High Yield Calendar: $6.855 billion deals being marketed

WEEK OF JUNE 25

CANWEST MEDIAWORKS LP: $650 million senior subordinated notes due 2017 (B2); Citigroup, Scotia Capital; Rule 144A for life/Regulation S; non-callable for five years; to refinance debt and general corporate purposes including corporate development or distributions to CanWest MediaWorks; Winnipeg, Man.-based Canadian newspaper publisher; price talk 9% to 9¼%; pricing Thursday.

DOLLAR GENERAL CORP.: $1.9 billion high-yield notes; $1.35 billion senior notes due 2015 (Caa1/CCC+), non-callable for four years: $625 million cash-pay notes, price talk 10½% area, and $725 million PIK toggle notes, price talk 11% area, also $550 million senior subordinated notes due 2017 (Caa2/CCC+), non-callable for five years, price talk 12% area; Goldman Sachs & Co., Citigroup, Lehman Brothers, Wachovia Securities (joint); Rule 144A/Regulation S with registration rights; to help fund merger; Goodlettsville, Tenn., discount retailer; pricing Thursday afternoon.

CDRSVM ACQUISITION CO. INC. (to be merged with and into THE SERVICEMASTER CO.) $1.15 billion senior notes due 2015 (B3/CCC+): $575 million cash pay notes and $575 million toggle notes, both non-callable for four years; JP Morgan, Citigroup, Goldman Sachs & Co., Morgan Stanley, Banc of America Securities LLC (joint), BNP Paribas, Fortis Securities, GE Capital Markets, HSBC, Mitsubishi Securities, Mizuho Securities, Natexis Bleichroeder, Rabo Securities, RBS Greenwich Capital (co's); previously a single tranche of eight-year toggle notes; to fund the LBO; Downers Grove, Ill., provider of home maintenance services to residential and commercial customers; roadshow started June 20; pricing scheduled for Friday.

HIGH ARCTIC ENERGY SERVICES TRUST: $130 million bonds due 2012; SEB Merchant Banking and Swedbank; callable; to repay bank debt and fund capital expenditures; Red Deer, Alta., provider of specialized oilfield equipment and services; price talk 10¼% to 10½%.

METALS USA HOLDINGS CORP.: $300 million senior floating-rate toggle notes due 2014 (Caa1/CCC); UBS Investment Bank; Rule 144A/Regulation S with registration rights; non-callable for six months; 75 bps PIK coupon step-up; to redeem 2006 holdco notes, pay a cash dividend to stockholders and make a cash payment to stock option holders; Houston-based metals services provider; to price at an original issue discount of 99.00.

NATIONAL MENTOR HOLDINGS INC.: $150 million senior floating-rate toggle notes due 2014; Banc of America Securities LLC (left books), UBS Investment Bank (joint books); Rule 144A without registration rights; non-callable for two years; to redeem preferred units and pay a dividend to parent NMH Investment LLC; provider of home and community-based human services to individuals; roadshow started June 27 with investor call, concludes June 28 with pricing at end of week.

WEEK OF JULY 9

INTERGEN GROUP: $1.975 billion equivalent senior secured first-lien high-yield bonds in tranches of dollars, sterling and possibly euros (Ba3/BB-); Merrill Lynch & Co.; also $1.55 billion credit facility; to refinance LBO-related debt; Burlington, Mass., power generation company; U.S. and European roadshow starts July 2.

J&F I FINANCE CO. (SWIFT & CO.) $600 million senior notes (B2/B) in three tranches: $200 million fixed-rate notes due 2015, non-callable for four years, $200 million toggle notes due 2015, non-callable for four years, and $200 million floating-rate notes due 2014, non-callable for two years; JP Morgan, Credit Suisse (joint); Rule 144A with registration rights; to fund the acquisition of Swift Foods Co. by J&F Participacoes SA; roadshow started June 26; pricing expected July 10.

EXPECTED JULY BUSINESS

BIOMET INC.: $2.565 billion: $775 million senior notes (B3/B-), $775 million senior PIK notes (B3/B-), $1.1015 billion senior subordinated notes (Caa1/B-); Banc of America Securities LLC, Goldman Sachs & Co., Bear Stearns & Co., Lehman Brothers, Wachovia Securities; also $4.35 billion senior secured credit facility; to finance LBO; Warsaw, Ind., designer and manufacturer of musculoskeletal medical products; expected July business.

GREAT ATLANTIC & PACIFIC TEA CO. INC.: $780 million senior secured high-yield bonds; Banc of America Securities LLC, Lehman Brothers, also $600 million ABL revolver; to help fund its purchase of Pathmark Stores Inc. for $1.3 billion in cash, stock and debt assumption or retirement, expected to be completed during the second half of A&P's fiscal 2007 year, structure of financing and timing pending market conditions; A&P is a Montvale, N.J.-based supermarket chain.

SOURCE INTERLINK COS. INC.: $465 million senior subordinated notes expected to price with coupon in the high 9% area; also $1.18 billion credit facility led by Citigroup, JP Morgan, bank meeting June 19; to fund the acquisition of Primedia Inc.'s Enthusiast Media; Source Interlink is a Bonita Springs, Fla., provider of merchandising and fulfillment services for home entertainment products.

LBI MEDIA INC.: $225 million senior subordinated notes due 2017 (B2/CCC+); Credit Suisse is expected to be bookrunner; Rule 144A; to refinance 10 1/8% notes due 2012, repay bank debt and general corporate purposes; Burbank, Calif., operator of Spanish-language radio and television stations; expected June business.

ON THE HORIZON

AEROFLEX INC.: $370 million senior subordinated unsecured high-yield securities; also $560 million credit facility; Goldman Sachs & Co. leads debt financing; to help fund LBO of the company by Veritas Capital for $1.1 billion; Plainview, N.Y., provider of technology services to the aerospace, defense, cellular and broadband communications markets.

ALLIANCE DATA SYSTEMS CORP. $2.21 billion bonds: $1.8 billion senior unsecured notes and $410 million senior subordinated notes; also $4.4 billion credit facility; Credit Suisse lead bank on financing; to help fund $7.8 billion LBO by The Blackstone Group expected to close by end of 2007; Dallas-based provider of marketing, loyalty and transaction services.

AFFILIATED COMPUTER SERVICES INC.: $2.515 billion of high-yield notes and $4.05 billion senior secured credit facility; to help finance public-to-private bid by Darwin Deason, founder and chairman, and Cerberus Capital Management LP for about $8.2 billion; Citigroup has provided the bidders with a "highly confident" letter regarding its ability to raise the necessary debt; investment partners are prepared to enter into negotiations with the company immediately and are ready to move quickly to complete the transaction; Dallas-based provider of business process outsourcing and information.

ALLTEL COMMUNICATIONS INC.: $7.7 billion bonds backed by $4.7 billion senior unsecured cash pay bridge loan and a $3 billion senior unsecured PIK option bridge loan via Citigroup, Goldman Sachs, Barclays, RBS Securities; also $15.5 billion credit facility and up to $4.6 billion of sponsor equity; financing backing $27.5 billion acquisition of Alltel by TPG Capital and GS Capital Partners, expected in fourth quarter of 2007; Little Rock, Ark., provider of wireless voice and data communications services.

CATALINA MARKETING CORP.: $490 million high-yield bonds and $760 million credit facility in LBO financing via Morgan Stanley, Bear Stearns & Co., Goldman Sachs & Co.; Catalina, St. Petersburg, Fla., provider of behavior-based promotional messaging, loyalty programs and direct-to-patient information, is being acquired by Hellman & Friedman Capital Partners VI, LP for $1.7 billion, in transaction expected to be completed during third quarter of 2007.

CERIDIAN CORP. $1.4 billion: $1 billion senior unsecured notes and $400 million senior subordinated notes; also $2.3 billion credit facility; Deutsche Bank and Credit Suisse lead banks on financing; to fund LBO by Thomas H. Lee Partners, LP and Fidelity National Financial Inc., expected to close in the fourth quarter; Minneapolis-based management services provider.

CEVA GROUP PLC: $1.447 billion senior unsecured notes and/or senior unsecured PIK toggle notes; also $1.5 billion credit facility; Credit Suisse, Morgan Stanley, Bear Stearns, JPMorgan, UBS leads on debt financing; to help fund its acquisition of EGL Inc. expected to close in the third quarter; CEVA is a Hoofddorp, Netherlands-based logistics and supply chain management company.

CLEAR CHANNEL COMMUNICATIONS INC.: $2.6 billion high-yield bonds (decreased from $4.1 billion) and $19.525 billion credit facility (upsized from $17.375 billion); Citigroup, Deutsche Bank, Morgan Stanley, Credit Suisse, RBS Greenwich Capital and Wachovia are lead banks on the debt financing; to help back its leveraged buyout by Thomas H. Lee Partners, LP and Bain Capital Partners, LLC, expected to be completed by the end of 2007; also $3.44 billion sponsor equity; San Antonio media and entertainment company.

CONSUMER SOURCE INC.: $150 million second-lien loan and/or notes; to fund dividend to 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.

EUROFINS SCIENTIFIC: €68 million perpetual securities; Dresdner Kleinwort, HSBC; non-callable for seven years; for general corporate purposes; Brussels-based life sciences company.

FIRST DATA CORP.: $8 billion notes; Citigroup plus others; also $16 billion bank loan, bank meeting May 30; to fund Kohlberg Kravis Roberts & Co.'s $34-per-share buyout of First Data; Greenwood Village, Colo., check and credit card transaction services provider.

HARMAN INTERNATIONAL INDUSTRIES INC.: $1.74 billion: $1.16 billion senior unsecured notes and $580 million senior subordinated notes; also $3.45 billion credit facility; Bank of America, Credit Suisse, Goldman Sachs, Lehman Brothers; to fund LBO by Kohlberg Kravis Roberts & Co. LP and GS Capital Partners, expected in third quarter of 2007; Washington, D.C., manufacturer of high-fidelity audio and electronics products.

INTELSAT HOLDINGS LTD.: $5.11 billion expected in two approximately equal-sized tranches; Credit Suisse, Banc of America Securities LLC, Morgan Stanley; to help fund LBO by BC Partners and certain other investors, including about $860 million of existing debt at Intelsat (Bermuda), Ltd. and to defease or retire the $400 million Intelsat, Ltd. 5¼% senior notes due 2008, expected to close between November 2007 and February 2008; Pembroke, Bermuda, provider of fixed satellite services.

INTEGRA TELECOM INC.: $215 million senior notes; Deutsche Bank and CIBC have provided the company with the commitment letter to purchase the notes; also $965 million revolver via Deutsche Bank, Morgan Stanley and CIBC; to help fund the acquisition of Minneapolis-based Eschelon Telecom, Inc. and repay Eschelon debt; transaction expected to close in third quarter of 2007; Integra is a Portland, Ore.-based provider of telecommunications and internet services for businesses.

INVERNESS MEDICAL INNOVATIONS INC.: $317.5 million senior subordinated notes (decreased from $450 million) backed by bridge from UBS and General Electric Capital Corp.; also $1.3 billion credit facility; financing for acquisition of Biosite Inc.; Inverness is a Waltham, Mass.-based diagnostic devices company.

LAUREATE EDUCATION INC.: $1.05 billion: $725 million senior unsecured notes (B3) and $325 million senior subordinated notes (Caa1), also $1.15 billion credit facility; financing led by Goldman Sachs, Citigroup; to help fund LBO expected to close in June; Baltimore-based provider of higher education.

MYERS INDUSTRIES INC.: $265 million senior subordinated notes due 2017; Rule 144A for life; also $685 million credit facility; Goldman Sachs & Co. lead on debt financing; to help fund acquisition of the company by GS Capital Partners in a transaction valued at $1.07 billion; Akron, Ohio, manufacturer of polymer products for industrial, agricultural, automotive, commercial and consumer markets.

MYLAN LABORATORIES INC.: $2.85 billion senior notes and $4.85 billion credit facility in financing led by Merrill Lynch, Citigroup and Goldman Sachs & Co.; to help fund acquisition of Merck KGaA's generic business, expected to close in the second half of 2007; Canonsburg, Pa., pharmaceutical company.

PENN NATIONAL GAMING INC.: High-yield bonds and new credit facility via Deutsche Bank Securities and Wachovia Securities; to fund LBO by Fortress Investment Group LLC and Centerbridge Partners LP, valued at about $8.9 billion, including repayment of $2.8 billion of outstanding Penn National debt; Wyomissing, Pa., gaming company.

RCN CORP.: $250 million unsecured debt and term loans; Deutsche Bank Securities; to help fund its acquisition of NEON Communications Group Inc., expected to close in fourth quarter of 2007; RCN is a Herndon, Va.-based provider of video, data and voice services.

RIVERDEEP INTERACTIVE LEARNING USA: $820 million senior subordinated notes; Credit Suisse, Citigroup (joint); proceeds along with $1.87 billion senior bank debt, $750 million mezzanine debt and $1.5 billion equity to fund the acquisition of Houghton Mifflin by Riverdeep from Thomas H. Lee Partners, Bain Capital Partners, LLC and Blackstone Group for $3.4 billion; Riverdeep, based in Dublin, Ireland, is a publisher of interactive products for the consumer and school markets.

SLM CORP. (SALLIE MAE): $4 billion senior secured second-lien notes; backed by $4 billion bridge financing via Bank of America and JP Morgan; also $12.5 billion term loan; to fund LBO by an investor group led by J.C. Flowers & Co. expected to close late 2007.

TELESAT: $900 million senior notes and $2.2 billion credit facility; Morgan Stanley, UBS Investment Bank to lead financing; to help fund acquisition of Telesat by a joint venture company formed by Loral Space & Communications Inc. and the Public Sector Pension Investment Board, expected to close by mid-2007; new company will be one of the world's largest operators of telecommunications satellites.

TRIBUNE CO.: $2.1 billion senior notes or senior subordinated notes backed up by $2.1 billion bridge via Merrill Lynch, JPMorgan, Citigroup and Bank of America; also $10.133 billion credit facility; to help finance public-to-private transaction; Chicago-based media company; expected to be completed by end of 2007.

PRIVATE PLACEMENT

BIO SOLUTIONS MANUFACTURING INC.: $31.2 million senior secured notes due 2014 with warrants; Regulation D/Regulation S; to finance up to 12 biodiesel fuel facilities and for working capital and general corporate purposes; Las Vegas-based developer of microbiological products for waste bioremediation.

INCOME DEPOSIT SECURITIES

OTELCO INC. 3 million income deposit securities representing 3 million shares of class A common stock and $22.5 million 13% senior subordinated notes due 2019; CIBC World Markets, UBS Investment Bank, Raymond James; to pay down term loan that matures on July 3, 2011; Oneonta, Ala., traditional wireline telephone services provider in several rural communities in Alabama, Maine and Missouri.

ROADSHOWS

Started June 26: J&F I FINANCE CO. (SWIFT & CO.) $600 million; JP Morgan, Credit Suisse

Started June 26: HIGH ARCTIC ENERGY SERVICES TRUST $130 million; SEB Merchant Banking, Swedbank

Started June 27: NATIONAL MENTOR HOLDINGS INC. $150 million; Banc of America Securities LLC

Starts July 2: INTERGEN GROUP $1.975 billion; Merrill Lynch & Co.

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