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Published on 2/27/2003 in the Prospect News High Yield Daily.

Total amount of scheduled dollar-denominated high-yield bond offerings is $2.24 billion

WEEK OF FEBRUARY 24

CHESAPEAKE ENERGY CORP.: $300 million senior notes due 2013 (Ba3); Salomon Smith Barney, Credit Suisse First Boston, Bear Stearns; Rule 144A; non-callable for five years; also $200 million convertible preferred stock; to help finance acquisition of natural gas properties from El Paso Corp.; Oklahoma City independent natural gas producer; marketed via conference calls; price talk 7 5/8% area; pricing expected Friday.

EL PASO CORP. SUBSIDIARIES: $700 million in two offerings:

1. SOUTHERN NATURAL GAS COMPANY: $400 million senior notes due 2010 (B1/B+); Salomon Smith Barney, Credit Suisse First Boston (joint), ABN Amro, BNP Paribas, JP Morgan (co's); Rule 144A; non-callable for four years; $95 million for general corporate purposes, remainder to pay a dividend to El Paso Corp.; subsidiary of El Paso Corp.; roadshow starts Tuesday; price talk 9 1/8%-9 3/8%; pricing Friday.

2. ANR PIPELINE CO.: $300 million senior notes due 2010 (B1/B+); Salomon Smith Barney, Credit Suisse First Boston (joint), ABN Amro, BNP Paribas, JP Morgan (co's); Rule 144A; non-callable for four years; to retire payables to affiliates, with $25 million retained for general corporate purposes; subsidiary of El Paso Corp.; roadshow starts Tuesday; price talk 9 1/8%-9 3/8%; pricing Friday.

WEEK OF MARCH 3

FAIRPOINT COMMUNICATIONS, INC.: $225 million senior notes due 2010 (B3); Credit Suisse First Boston, Salomon Smith Barney (joint), Banc of America Securities, Deutsche Bank Securities, Wachovia Securities (co's) Rule 144A; non-callable for four years; part of refinancing plan to reduce debt amortization on credit facilities, extend average life of debt; Charlotte, N.C. provider of rural telecommunications services; roadshow started Feb. 19; price talk 12% area; expected to price by end of February.

RADNOR HOLDINGS CORP.: $135 million of senior notes due 2010 (B2/B-); Deutsche Bank Securities (books), Fleet Securities, PNC, UBS Warburg (co's) Rule 144A; to repay revolver and existing notes; Radnor, Pa. manufacturer and distributor of foam packaging and specialty chemical products for the foodservice, insulation and protective packaging industries; roadshow started Feb. 24; pricing March 3 or 4.

BARRY CALLEBAUT SERVICES: €150 million senior subordinated notes due 2010 (B1/BB-); Credit Suisse First Boston; non-callalble for four years; to repay debt; makers and distributors of Swiss chocolate; roadshow starts Friday; expected to price late in the week of March 3.

WEEK OF MARCH 10

WILLIAM LYON HOMES: $200 million senior notes due 2013 (B3/expected B-); UBS Warburg, Salomon Smith Barney (joint books); registered; non-callable for five years; equity clawback; to repay debt including $71 million 12½% notes due 2003 issued by The Presley Cos.; Newport Beach, Calif. homebuilder; roadshow March 3-12; pricing March 12.

THE SHAW GROUP: $250 million senior notes due 2010; Credit Suisse First Boston, UBS Warburg (joint); Rule 144A; non-callable for four years; to tender for LYONs; Baton Rouge, La.-based company provides piping systems, engineering, procurement and construction services to power generators; roadshow starts Friday; pricing during the week of March 10.

FIRST QUARTER

MOORE NORTH AMERICA FINANCE, INC.: $400 million senior notes 2013; Rule 144A; Deutsche Bank, Salomon Smith Barney and Morgan Stanley; also $850 million credit facility; to finance acquisition of Computer Services Inc. and refinance debt of Moore and Wallace; print and digital information management company headquartered in Stamford, Conn.; roadshow likely to begin March 4 or 5.

RESOURCE AMERICA, INC.: $30 million of 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 company develops, produces and transports oil and natural gas in the Appalachian Basin.

http://www.sec.gov/Archives/edgar/data/83402/000095011603001564/s3.txt

PEABODY ENERGY: $500 million senior notes; also $1.2 billion credit facility via Lehman Brothers; to fund tender for its 8 7/8% senior notes due 2008, which expires March 27; St. Louis coal company.

DOLE FOOD CO.: Up to $450 million of bonds to help fund leveraged buyout by DHM Acquisition Co. vehicle of company chairman David H. Murdock; with up to $1.1 billion of senior secured credit facilities via Deutsche Bank, Scotia Capital and Bank of America; Westlake Village, Calif. fresh fruit, vegetables and flowers company.

TRUMP CASINO HOLDINGS, LLC/TRUMP CASINO FUNDING, INC.: $470 million mortgage notes due 2011; Credit Suisse First Boston, Deutsche Bank Securities, UBS Warburg (joint); Rule 144A; to refinance debt; gaming firm.

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

ON THE HORIZON

AMERIPATH INC.: new high yield issuance (B3/B-); Credit Suisse First Boston and Deutsche Bank; also $375 million credit facility; to help fund LBO by Welsh, Carson, Anderson & Stowe, to be completed before April 30, 2003. transaction valued at approximately $839.4 million; Riviera Beach, Fla. provider of cancer diagnostics, genomic, and related information services; anticipated first quarter of 2003.

RIVERWOOD HOLDING, INC.: senior notes (B-); along with proceeds of IPO and new term loan, to repay outstanding senior notes and senior subordinated notes and part of the borrowings on its revolving credit facility; Atlanta, Ga.-based paperboard company.

ROADSHOWS

Started Feb. 19: FAIRPOINT COMMUNICATIONS, INC. $225 million; Credit Suisse First Boston, Salomon Smith Barney; Rule 144A; 7NC4

Started Feb. 24: RADNOR HOLDINGS CORP. $135 million; Deutsche Bank Securities; Rule 144A; 7 year maturity

Starts Feb. 28: BARRY CALLEBAUT SERVICES Euro 150 million; Credit Suisse First Boston; 7NC4

Starts Feb. 28: THE SHAW GROUP $250 million; Credit Suisse First Boston, UBS Warburg; Rule 144A; 7NC4

March 3-12: WILLIAM LYON HOMES $200 million; UBS Warburg, Salomon Smith Barney; registered; 10NC5

Expected to start March 4 or 5: MOORE NORTH AMERICA FINANCE, INC.CORP. $400 million; Rule 144A; 10 year maturity


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