Markets, UniCredit.

April 4 week: PITTSBURGH GLASS WORKS LLC $300 million; Credit Suisse Securities, Merrill Lynch, UBS Investment Bank.

April 4-5: SAPPI PAPIER HOLDING GMBH $680 million-equivalent; Citigroup, Credit Agricole, J.P. Morgan Securities LLC, KBC, Royal Bank of Scotland, UniCredit.

April 4-14: IGATE CORP. $770 million; Jefferies & Co., RBC Capital Markets.

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