High Yield Calendar: $1.575 billion deals being marketed

November 6 Week

CANYON RESOURCE HOLDINGS, LLC and CANYON FINANCE CORP (CANYON CONSOLIDATED RESOURCES, LLC): $375 million five-year senior secured first-lien notes; Jefferies; Rule 144A for life and Regulation S; non-callable for two years, mandatory redemption at 102 using 75% of excess cash; proceeds, plus proceeds from concurrent $135 million 5.5-year senior secured second-lien term loan to finance the partnership through the refinancing of existing credit facilities and fund the acquisition of Bowie Resource Partners, which is being renamed Canyon Resource Partners LLC; company is being formed via the combination of the Western bituminous coal assets and capabilities of existing coal companies Murray Energy Corp. in St, Clairsville, Ohio and Bowie Resource Partners LLC in Louisville, Ky; pricing early Nov. 6 week after conclusion of roadshow from Oct. 31 to Nov. 6.

EAGLE BULK SHIPPING INC.: Bond issue in Norwegian market; Regulation S; Marshall Islands corporation based in New York that owns dry bulk vessels and transports bulk cargoes; investor meetings began Nov. 6.

NAVIOS MARITIME HOLDINGS INC./NAVIOS MARITIME FINANCE II (US) INC.: $300 million senior secured notes due 2022; Morgan Stanley & Co., J.P. Morgan Securities LLC, Bank of America Merrill Lynch (joint books), Goldman Sachs (co-manager); Rule 144A, Regulation S for life; 4.75-year tenor, with a springing maturity of Oct. 5, 2021 if at least $130 million or more of the company’s existing 7 3/8 % first priority ship mortgage notes due Jan. 15, 2022 remain outstanding on Sept. 5, 2021; callable upon issue at par plus 50% of the coupon; proceeds to refinance its existing 8 1/8% senior notes due 2019 and to pay related fees and expenses; Monte Carlo, Monaco-based shipping company specializing in the transportation of dry bulk commodities such as iron ore, coal and grain; roadshow Tuesday and Wednesday.

TITAN INTERNATIONAL, INC.: $400 million senior secured notes due 2023; Goldman Sachs & Co.; Rule 144A, Regulation S; proceeds to finance the repurchase of its $400 million 6 7/8% senior secured notes due 2020 via a tender offer; Quincy, Ill. manufacturer of off-highway wheels, tires and undercarriage assemblies for original equipment manufacturer and aftermarket customers in the agricultural and earthmoving/construction equipment markets and the consumer market; roadshow Nov. 6 to Nov. 9, pricing expect subsequently.

On The Horizon

AMERICAN MIDSTREAM PARTNERS, LP: Bonds; to refinance about $654 million of debt issued by Southcross Holdings and Southcross Energy Partners, LP in connection with its planned purchase of the company; Houston-based owner, operator, developer and acquirer of natural gas midstream energy assets.

COOPERATIVE MURATORI & CEMENTISTI – CMC DI RAVENNA: Up to €325 million senior notes due 2023; Rule 144A, Regulation S; to refinance the issuer’s existing €300 million 7˝% senior notes due 2021 on Dec. 3; Ravenna, Italy, construction company.

GODADDY INC.: $530 million bridge financing and $1,377,000,000 incremental term loan; to help fund the acquisition of Host Europe Group from Cinven, expected in the second quarter of 2017; GoDaddy is Scottsdale, Ariz.-based provider of web hosting and domain names; Host Europe is an England-based hosting provider and domain registrar.

ITRON INC.: $350 million notes backed by bridge loan initially priced at Libor plus 500 bps with 1% Libor floor, and $400 million term loan via Wells Fargo as lead arranger and bookrunner; to fund its acquisition of San Jose, Calif.-based internet connectivity platforms and services company Silver Spring Networks Inc.; Liberty Lake, Wash.-based technology and services company; disclosed in 8-K document filed on Sept. 18 with Securities and Exchange Commission.

KRATOS DEFENSE & SECURITY SOLUTIONS, INC.: $300 million senior secured notes due 2025; Rule 144A, Regulation S; to retire existing 7% senior secured notes due 2019; San Diego-based defense contractor specializing in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, training and combat systems.

MICHAEL BAKER INTERNATIONAL, LLC: Secured notes offering; proceeds along with funds from bank financing to refinance existing debt and to fund a distribution to shareholders of its SC3 subsidiary in connection with previously announced sale of SC3; Pittsburgh-based provider of engineering, development, intelligence and technology solutions.

MMI INTERNATIONAL LTD.: $300 million senior secured notes due 2021 (expected ratings B2/B+); Goldman Sachs & Co. (left books), ANZ, KKR, Standard Chartered (joint books); Rule 144A and Regulation S; pay down term loan A; Singapore-based technology company with a focus on key components for the hard disk drive industry; international roadshow ran in late October into early November; initial guidance 9% area.

NAVIERA ARMAS, SA: €300 million floating-rate senior secured notes due 2024; to fund acquisition of Trasmediterranea, SA and to refinance part of existing debt of Trasmediterranea; subsidiary of Bahia de las Isletas, SL, a Canaria, Spain ferry operator for passenger and freight transportation services in the Canary Islands.

SINCLAIR BROADCAST GROUP INC.: Commitment for $5.6 billion in debt financing, including a $785 million bridge loan, to help fund acquisition of Tribune Media Co.; expected 50:50 mix of fixed- and floating-rate debt; JPMorgan Chase Bank, RBC and Deutsche Bank Securities Inc. leads; Hunt Valley, Md.-based television broadcasting company.

TELEFLEX INC.: Possible senior notes could come as an opportunistic deal to repay bank debt; also $750 million term loan to fund the acquisition of Vascular Solutions Inc., expected to close in the first half of 2017 (company has received a commitment from JPMorgan Chase Bank for a new $750 million senior unsecured bridge facility in connection with the planned acquisition); Teleflex is a Wayne, Pa.-based provider of medical technologies; Vascular Solutions is a Minneapolis-based medical device company; disclosed during Dec. 2 conference call.

VANTIV LLC: $1.13 billion senior notes backed by one-year bridge at Libor plus 425 bps, 1% Libor floor, and $3.08 billion incremental bank debt; Morgan Stanley, Credit Suisse and MUFG are the lenders under the incremental loans and joint lead arrangers and joint bookrunners on the bridge loan; to help fund Vantiv’s merger with Worldpay Group plc, to refinance existing Worldpay debt and for general corporate purposes; Vantiv is a Cincinnati-based merchant and PIN debit acquirer; Worldpay is a London-based payments company (combined company will be named Worldpay and have global and corporate headquarters in Cincinnati and international headquarters in London); announced in Aug. 16 8-K.

VERISURE MIDHOLDING AB: Senior notes due 2023; to redeem existing private senior notes and fund a €425 million distribution to shareholders; subsidiary Verisure Holding AB plans new borrowings under senior facilities to fund a further €625 million distribution to shareholders; subject to successful consent solicitation that ends on Nov. 9 with Goldman Sachs International as solicitation agent; Malmo, Sweden-based provider of professionally monitored alarms and connected services.

Roadshows

Oct. 31 to Nov. 6: CANYON RESOURCE HOLDINGS, LLC and CANYON FINANCE CORP (CANYON CONSOLIDATED RESOURCES, LLC): $375 million five-year senior secured first-lien notes; Jefferies

Started Nov. 6: EAGLE BULK SHIPPING INC.: bonds

Nov. 7 to Nov. 8: NAVIOS MARITIME HOLDINGS INC./NAVIOS MARITIME FINANCE II (US) INC.: $300 million senior secured notes due 2022; Morgan Stanley & Co., J.P. Morgan Securities LLC, Bank of America Merrill Lynch

Nov. 6 to Nov. 9: TITAN INTERNATIONAL, INC.: $400 million senior secured notes due 2023; Goldman Sachs & Co.

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