High Yield Calendar: $3.53 billion and €1 billion deals being marketed

March 11 Week

NANA DEVELOPMENT: $275 million six-year notes (B3/B+); Goldman Sachs & Co. (sole); Rule 144A; non-callable for three years; to refinance revolver and term loan and for general corporate purposes; Anchorage-based engineering, construction, resource development, facilities management and logistics company; price talk 9½% area; pricing expected Wednesday.

SEITEL, INC.: $250 million senior notes due 2019 (B1/B); Deutsche Bank Securities Inc., J.P. Morgan Securities LLC (joint); Rule 144A with registration rights; non-callable for three years; proceeds, together with cash on hand, to repurchase $275 million 9¾% senior notes due 2014; Houston-based provider of onshore seismic data to the oil and gas industry; roadshow through March 11 week.

WATCO COS., LLC and WATCO FINANCE CORP. $400 million senior notes due 2023; Wells Fargo Securities LLC (left books), J.P. Morgan Securities LLC, Barclays, BMO Securities, U.S. Bancorp (joint books), Fifth Third Securities (co); Rule 144A and Regulation S for life; non-callable for five years; proceeds, along with the initial loans under the new senior secured credit facility, to repay the entire outstanding balance of the existing senior secured credit facility; Pittsburg, Kan.-based railroad operator and rail car maintenance and repair services provider; pricing March 11 week.

MCGRAW-HILL GLOBAL EDUCATION HOLDINGS, LLC: $1.05 billion eight-year first-lien senior secured notes (B2); Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, BMO Securities, Jefferies & Co., Nomura, UBS Investment Bank (joint); Rule 144A with registration rights; callable in three years at par plus 75% of the coupon (special call allows the issuer to redeem 10% of the notes annually at 103 during the non-call period); three-year 35% equity clawback; 101% poison put; to fund the LBO by Apollo Management; New York-based digital learning company; roadshow started March 11; pricing late March 11 week.

MDC PARTNERS INC.: $500 million seven-year senior notes (existing ratings B3/B); J.P. Morgan Securities LLC, Goldman Sachs & Co. (joint), Wells Fargo Securities LLC, BMO Securities, Deutsche Bank Securities Inc. (co's); Rule 144A and Regulation S for life; callable in three years at par plus 50% of the coupon; to redeem the 11% notes due 2015; Toronto-based provider of marketing communications services; roadshow started March 11; pricing expected March 15.

CERIDIAN CORP.: $400 million senior notes due 2021 (Caa3); Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, BofA Merrill Lynch; non-callable for three years; to refinance debt; Minneapolis-based provider of human resources, transportation and retail information management services; roadshow started March 11; pricing expected March 15.

SUN PRODUCTS CORP.: $500 million senior notes due 2021; Barclays, J.P. Morgan Securities LLC, BofA Merrill Lynch, Goldman Sachs & Co., Morgan Stanley & Co. LLC (joint); Rule 144A for life; callable in three years at par plus 75% of the coupon; to refinance debt; Wilton, Conn.-based manufacturer of branded and retailer brand fabric care and dish care products; roadshow March 11-15, pricing thereafter.

AMERICAN APPAREL, INC.: $200 million senior secured notes; Cowen & Co., Seaport Group; Rule 144A and Regulation S; to repay debt and for general corporate purposes; vertically integrated clothing manufacturer based in Los Angeles; roadshow starts March 12.

CEGEDIM SA: €300 million senior notes due 2020 (/B/); BNP Paribas, BofA Merrill Lynch (joint); Rule 144A and Regulation S for life; callable in three years at par plus 75% of the coupon; to fund the tender offer for 7% notes; Paris-based technology and services company specializing in health care; roadshow starts during March 11 week.

MOBILE CHALLENGER INTERMEDIATE GROUP SA (parent of SUNRISE COMMUNICATIONS HOLDINGS SA): €500 million equivalent senior PIK toggle notes due 2019 (/B-/B-), in dollar-, euro- and Swiss franc-denominated tranches, sizes to be determined; Deutsche Bank (global coordinator, bill and deliver), Goldman Sachs (global coordinator), UBS, BNP Paribas, Credit Suisse, Morgan Stanley (joint books); Rule 144A and Regulation S; non-callable for 18 months; to refinance preferred equity certificates; Zurich-based integrated telecommunications services provider; European roadshow started March 11. U.S. roadshow March 13-14.

BELDEN INC. €200 million senior subordinated notes due 2023; Deutsche Bank (bill and deliver), Goldman Sachs, J.P. Morgan, Wells Fargo (joint), Stephens (co); Rule 144A and Regulation S; non-callable for five years; to repay revolver and for general corporate purposes; St. Louis-based provider of signal transmission solutions for mission critical applications; roadshow started March 11.

On The Horizon

AMERICAN AIRLINES, INC.: $663,378,000 enhanced equipment trust certificates; $506.7 million class B due July 15, 2025 (/BBB-/BBB+); $156.6 million class B due Jan. 15, 2021 (/B+/B); Rule 144A, Regulation S; secured by eight Boeing aircraft; Fort Worth, Texas-based commercial airline.

CKE RESTAURANTS INC.: High-yield notes; to help fund tender offer for up to $412,122,000 of CKE's outstanding 11 3/8% senior secured second-lien notes due 2018; Barclays is dealer manager for tender; early consent date for tender is March 14; Carpinteria, Calif., restaurant operator and franchisor.

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.

DELL INC. $3.25 billion secured notes: $2 billion first-lien notes and $1.25 billion second-lien notes; also $7.5 billion credit facility; BofA Merrill Lynch, Barclays, Credit Suisse Securities (USA) LLC, RBC Capital Markets; to help fund the acquisition of the company by Michael Dell and Silver Lake, expected to close at the end of the second quarter of 2013; Round Rock, Texas-based provider of technology and business products and services.

FTS INTERNATIONAL, INC.: $400 million secured notes to repay term loan; company is soliciting consents from holders of its 7 1/8% notes due 2018 to amendments to the indenture governing the notes, BofA Merrill Lynch and Citigroup Global Markets Inc. are the solicitation agents; provider of well completion services for the oil and gas industry with corporate offices in Fort Worth and Cisco, Texas.

GARDNER DENVER INC.: New senior notes backed by a bridge loan; Deutsche Bank Securities Inc., UBS Securities LLC, Barclays, Citigroup Global Markets Inc., RBC Capital Markets, Mizuho Corporate Bank Ltd., KKR Capital Markets; to help fund its purchase by Kohlberg Kravis Roberts & Co. LP, expected to close in the third quarter of 2013; Wayne, Pa.-based manufacturer of industrial compressors, blowers, pumps, loading arms and fuel systems.

GETCO HOLDING CO. LLC: $550 million second-lien notes and $470 million credit facility being led by Jefferies Finance LLC; to fund the merger with Knight Capital Group Inc., expected to close during the second quarter of 2013; Getco is a Chicago-based buyer and seller of securities.

GLOBALIVE WIRELESS MANAGEMENT CORP.: Up to $1 billion equivalent in U.S. dollar- and Canadian dollar-denominated notes; Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, BMO Capital Markets Corp.; Rule 144A; to fund expansion of its wireless network and for general corporate purposes; Toronto-based wireless communications services provider.

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.

H.J. HEINZ CO.: Expected $2.1 billion second-lien notes backed by bridge loan; JPMorgan and Wells Fargo; also $12 billion senior secured credit facility; to help fund the acquisition of the company by Berkshire Hathaway and 3G Capital, expected to close in the third quarter of 2013; Pittsburgh-based food product company.

M&G FINANCE CORP.: $200 million to $300 million senior secured notes due 2019 (expected B3//BB), downsized from $500 million; J.P. Morgan Securities LLC (sole); Rule 144A and Regulation S for life; non-callable (call protection increased from four years); to finance construction of new PET and PTA production facilities, pay back intercompany debt and fund working capital; Houston-based Mossi & Ghisolfi (M&G) produces polyethylene terephthalate (PET) resin for packaging applications.

MCGRAW-HILL EDUCATION: $550 million notes and $1.325 billion credit facilities; Credit Suisse Securities (USA) LLC, Morgan Stanley, Jefferies & Co., UBS Investment Bank, Nomura and BMO Capital Markets Corp. are leading the financing; to help fund the acquisition of McGraw-Hill Education by Apollo Global Management LLC from McGraw-Hill Cos.; McGraw-Hill Education is a New York-based digital learning company.

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.

NIELSEN HOLDINGS NV: $1.3 billion bridge, most or all to be taken out with high-yield bonds, to fund its acquisition of Arbitron Inc.; J.P. Morgan Securities LLC; Nielsen is a New York and Netherlands-based provider of information and insights into what consumers watch and buy; Arbitron is a Columbia, Md.-based media and marketing research firm.

NORTH WEST ELECTRICITY NETWORKS LTD. (NWEN): £180 million senior secured notes (/BB+/); Barclays, HSBC; to refinance debt; Warrington, England-based electricity distribution network operator.

PETAQUILLA MINERALS LTD.: Possible second-lien notes, size to be determined, as part of an approximately $210 million debt financing that will include between $90 million and $140 million of first-lien bank debt; Global Hunter Securities; to refinance debt and to finance capital expenditures related to the Lomero-Poyatos mine in Spain; Vancouver, B.C.-based copper exploration company; the financing was previously in the market as a single $210 million tranche of five-year senior secured notes, announced in July 2012; possible 2013 business.

PINNACLE ENTERTAINMENT INC.: $315 million senior notes and $2.73 billion credit facility in a financing led by J.P. Morgan Securities LLC and Goldman Sachs Lending Partners LLC; to fund the acquisition of Ameristar Casinos Inc., expected to close in the third quarter of 2013; Pinnacle is a Las Vegas-based casino gaming company.

PVH CORP.: $4.33 billion new debt comprised of senior notes and a credit facility; Barclays, BofA Merrill Lynch, Citigroup Global Markets Inc.; notes are backed by a bridge loan commitment; to fund the cash portion of the acquisition of Warnaco Group Inc., expected to close early in 2013, and refinance debt at both companies and provide liquidity going forward; PVH is a Bridgewater, N.J.-based apparel company.

SILVERLEAF RESORTS, INC.: $175 million senior secured notes due 2019; Deutsche Bank Securities Inc.; non-callable for three years; to pre-fund development of vacation ownership inventory, to refinance a portion of the company's existing debt, to pay a dividend to the sponsor; Dallas-based resort operator.

TDF GROUP (TELEFFUSION DE FRANCE): Euro-denominated high-yield bonds; BNP Paribas expected to be involved; to refinance debt; Paris-based multiple-platform telecommunications company.

Roadshows

Through March 11 week: SEITEL $250 million; Deutsche Bank, JPMorgan.

Started March 11: MCGRAW-HILL GLOBAL EDUCATION $1.05 billion; Credit Suisse, Morgan Stanley, BMO, Jefferies, Nomura, UBS.

Started March 11: MDC PARTNERS $500 million; JPMorgan, Goldman Sachs.

Started March 11: SUNRISE COMMUNICATIONS €500 million; Deutsche Bank, Goldman Sachs, UBS, BNP, Credit Suisse, Morgan Stanley.

Started March 11: BELDEN €200 million; Deutsche Bank, Goldman Sachs, JPMorgan, Wells Fargo.

Started March 11: CERIDIAN $400 million; Deutsche Bank, Credit Suisse, BofA Merrill Lynch.

Pricing March 11 week: WATCO $400 million; Wells Fargo, JPMorgan, Barclays, BMO, US Bancorp.

March 11-15: SUN PRODUCTS $500 million; Barclays, JPMorgan, BofA Merrill Lynch, Goldman Sachs, Morgan Stanley.

Starts March 11 week: CEGEDIM €300 million; BNP, BofA Merrill Lynch.

Starts March 12: AMERICAN APPAREL $200 million; Cowen, Seaport.

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