High Yield Calendar

Total amount of dollar-denominated high-yield bond offerings being marketed: $1.74 billion

WEEK OF OCT. 6

IFCO SYSTEMS NV: €110 million eurobond due 2010 (B-); Deutsche Bank Securities; Rule 144A; to refinance existing debt; Amsterdam-based company; Netherlands-based provider of reusable plastic containers; price talk 10¼%-10½%; pricing Monday.

PHIBRO ANIMAL HEALTH CORP: $105 million senior secured notes units due 2007 (B2/B-): PHILBRO ANIMAL HEALTH CORP.: $85 million; PHILLIPPS BROTHERS NETHERLANDS III BV: $20 million; Jefferies & Co.; Rule 144A; non-callable for two years; to redeem part of existing senior subordinated notes, repay bank debt and a seller note owed to Pfizer; Fort Lee, N.J. manufacturer/marketer of animal health products (formerly Philipp Brothers Chemicals, Inc.); roadshow started Sept. 26; expected to price late in Oct. 6 week.

UNIVERSAL HOSPITAL SERVICES: $250 million senior notes due 2011 (B3/B-); Goldman Sachs, Credit Suisse First Boston (joint), CIBC World Markets, Jefferies & Co. (co's); Rule 144A; non-callable for four years; to fund tender for $135 million 10¼% senior notes due 2008; Bloomington, Minn.-based provider of medical equipment outsourcing and services to the health care industry; roadshow started Sept. 29 week; expected to price Oct. 6 week.

NORCRAFT COMPANIES: $150 million senior subordinated notes due 2011 (B3/B-); UBS Investment Bank (books), Wachovia Securities; Rule 144A; non-callable for four years; to finance LBO by Saunders Karp & Megrue and Trimaran; Eagan, Minn. manufacturer of kitchen and bathroom cabinetry; roadshow started Oct. 2.

WEEK OF OCT. 13

NATIONSRENT COS. INC.: $225 million senior secured notes due 2010 (B2/BB-); Jefferies & Co., Wachovia Securities (joint); Rule 144A; non-callable for four years; to repay bank debt; Fort Lauderdale, Fla.-based provider of rental equipment; roadshow starts Oct. 6; pricing week of Oct. 13.

PARAMOUNT RESOURCES LTD.: $150 million senior notes due 2010 (B2/B); UBS Investment Bank (books), Harris Nesbitt, CIBC World Markets, Scotia Capital (co's); registered; non-callable for four years; equity clawback of 35% for three years; to repay debt under senior secured credit facility and general corporate purposes; roadshow starts Oct. 7; pricing Oct. 16 or 17; Calgary, Alberta natural gas company.

http://www.sec.gov/Archives/edgar/data/1262767/000104746903032207/a2118546zf-10.txt

OCTOBER BUSINESS

VON HOFFMAN CORP.: $60 million add-on to 10¼% senior notes due March 15, 2009; Credit Suisse First Boston; Rule 144A; callable on March 15, 2005 at 107.688, 105.125, 102.563, par on March 15, 2008 and thereafter, equity clawback until March 15, 2005 for 35% at 110.25; to help fund acquisition of Lehigh; St. Louis-based manufacturer of printed products for the educational and commercial markets.

ON THE HORIZON

BEVERLY ENTERPRISES, INC.: $100 million subordinated notes (/B/B+); primarily to pay debt, including but not limited to $180 million senior notes due 2006; Fort Smith, Ark. healthcare services provider to elderly.

DRS TECHNOLOGIES: $350 million bonds and bank financing (B2/B); Bear Stearns, Wachovia Securities; to help fund acquisition of Integrated Defense Technologies; defense electronics supplier based in Parsippany, N.J.; anticipated interest rate 7½%-8% on bonds.

JENOPTIK AG (company ratings -/BB-/BB): €100 million long-term debt; to strengthen capital base, reduce short-term debt and finance growth; Jena, Germany technology company.

QUALITY DISTRIBUTION, LLC: $125 million unsecured notes; part of financing that also includes $115 million IPO of common stock via Credit Suisse First Boston, Bear Stearns, Deutsche Bank Securities and $215 million credit facility; to repay existing credit facility, redeem 12½% senior subordinated secured notes, 10% senior subordinated notes and 12% junior PIK notes; Tampa, Fla. transportation company.

STATION CASINOS, INC.: Senior subordinated notes to fund tender for $199 million 8 7/8% senior subordinated notes due 2008, Banc of America Securities and Deutsche Bank Securities, dealer managers; consent deadline Sept. 17.

RESOURCE AMERICA, INC.: $30 million of 12% senior notes due 2008; Bear Stearns and Friedman Billings Ramsey (joint); registered; callable on Aug. 1, 2006 at 106; concurrently company will offer up to $65.336 million of new notes in exchange for all outstanding 12% senior notes due 2004; Philadelphia-based oil and natural gas company.

http://www.sec.gov/Archives/edgar/data/83402/000095011603002731/s-3a.txt

LOEWS CINEPLEX THEATRES: senior subordinated notes; Rule 144A; coming with senior credit facility and IPO; IPO via Goldman Sachs, Citigroup, Credit Suisse First Boston and Merrill Lynch; to repay debt and for general corporate purposes; motion picture exhibitor headquartered in New York City.

SEAT PAGINE GIALLE: €1.2 billion bonds; to help fund €6 billion LBO by BC Partners, CVC, Investitori Associati and Permira

PINNACLE FOODS CORP.: high yield bonds; Deutsche Bank Securities, JP Morgan; also senior secured credit facility; to fund $485 million acquisition by JPMorgan Partners and C. Dean Metropoulos, from Hicks, Muse, Tate & Furst Inc.; expected to launch after Labor Day

MB TECH, INC.: high-yield non-convertible bond; to acquire the U.S. and German operating subsidiaries of Willtek, Inc. (Korea); Los Angeles-based manufacturer and distributor of satellite components.

EMERGING MARKETS CORPORATE OFFERINGS

VITRO SA de CV: $250 million senior unsecured notes due 2013 (B2/B-); Citigroup, Credit Suisse First Boston (joint); Rule 144A; non-callable for five years; to redeem notes and repay other debt; Europe roadshow started late in Sept. 29 week, in U.S. during Oct. 6 week.

BAVARIA SA: $400 million senior unsecured notes due 2010 (Ba3/BB/BB); Citigroup (books), ABN Amro; Rule 144A; non-callable for four years; to refinance acquisition debt; Columbian brewer; to be marketed in U.S. and Europe.

KOREA EXCHANGE BANK CREDIT SERVICE CO. LTD. $100-$150 million of subordinated fixed-rate notes due 2013 (B3/CCC+) with warrants; Credit Suisse First Boston; non-callable for five years; Rule 144A/Regulation S; pricing expected Oct. 6 week.

EMERGING MARKETS OFFERINGS ON THE HORIZON

MMK FINANCE SA: Up to $300 million, maturity up to five years (Ba3/B/BB-); UBS Investment Bank, ABN Amro; Regulation S only; guaranteed by OJSC Magnitogorsk Iron & Steel Works; Europe-only roadshow started Oct. 1.

SATELLITES MEXICANOS SA DE CV: $80 million floating-rate notes.

MTS (Mobile TeleSystems): $500 million notes with seven to 10 year maturity (Ba3/B+); ING, Credit Suisse First Boston.

ROADSHOWS

Started Sept. 26: PHIBRO ANIMAL HEALTH CORP $105 million; Jefferies & Co.; Rule 144A; 4NC2

Started Sept. 29 week: UNIVERSAL HOSPITAL SERVICES $250 million; Goldman Sachs, Credit Suisse First Boston; Rule 144A; 8NC4

Start Europe late Sept. 29 week: VITRO SA de CV $250 million; Citigroup, Credit Suisse First Boston; Rule 144A; 10NC5

Started Oct. 2: NORCRAFT COMPANIES $150 million; UBS Investment Bank; Rule 144A; 8NC4

Starts Oct. 6: NATIONSRENT COS. INC. $225 million; Jefferies & Co., Wachovia Securities; Rule 144A; 7NC4

Starts Oct. 7: PARAMOUNT INC. $150 million; UBS Investment Bank; Rule 144A; 7NC4

RECENT SHELF FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION:

CV THERAPEUTICS, INC.: $300 million shelf filed Oct. 3 for debt securities, preferred stock, common stock, equity warrants and debt warrants; securities may be issued as convertibles; includes $47.5 million previously registered but unsold; Palo Alto, Calif. biopharmaceutical company will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/921506/000119312503057443/ds3.htm

MATRIA HEALTHCARE, INC.: $150 million shelf filed Oct. 3 for common stock, preferred stock, debt securities, depositary shares, warrants and units; securities may be issued as convertibles; Marietta, Ga. disease management company will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/1007228/000095014403011292/g85160sv3.txt

SOLA INTERNATIONAL INC.: $400 million shelf filed Oct. 2 for debt securities, common stock, preferred stock, depositary shares, securities warrants, stock purchase contracts and stock purchase units; securities may be issued as convertibles; San Diego plastic and glass eyelens company will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/912088/000119312503056905/ds3.htm

SPX CORP.: $1 billion shelf filed Sept. 30 for debt securities, common stock, preferred stock and depositary shares; securities may be issued as convertibles; includes $200 million previously registered but unsold; Charlotte, N.C. diversified company will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/88205/000119312503056217/ds3.htm

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.