High Yield Calendar

Total amount of high-yield bond offerings being marketed: $300 million

EXPECTED TO LAUNCH WEEK OF SEPT. 5

WILLIAMS SCOTSMAN INC.: $300 million minimum high-yield notes due 2015; Deutsche Bank Securities, Citigroup, Banc of America Securities LLC, Lehman Brothers (joint), CIBC World Markets (co); Rule 144A; concurrent initial public offering of stock; concurrent $650 million asset-backed credit facility; to fund tender for 9 7/8% senior notes due 2007 and 10% senior secured notes due 2008; Baltimore, Md., provider of modular space solutions for the construction, education, commercial and industrial, and government markets; roadshow expected to start Sept. 6; expected to price during week of Sept. 12.

AMERISOURCEBERGEN CORP: $800 million minimum bonds; Lehman Brothers; to finance tender for $500 million 8 1/8% senior notes due 2008 and $300 million 7¼% senior notes due 2012; Valley Forge, Pa., pharmaceutical services companies servicing both pharmaceutical manufacturers and health care providers in the pharmaceutical supply channel, providing drug distribution and related services; expected to launch Sept. 6.

BROOKSTONE INC.: $190 million senior notes; Banc of America Securities LLC; also $100 million credit facility; to finance its leveraged buyout by Osim International, J.W. Childs Associates and Temasek Holding Ltd.; Merrimack, N.H., product developer and specialty retail company; expected to launch Sept. 6.

NBTY INC.: $150 million (minimum) senior subordinated notes; JP Morgan; Rule 144A; to fund tender for $150 million 8 5/8% senior subordinated notes due 2007; Bohemia, N.Y., vertically integrated manufacturer, marketer and distributor of nutritional supplements; expected to launch Sept. 6.

PANOLAM INDUSTRIES INC.: $150 million senior subordinated notes due 2013 (Caa1/CCC+); Credit Suisse First Boston, Jefferies & Co. (joint); also $155 million senior secured credit facility; to fund the acquisition of the company by Genstar Capital, The Sterling Group and management from the Carlyle Group; Shelton, Conn., provider of decorative surfaces for commercial and residential interiors, store and store fixtures and furniture; expected to launch Sept. 6.

SEPTEMBER BUSINESS

PACIFIC ENERGY PARTNERS: $100 million minimum high-yield bonds; Bank of America and Lehman Brothers; to help fund $455 million acquisition of some terminal and pipeline assets from subsidiaries of Valero LP; Long Beach, Calif., master limited partnership engaged in the business of gathering, transporting, storing and distributing crude oil and other related products; September business.

GAMESTOP CORP.: $950 million senior unsecured guaranteed notes (Ba3/B+): $300 million senior unsecured guaranteed floating-rate notes due 2011 and $650 million senior unsecured guaranteed fixed-rate notes due 2012; Banc of America Securities LLC, Citigroup, Merrill Lynch & Co.; to fund merger with EB Games, expected to close late-September, early-October 2005; GameStop is an electronic gaming company based in Grapevine, Texas; expected late September.

SS&C TECHNOLOGIES INC.: $205 million subordinated notes; Wachovia Securities, JP Morgan, Bank of America (joint); Rule 144A; also senior secured credit facility; to fund $982 million LBO of the company by Carlyle Group; Carlyle Group will also contribute equity; Windsor, Conn., company delivers investment and financial management software and related services focused exclusively on the financial services industry; expected September or October.

ON THE HORIZON

AMADEUS GLOBAL TRAVEL DISTRIBUTION SA: €1 billion (approximate); Credit Suisse First Boston; to fund the LBO of the company by BC Partners and Cinven; travel reservations firm based in Madrid, Spain; expected during first half of 2005.

BRASKEM SA: $100 million perpetual senior notes (/BB-/BB-); Banco Itau; Rule 144A/Regulation S; non-callable for five years; Sao Paulo, Brazil, petrochemical company.

THE DOLAN FAMILY GROUP (CABLEVISION): $4.25 billion in a multi-tranche bond offering at the holding company level; also $2.8 billion credit facility at the operating company level via Bank of America and Merrill Lynch; proceeds to be used to take Cablevision Systems Corp. private; pending shareholder approval; Cablevision is a Bethpage, N.Y.-based telecom and cable business.

DACOM CORP.: $300 million notes due 2010 (expected ratings Ba3/BB-); Credit Suisse First Boston; Rule 144A/Regulation S; non-callable for life; to refinance debt; South Korea-based integrated service provider of telecommunications and internet related services.

K. WAH CONSTRUCTION MATERIALS LTD.: $300 million and $500 million global bonds; Merrill Lynch & Co., Morgan Stanley; owner of Macau's Galaxy casino.

THE NEIMAN MARCUS GROUP INC.: $3.9 billion debt financing, including senior secured notes, revolving credit facility, term loans and possibly bridge loans; Credit Suisse First Boston to lead debt financing; to support acquisition of the company by Texas Pacific Group and Warburg Pincus LLC.

INTELSAT LTD.'s $7 billion acquisition of PANAMSAT HOLDING CORP.: $4 billion (approximate) minimum: PANAMSAT OPERATING CO. $572.9 million senior notes with the option to issue additional $663.57 million if PanAmSat 9% notes are refinanced, PANAMSAT HOLDING CO. $721.2 million in senior notes with option to issue additional $301.9 million if PanAmSat 10 3/8% notes are refinanced, INTELSAT OPERATING CO. up to $557 million of senior notes, INTELSAT HOLDING CO. up to $1.4155 billion in senior notes; also approximately $2.88 billion aggregate bank debt; financing provided by Deutsche Bank, Citigroup, Credit Suisse First Boston and Lehman Brothers; PanAmSat is a Wilton, Conn.-based satellite network operator; Intelsat is a Pembroke, Bermuda, satellite communications company; expected to be completed in 2006.

PER-SE TECHNOLOGIES INC.: $410 million in new debt including senior subordinated debt and bank debt; financing commitment from Bank of America; proceeds in addition to $240 million of Per-Se stock and cash on hand to help fund its acquisition of NDCHealth Corp.; Per-Se is an Alpharetta, Ga., provider of connective health care solutions to physicians and hospitals; transaction expected to be completed late 2005 or early 2006

PETROHAWK ENERGY CORP.: $170 million notes due 2013; BNP Paribas expected bookrunner; non-callable for four years; to back the consolidation of the bank debt of Petrohawk and soon-to-be-acquired Mission Resources Corp.; bank group includes BNP Paribas; Petrohawk is a Houston-based energy company; Mission Resources is a Houston-based independent exploration and production company.

SCHOOL SPECIALTY INC.: $525 million in senior unsecured and senior unsecured subordinated bridge facilities; also $665 million senior secured credit facility via JP Morgan and Bank of America expected in September; financing also includes up to $150 million pay-in-kind loans under a senior unsecured subordinated bridge facility, a $175 million trade receivables commercial paper co-purchase conduit facility and $460 million in equity financing from Bain Capital Partners LLC; to help finance Bain's leveraged buyout of the company in a $1.5 billion transaction including assumption of non-convertible debt totaling $101 million, and for general corporate purposes; Greenville, Wis., education company.

TARGA RESOURCES INC.: $400 million high-yield bonds; Credit Suisse First Boston, Merrill Lynch & Co., Goldman Sachs & Co.; $1.45 billion credit facility; to help fund Targa's acquisition of Dynegy Inc.'s Midstream natural gas business for $2.35 billion; independent midstream energy company formed in 2003 by management and the global private equity firm Warburg Pincus; acquisition expected to close late October.

TIM HELLAS: Bond financing to back €1.1 billion buyout of the company by Apax Partners and Texas Pacific Group from Telecom Italia; Deutsche Bank Securities, JP Morgan, others; TIM Hellas is the Greek mobile telephone operation, of which Telecom Italia is the majority stakeholder.

TRAVELEX GROUP: Sterling-denominated bonds, size of offering to be determined; Deutsche Bank Securities; a consortium led by Apax Partners signed an agreement in February 2005 to acquire a majority stake in Travelex, transaction expected to close in 2005; London-based foreign currency exchange services provider.

VENETIAN MACAU LTD.: $300 million floating-rate notes; Goldman Sachs

WYNN RESORTS (MACAU) SA: $744 million equivalent; Banc of America Securities LLC, Deutsche Bank Securities

ROADSHOWS

Starts Sept. 6: WILLIAMS SCOTSMAN INC. $300 million minimum; Deutsche Bank Securities, Citigroup, Banc of America Securities LLC, Lehman Brothers

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