High Yield Calendar: $2.6 billion deals being marketed

MAY 24 WEEK

WILLBROS GROUP, INC.: $250 million senior secured second-lien notes due 2016 (B3/B+); UBS Investment Bank (left books), Credit Agricole CIB, Credit Suisse (joint books), Natixis Bleichroeder, Scotia Capital (co's); Rule 144A/Regulation S with registration rights; non-callable for three years; to partially fund acquisition of InfrastruX Group, Inc.; Houston-based provider of engineering, procurement and construction services to the oil and gas, refinery, petrochemical, and power industries; price talk 12% area; books closed Thursday.

CITGO PETROLEUM CORP. $1.5 billion senior secured notes (Ba2/BB+/) in tranches due 2017, non-callable for four years, and 2020, non-callable for five years; RBS Securities Inc., UBS Investment Bank, BNP Paribas Securities Corp., Credit Agricole CIB (joint); Rule 144A/Regulation S for life; both tranches have make-whole calls at Treasuries plus 50 bps; to repay debt and for general corporate purposes; Houston-based refiner and marketer of transportation fuels, lubricants, petrochemicals and other industrial products; day-to-day.

CEDAR FAIR, LP/CANADA'S WONDERLAND CO./MAGNUM MANAGEMENT CORP.: $500 million senior unsecured notes due 2020 (expected ratings B2/B-); JPMorgan, Wells Fargo Securities, UBS Investment Bank (joint), KeyBanc Capital Markets, Fifth Third (co's); Rule 144A/Regulation S with registration rights; non-callable for five years; to repay bank debt; Sandusky, Ohio-based owner and operator of amusement parks; day-to-day.

JUNE 7 WEEK

TRIUMPH GROUP, INC.: $350 million senior unsecured notes due 2018 (Ba3/B+); RBC Capital Markets Corp. (left books), UBS Investment Bank (joint books), PNC Capital Markets (senior co), BB&T Capital Markets, USBank Securities (co's); Rule 144A with registration rights; non-callable for four years; three-year 35% equity clawback; 101% poison put; to partially fund the acquisition of Vought Aircraft; Triumph is a Wayne, Pa.-based designer, engineer, manufacturer and repairer of aircraft components and accessories; roadshow starts June 2; pricing June 7 week.

ON THE HORIZON

BWAY HOLDING CO.: $200 million senior unsecured bridge loan and $565 million senior secured credit facilities; Bank of America Merrill Lynch, Deutsche Bank Securities; to fund buyout of BWAY by Madison Dearborn Partners LLC, valued at $915 million, including the assumption of debt; go-shop period until April 28, 2010; Atlanta-based supplier of general line rigid containers.

CAPELLA HEALTHCARE, INC.: $500 million senior notes due 2017 (B3/B); Bank of America Merrill Lynch, Citigroup Global Markets Inc., Barclays Capital Inc. (joint), Credit Agricole, Deutsche Bank Securities Inc., HFG Healthco Securities, Morgan Stanley & Co. Inc. (co's); Rule 144A with registration rights; non-callable for three years; 101% poison put; to repay bank debt; Nashville, Tenn.-based provider of health care services in primarily non-urban communities; roadshow concluded May 20; deal believed delayed due to market conditions.

CEGEDIM (/BB+/): Bonds expected, size and tenor to be announced following investor meetings mid-to-late May 17 week; Credit Agricole CIB, SG Corporate & Investment Banking; Paris-based health care technology company; roadshow completed.

CKE RESTAURANTS INC.: $600 million of senior secured second-priority notes and $100 million revolver via Morgan Stanley, Citigroup and RBC Capital Markets; to help fund its buyout agreement with Apollo Global Management, expected to be completed by the end of the second quarter of fiscal 2011; CKE Restaurants is a Carpinteria, Calif.-based owner of Carl's Jr. and Hardee's quick-service restaurant chains.

DYNCORP INTERNATIONAL INC.: $455 million senior unsecured notes and $715 million senior secured credit facility; Bank of America, Citigroup, Barclays Capital, Deutsche Bank Securities; to help fund its acquisition by Cerberus Capital Management LP, expected to close third or fourth quarter of 2010; Falls Church, Va.-based government services provider in support of U.S. national security and foreign policy objectives.

GENON ENERGY: New senior notes and new credit facility; to finance part of its creation through the merger of Mirant Corp. and RRI Energy Inc., expected to close before the end of 2010; GenOn will be a Houston-based power producer.

GENTIVA HEALTH SERVICES INC.: $305 million senior unsecured notes due 2018, backed by $305 million 12-month senior bridge loan via joint lead arrangers Barclays Capital, Bank of America Merrill Lynch and SunTrust Robinson Humphrey; also $925 million credit facility; to fund acquisition of Odyssey HealthCare Inc., expected to close in third quarter of 2010, and refinance existing debt; Gentiva is an Atlanta-based home healthcare provider.

HAWKEYE GROWTH LLC (HAWKEYE RENEWABLES): Up to $150 million first-lien notes; PrinceRidge Group; proceeds, along with cash on hand, to refinance debt; Ames, Iowa-based ethanol producer.

INTERACTIVE DATA CORP.: New high-yield bonds and credit facility; Bank of America, Barclays Bank, Credit Suisse and UBS Investment Bank are the lead banks on the financing; to help fund $3.4 billion buyout by Silver Lake and Warburg Pincus, expected to be concluded by the end of the third quarter of 2010; Interactive Data is a Bedford, Mass.-based provider of financial market data.

INVENTIV HEALTH INC.: $275 million senior unsecured notes; also $600 million senior secured credit facility to be led by Citigroup; to fund the acquisition of the company by Thomas H. Lee Partners LP, expected to close in the third quarter of 2010; inVentiv is a Somerset, N.J.-based provider of end-to-end clinical development, launch and commercialization services to the pharmaceutical and health care industries.

SPECTRUM BRANDS INC.: $500 million senior secured notes due 2017 (/B/) (decreased from $750 million); also $1.3 billion credit facility (increased from $1.05 billion) via Credit Suisse, Bank of America Merrill Lynch, Deutsche Bank, scheduled to launch May 24; to help refinance debt as part of merger with Russell Hobbs Inc.; Atlanta-based consumer products company.

TRANSUNION CORP.: $645 million senior unsecured notes due 2018 (B3/B-); J.P. Morgan Securities Inc., left books (high-yield bridge via Deutsche Bank Securities, Bank of America Merrill Lynch, JPMorgan and Credit Suisse); also $1.19 billion credit facility (bank meeting May 25, 2010); to finance the acquisition of a 51% stake in the company by Madison Dearborn Partners LLC and to refinance existing debt; Chicago-based provider of credit and information management.

ROADSHOWS

Starts June 6: TRIUMPH GROUP, INC. $350 million RBC Capital Markets, UBS Investment Bank.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.