High Yield Calendar: $2.550 billion deals being marketed

WEEK OF NOV. 27

MOMENTIVE PERFORMANCE MANAGEMENT (General Electric's silicone products business, name changed from Nautilus Acquisition) $1.95 billion: $1.355 billion eight-year senior notes and toggle notes (B-), non-callable for four years, in dollar and euro tranches, and $595 million 10-year senior subordinated notes (CCC+), non-callable for five years, in dollar and euro tranches; JP Morgan, GE Capital, UBS Investment Bank (joint books); to fund the acquisition of the company by Apollo Management LP; roadshow started Nov. 15 in Europe and United States.

COMPLETE PRODUCTION SERVICES INC.: $600 million of senior notes due 2016 (B2); Credit Suisse; Rule 144A/Regulation S; to repay bank debt; Houston-based provider of specialized services and products for oil and gas companies; expected to price week of Nov. 27.

ON THE HORIZON

ARAMARK CORP.: $2.470 billion bonds including $770 million senior subordinated notes and $1.7 billion senior cash pay and/or senior PIK notes, with 50% of the principal having to come in the form of PIK notes, also $4.605 billion credit facilities led by JP Morgan and Goldman Sachs; to fund the approximately $8.3 billion LBO of the company by chairman and chief executive officer Joseph Neubauer together with funds managed by sponsors by Thomas H. Lee Partners LP, Warburg Pincus LLC, JPMorgan Partners, GS Capital Partners and CCMP Capital Advisors, expected to close late 2006 or early 2007; Philadelphia-based professional food, hospitality and facility management services company.

ARMOR HOLDINGS INC.: $400 million senior subordinated notes (B1/B+); company disclosed in a 10-Q filed Oct. 31 with the SEC that it is monitoring the interest rate environment seeking an opportunity to return with the transaction it withdrew on June 27, 2006, due to market conditions; Jacksonville, Fla., maker of security products.

CABLEVISION SYSTEMS CORP. $2.81 billion high-yield bonds: SUPER HOLDCO $1.13 billion unsecured senior fixed-rate and floating-rate notes with 10-year minimum maturities; INTERMEDIATE HOLDCO $900 million unsecured senior fixed-rate and floating-rate notes with eight-year minimum maturities; RAINBOW PROGRAMMING HOLDINGS LLC $780 million unsecured senior fixed-rate and floating-rate notes with eight-year minimum maturities; also $9.55 billion in new credit facilities via Merrill Lynch and Bear Stearns; to help fund the buyout of Cablevision by the Dolan Family Group; Cablevision is a Bethpage, N.Y., media, entertainment and telecommunications company.

CONSUMER SOURCE INC.: $150 million second-lien loan and/or notes; to fund dividend go Primedia Inc., which Primedia will use to extinguish all existing bank debt; Consumer Source is a New York-based publisher and distributor of free real estate and automobile guides.

THE GEO GROUP INC. (via to-be-named bankruptcy remote subsidiary): $275 million senior secured notes; Rule 144A/Regulation S; proceeds, together with amended senior credit facility and cash on hand, to fund proposed acquisition of CentraCore Properties Trust; Boca Raton, Fla., provider of government-outsourced services in the management of correctional, detention and mental health facilities.

HANESBRANDS INC.: $500 million of senior notes; Morgan Stanley, Merrill Lynch & Co.; also $2.6 billion senior secured credit facility; substantial portion of the proceeds from the term loan and the bond offering to pay a dividend to Sara Lee prior to the spinoff; following the spinoff, Winston-Salem, N.C.-based Hanesbrands will operate as a publicly traded apparel company.

INFOR GLOBAL SOLUTIONS: High-yield notes (Caa2) to refinance a $1.425 billion senior subordinated bridge facility; also $2.4 billion credit facility via JP Morgan, Credit Suisse and Merrill Lynch & Co. joint bookrunners; part of financing to help fund the acquisitions of Systems Union Group and SSA Global, finance the combination of Infor and Extensity - both currently Golden Gate Capital portfolio companies - and to refinance debt at all four companies; Infor is an Alpharetta, Ga.-based software provider.

KINDER MORGAN INC.: $14.5 billion of funded debt including senior and/or subordinated notes; to help fund proposed $22 billion buyout of the company by management and equity investors led by Goldman Sachs, Citigroup, Deutsche Bank, Wachovia, Merrill Lynch, expected to be completed by early 2007; Houston-based energy infrastructure provider.

OPEN SOLUTIONS INC.: $325 million senior subordinated notes; Rule 144A; also $605 million senior secured credit facility via Wachovia, JP Morgan; also $560 million equity commitment; $325 million bridge facility backing the bonds; to fund the acquisition of Open Solutions by The Carlyle Group and Providence Equity Partners, expected to be completed in first quarter of 2007.

OPTI CANADA INC.: Up to $1.0 billion high-yield senior secured notes; also C$700 credit facility; to retire Opti's existing C$900 million project credit facility, fund its share of costs associated with phase 1 of the Long Lake project as well as fund upfront development costs for phase 2, transaction expected to close by the end of 2006; Calgary, Alta.-based petroleum reserve development company.

PAPELES INDUSTRIALES DE MICHOACAN SA DE CV: $320 million senior guaranteed notes due 2016 (Ba3/BB-/BB-); Citigroup; Rule 144A/Regulation S (no registration rights); non-callable for five years, three-year equity clawback; for acquisition finance; issuer formed when Kimberly-Clark de Mexico SA de CV spun off paper and notebooks division.

PT POLYFIN CANGGIH: $75 million senior secured notes due 2011 and 250 warrants to purchase shares; Jefferies & Co.; private placement and Regulation S; non-callable for two years; two-year 35% equity clawback; to repay existing debt, for working capital and general corporate purposes; producer of polyester chips and synthetic yarn in Indonesia, to be incorporated in The Netherlands (guarantors are incorporated in Indonesia, Singapore and the British Virgin Islands; the company's registered office is in Bandung, Indonesia); September business.

REXNORD CORP.: $460 million (expected size) high-yield bonds; to be issued under the indenture of the existing 9½% senior notes due Aug. 1, 2014 or 11¾% senior subordinated notes due Aug. 1, 2016; proceeds for Zurn purchase of Jacuzzi Brands, Inc.'s plumbing products business for about $950 million, expected to close 2007 first quarter; Milwaukee-based power train manufacturer.

RITE AID CORP: $875 million six-year notes (could be increased by $850 million if Jean Coutu 8½% senior subordinated notes are not assumed); Citigroup; also $1.105 billion senior secured term loan; to fund the acquisition of Jean Coutu Group USA Inc., transaction expected to close late 2006 or early 2007; Rite Aid is a Camp Hill, Pa., national drugstore chain.

SUN HEALTHCARE GROUP INC.: $250 million senior subordinated notes; also $505 million senior secured credit facility via Credit Suisse and CIBC; to fund its acquisition of Harborside Healthcare Corp., expected to close in first half of 2007; Sun is an Irvine, Calif., operator of long-term and postacute care facilities, and a provider of therapy, medical staffing, home care and hospice services.

TNT LOGISTICS €730 million bonds: €430 million in senior notes, €300 million in senior subordinated notes; Credit Suisse, Bear Stearns, Goldman Sachs & Co., ABN Amro; also €805 million credit facility; to back Apollo Management, LP's already completed buyout of TNT NV's logistics division for €1.48 billion; Amsterdam-based logistics company; expected in market before Thanksgiving.

TROPICANA ENTERTAINMENT: $975 million in high-yield bonds; also $2.175 billion in credit facilities; Credit Suisse is the lead bank on the debt transactions; in connection with acquisition of Aztar Corp.; a newly formed subsidiary of Columbia Entertainment, a Fort Mitchell, Ky., owner, developer and operator of hotel properties and casinos; expected to close by the end of 2006.

UNIVISION COMMUNICATIONS INC.: $2 billion high-yield bonds via Credit Suisse (Deutsche Bank, Bank of America Securities and Wachovia expected to be involved), also new $8.25 billion credit facility; to help back leveraged buyout by Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and Saban Capital Group; expected to close in spring 2007; Los Angeles-based Spanish-language media company.

THE YANKEE CANDLE CO. INC.: $525 million high-yield notes, also $775 million senior secured credit facility; financing being led by Lehman Brothers, Merrill Lynch; $300 million senior unsecured increasing-rate bridge facility and a $225 million senior subordinated increasing-rate bridge facility backing bonds; also $433.3 million equity financing; to help fund LBO by Madison Dearborn Partners, LLC, expected to launch in first quarter of 2007.

ROADSHOWS

Started Nov. 15: MOMENTIVE PERFORMANCE MANAGEMENT $1.95 billion; JP Morgan, GE Capital, UBS Investment Bank

To price post-Thanksgiving week: COMPLETE PRODUCTION SERVICES INC. $600 million; Credit Suisse

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