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Published on 6/9/2009 in the Prospect News High Yield Daily.

High Yield Calendar: $1.3 billion deals being marketed

JUNE 8 WEEK

INTERPUBLIC GROUP OF COS., INC.: $500 million senior unsecured notes due 2017; Morgan Stanley & Co. Inc., Citigroup Global Markets Inc., J.P. Morgan Securities Inc., UBS Investment Bank (joint), HSBC Securities, ING Wholesale, Lloyds TSB Corporate Markets; Rule 144A with registration rights; non-callable for four years; to fund tender for 2010 and 2011 notes, to repay other debt, for general corporate purposes and for working capital; New York-based advertising and marketing services company; unofficial guidance 10½% area; pricing expected Wednesday.

PENN VIRGINIA CORP.: $250 million senior notes due 2016 (BB-); J.P. Morgan Securities Inc. (lead-left), Banc of America Securities LLC, Wachovia Securities LLC, Barclays Capital Inc. (joint), BNP Paribas Securities Corp., RBC Capital Markets Corp. (senior co's), Capital One Southcoast, PNC Capital Markets LLC, UBS Investment Bank (co's); SEC registered; non-callable for four years; for general corporate purposes, possibly including additions to working capital, debt refinancing and funding capital expenditures and acquisitions; Radnor, Pa., independent oil and gas company; price talk 11% to 11¼%; books close Wednesday 4 p.m. ET except for West Coast meetings; pricing Thursday morning.

WALLACE THEATER HOLDINGS INC.: $150 million senior secured notes due 2013; Jefferies & Co.; Rule 144A; non-callable for two years; two-year 35% equity clawback; change-of-control put at 101%; to repay outstanding debt under the existing credit facilities and for general corporate purposes; Portland, Ore.-based motion picture exhibitor; roadshow, started June 1, is scheduled to run until the middle of the June 8 week.

JUNE 15 WEEK

TERREMARK WORLDWIDE, INC.: $400 million senior secured first-lien notes due June 2017 (B2/B-); Credit Suisse, Jefferies & Co., RBC Capital Markets; Rule 144A with registration rights; non-callable for four years; change of control put at 101; to repay existing debt and general corporate purposes; Miami, Fla.-based information technology company; to price June 15 week following six-day roadshow.

ON THE HORIZON

CDW CORP.: $1.94 billion notes: $890 million senior unsecured cash-pay notes due 2015 (Caa1/CCC+), $300 million senior unsecured PIK toggle notes due 2015 (Caa1/CCC+) and $750 million senior subordinated notes due 2017 (Caa2/CCC+); J.P. Morgan Securities Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. Inc.; to refinance bridge loan related to LBO; Vernon Hills, Ill., provider of technology products and services.

GENERAL MOLY: $540 million to $700 million debt financing including high-yield bonds, leveraged loans and possibly convertibles; Credit Suisse and Barclays, arrangers; to fund the Mt. Hope molybdenum project, located in central Nevada; also $240 million to $400 million of equity; formerly Idaho General Mines, General Moly is a Lakewood, Colo.-based molybdenum mineral development, exploration and mining company.

NORTH AMERICAN ENERGY ALLIANCE: $325 million senior unsecured notes; Barclays Capital Inc.; also $545 million credit facility (BB+); to help back the roughly $1.477 billion acquisition of 1,706 megawatts of generation projects by Industry Funds Management from Consolidated Edison Inc.

REAL MEX RESTAURANTS, INC.: $110 million senior secured notes due 2012; to repay senior secured notes due April 1, 2010 and for general corporate purposes; Cypress, Calif.-based restaurant company.

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.

TRIDENT RESOURCES: New senior unsecured notes and new revolver in conjunction with IPO led by Deutsche Bank Securities Inc. and Jefferies & Co.; to recapitalize the company and repay debt; Calgary, Alta.-based natural gas production company.

ROADSHOWS

Started June 1: WALLACE THEATER HOLDINGS INC. $150 million; Jefferies & Co.

June 4-10: PENN VIRGINIA CORP. $250 million; J.P. Morgan Securities Inc.

To price June 15 week: TERREMARK WORLDWIDE, INC. $400 million; Credit Suisse, Jefferies & Co., RBC Capital Markets.


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