High Yield Calendar: $3.4 billion, €1.1 billion and CHF 235 million deals being marketed

June 22 Week

ENDO INTERNATIONAL PLC: $1,435,000,000 senior notes due 2023 (B1/B) via subsidiaries ENDO LTD., ENDO FINANCE LLC and ENDO FINCO INC.; Barclays (joint books, bill and deliver), Deutsche Bank, Credit Suisse, Citigroup (joint books), BofA Merrill Lynch, DnB Markets, Morgan Stanley & Co. LLC, RBC Capital Markets, SMBC Nikko (co's); Rule 144A and Regulation S for life; callable after three years at par plus 75% of coupon; three-year 35% equity clawback; 101% change-of-control put; proceeds, along with new credit facilities and cash on hand, to help fund acquisition of Woodcliff, N.J.-based pharmaceuticals developer Par Pharmaceutical Holdings Inc., expected to close during the second half of 2015 (if the acquisition is not consummated prior to Feb. 12, 2016, the issuers will redeem the notes at par plus accrued interest); Dublin-based specialty pharmaceutical company; roadshow June 22-June 24; price talk 6% to 6 ¼%; books close 5 p.m. ET Tuesday; pricing Wednesday morning.

UNIVAR INC.: $400 million senior unsecured notes due 2023 (Caa1/B); BofA Merrill Lynch, Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Wells Fargo Securities LLC, HSBC Bank, SunTrust Robinson Humphrey, Morgan Stanley & Co., Barclays, Citigroup Global Markets, Credit Suisse Securities (USA) LLC (joint), MUFG, US Bancorp, SMBC Nikko, ING (co's); Rule 144A/Regulation S for life; non-callable for three years; three-year equity clawback for up to 40% of issue; change-of-control put at 101%; proceeds together with cash on hand and borrowings under new bank credit facilities to refinance certain debt under its existing senior secured credit facilities; Downers Grove, Ill.-based distributor of industrial and specialty chemicals; roadshow started June 18; price talk 6 ¾% area; books close 2 p.m. ET Wednesday, pricing Wednesday afternoon.

MY ALARM CENTER, LLC and MY ALARM CENTER, INC.: $265 million senior secured notes due 2020 (B3); Imperial Capital; Rule 144A and Regulation S for life; callable after two years at par plus 75% of coupon; to refinance debt, terminate an interest rate swap, and general corporate purposes; Newtown Square, Pa.-based provider of security alarm and home automation solutions for primarily residential households in the United States; roadshow started June 9; New York investor luncheon June 11.

GEORGIA RENEWABLE POWER, INC.: $225 million first-lien senior secured notes due 2022 (expected rating Ba); Seaport Global (sole books); non-callable for three years; 10% annual amortization; 50% cash flow sweep; for general corporate purposes; Albany, Ga.-based renewable power generator; to be marketed during June 15 week.

NORD ANGLIA EDUCATION FINANCE LLC: CHF 235 million senior secured notes due 2022 (B1/B+); Credit Suisse, Goldman Sachs, Deutsche Bank, HSBC; non-callable for three years; proceeds, together with additional debt and new equity, to fund the acquisition of six schools from Meritas Schools Holdings LLC; international educational services provider based in the United Kingdom; roadshow started June 15.

TI AUTOMOTIVE: $550 million senior unsecured notes due 2023 (Caa1/B); Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Barclays, Mizuho, Goldman Sachs & Co., Nomura, RBC, UBS Securities LLC; Rule 144A/Regulation S for life; non-callable for three years, first call at par plus 50% of coupon, then par plus 25% of coupon, declining thereafter; three-year equity claw for up to 40% of issue; change-of-control put at 101%; issuer will be Omega US Sub, LLC, which is to be merged with and into TI Group Automotive Systems, LLC and Omega NewCo Sub Inc.; proceeds to help finance the acquisition of TI Automotive by Bain Capital LLC; Auburn Hills, Mich.-based provider of fluid storage, carrying and delivery systems to automotive manufacturers; roadshow started June 17 in New York with 1:1 meetings and group investor lunch, also investor call; 1:1s and group lunch in Boston June 18, 1:1s in New York/New Jersey area June 19, and in Los Angeles area June 22; pricing expected on June 24.

GLOBO PLC (via GLOBO MOBILE INC. subsidiary): $180 million five-year senior secured notes (anticipated ratings B2/B3); Imperial Capital LLC (sole books), ISM Capital LLP (international co-manager); Rule 144A and Regulation S without registration rights;, non-callable for the first two years after issue, and would be callable after that at par plus ¾ of the coupon, declining ratably every six months; proceeds to fund further acquisitions that support the company’s international expansion strategy in its key growth markets, repay existing debt, general corporate purposes; London-based international provider of enterprise mobility management, mobile solutions and software as a service; roadshow began June 19 in London, will include June 23 London breakfast and June 25 New York luncheon.

INTREPID AVIATION GROUP HOLDINGS, LLC: $125 million non-rated two-year senior notes; Jefferies LLC (sole books); Rule 144A and Regulation S for life; callable after one year at par plus 50% of coupon; for general corporate purposes including the purchase of aircraft; Stamford, Conn.-based commercial aircraft leasing company; roadshow through June 25; pricing June 22 week.

DOUGLAS AG €1.055 billion notes: Kirk Beauty Zero GmbH €635 million senior secured notes due 2022, non-callable for three years, Also Kirk Beauty One GmbH €420 million senior unsecured notes due 2023, non-callable for three years; Deutsche Bank (joint books, bill and deliver), Goldman Sachs, JPMorgan, UniCredit (joint books), BayernLB, CM-CIC, Commerzbank, Landesbank Baden-Wurttemberg (co's); Rule 144A and Regulation S; to help fund the buyout of the company by CVC Capital Partners from Advent International and the Kreke family; Douglas is a Germany-based specialist retailer of beauty and personal care products; roadshow June 23-25.

June 29 Week

DAE AVIATION HOLDINGS, INC. (STANDARDAERO): $485 million eight-year senior notes (Caa2/CCC); Jefferies LLC (left books), KKR Capital Markets, MCS Capital Markets (joint books); Rule 144A and Regulation S for life; non-callable for three years; to help fund the buyout of StandardAero by Veritas Capital from Dubai Aerospace Enterprise Ltd.; Scottsdale, Ariz.-based provider of aircraft engine maintenance, repair and overhaul services; roadshow through June 29, pricing thereafter.

Expected First Half 2015 Business

TRAVELPORT LUXCO: $500 million senior unsecured bridge loan, which may be replaced by or exchanged for high-yield bonds; also $2.4 billion credit facility via Deutsche Bank Securities Inc. and Morgan Stanley Senior Funding Inc. scheduled to launch at an Aug. 4 bank meeting; to refinance the first- and second-lien term loans and some of the senior floating-rate notes due 2016, 13	7/8% senior notes due 2016, 11	7/8% senior subordinated notes due 2016, 11	7/8% dollar senior subordinated notes due 2016 and 10	7/8% senior subordinated euro notes due 2016 issued by Travelport LLC and Travelport Holdings, Inc.; Atlanta-based provider of transaction processing services to the travel industry.
TTM TECHNOLOGIES, INC.: $350 million senior secured second-lien notes due 2023 (expected ratings Caa1/B-); J.P. Morgan Securities LLC, Barclays (joint), RBS Securities Inc., HSBC (co’s); Rule 144A and Regulation S; non-callable for three years (special call provision allows the issuer to redeem 10% of the notes annually at 103 during the non-call period); upon release from escrow, proceeds, along with new bank loan, will be used to fund the acquisition of Viasystems Group, Inc. and to repay debt; Costa Mesa, Calif.-based printed circuit board manufacturer; price discussions taking place in the 11s.
On The Horizon
ACTUANT ELECTRICAL: $60 million senior subordinated notes; also $150 million credit facility led by RBC Capital Markets and NXT Capital; to help fund the buyout of the company by Sentinel Capital Partners from Actuant Corp.; Actuant is a Menomonee Falls, Wis.-based provider of products for the retail do-it-yourself, marine, industrial OEM and wholesale electrical markets.
ALBEA BEAUTY HOLDINGS SA: €45 million add-on to 8¾% senior secured notes due Nov. 1, 2019 (expected ratings B2/B); BofA Merrill Lynch (joint books, bill and deliver), J.P. Morgan (joint books); Rule 144A/Regulation S; callable on Nov. 1, 2015 at 106.563; for general corporate purposes; Gennevilliers, France-based producer of plastic packaging used by the cosmetics industry; original €200 million issue priced at par in October 2012; add-on notes will be fungible with the original notes.
AMEC PLC: $1.91 billion bridge facility backing the acquisition of Baar, Switzerland-based engineering conglomerate Foster Wheeler AG, expected to close during the second half of 2014; BofA Merrill Lynch served as exclusive financial adviser to AMEC; multinational consultancy, engineering and project management company based in London.
ASCENA RETAIL GROUP INC.: Possible senior secured or unsecured notes as part of $2.4 billion financing backing the acquisition of ANN Inc., expected to close in the second half of 2015; financing includes a $1.8 billion seven-year senior secured term loan via joint bookrunners Goldman Sachs & Co. and Guggenheim Securities LLC; Ascena is a Mahwah, N.J.-based specialty women's fashion retailer; ANN is a New York-based women’s specialty retail fashion company; financing disclosed in an 8-K filed May 18.
BLACKBOARD INC.: $75 million add-on to 7¾% senior notes due Nov. 15, 2019 (Caa1/CCC+); BofA Merrill Lynch, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC (joint); callable Nov. 15, 2015 at 105.813; to help fund the acquisition of educational website Schoolwires; Blackboard is a Washington, D.C.-based provider of enterprise software applications and related services to the education industry; unofficial price talk 93; original $365 million issue priced at par in October 2013.
BUILDERS FIRSTSOURCE INC.: $750 million in unsecured notes backed by a bridge, also $1.35 billion credit facility; to help fund its acquisition of ProBuild Holdings LLC, expected to close in the second half of 2015; Citigroup and Deutsche Bank are financial advisors to Builders FirstSource; Credit Suisse is financial advisor to ProBuild; Builders FirstSource is a Dallas-based supplier and manufacturer of structural and related building products for residential new construction; ProBuild is a Denver-based supplier of lumber and building materials to professional builders and contractors.
CHARTER COMMUNICATIONS INC. $13.8 billion notes: $6 billion senior secured first-lien notes and $3.5 billion senior unsecured notes; also CCO Holdings LLC $4.3 billion senior unsecured notes; all tranches bridged; also $16.7 billion bank loans; Goldman Sachs Bank USA, Bank of America Merrill Lynch, Credit Suisse Securities (USA) LLC, UBS AG and Deutsche Bank Securities Inc. are the lead banks on the financing; to finance acquisitions of Time Warner Cable Inc. and Bright House Networks, expected to close by the end of 2015; Charter expects secured bonds and loans to have investment-grade ratings from two of three ratings agencies; combination of Charter, Time Warner Cable and Bright House will create a broadband services and technology company serving 23.9 million customers in 41 states.
CIT GROUP INC.: Up to $2 billion of new debt to fund its merger with IMB Holdco LLC, the parent company of OneWest Bank NA, a privately owned regional bank based in Pasadena, Calif.; J.P. Morgan Securities LLC is serving as financial adviser to CIT. Bank of America Merrill Lynch is representing IMB; CIT is a New York-based bank holding company.
ENTRANS INTERNATIONAL, LLC and ENTRANS INTERNATIONAL FINANCE CORP.: $250 million senior secured notes due 2020 (B2/B); Credit Suisse Securities (USA) LLC (sole); Rule 144A and Regulation S for life; callable after three years at par plus 50% of the coupon; three-year 40% equity clawback; 101% poison put; to refinance debt; Cleveland, Tenn.-based manufacturer of tanker trailers and industrial equipment; roadshow took place in late 2014; price talk 8¾% to 9%, including OID.
FRONTIER COMMUNICATIONS CORP.: Debt and/or equity, expected to be comprised mostly of unsecured debt, to fund the acquisition of certain wireline operations from Verizon Communications Inc., expected to close in the first half of 2016; company has received two bridge loans totaling $11.594 billion, via J.P. Morgan Securities LLC, Bank of America Merrill Lynch and Citigroup Global Markets Inc., to back the financing; Frontier is a Stamford, Conn.-based wireline telecommunications provider.
MEDICAL PROPERTIES TRUST, INC. (Ba1/BBB-): Possible euro-denominated notes offer; Goldman Sachs, Credit Agricole CIB, Credit Suisse are the arrangers; Birmingham, Ala.-based real estate investment trust; deal pending market conditions.
OWENS-ILLINOIS INC.: $2.25 billion debt financing coming in bonds, with expected blended rate of approximately 5%, and loans with expected blended rate of approximately 4% (initial commitment is for term loans, and a bridge loan to be replaced with bonds); Deutsche Bank Securities Inc. is the lead bank on the financing; to fund the acquisition of Vitro, SAB de CV, expected to close by June 2016; Owens-Illinois is a Perrysburg, Ohio-based glass container manufacturer.
SS&C TECHNOLOGIES HOLDINGS INC.: $500 million senior unsecured notes via Morgan Stanley Senior Funding Inc. (left lead) and Deutsche Bank Securities Inc.; proceeds (along with $2.63 billion senior secured credit facility via Deutsche Bank (left lead) and Morgan Stanley, consisting of $150 million revolver, a $2.08 billion term loan B-1 and a $400 million term loan B-2) to help fund its $2.7 billion acquisition of Advent Software Inc. and refinance existing debt at both companies; backing the notes is a commitment for a $500 million senior unsecured bridge loan; other funds for the transaction to come from cash on hand and about $400 million of equity, backed by a commitment for a $400 million senior secured bridge loan; Advent acquisition (equating to $44.25 per share plus the assumption of debt) expected to close in the second quarter; SS&C is a Windsor, Conn.-based provider of financial services software and software-enabled services. Advent is a San Francisco-based provider of software and services for the investment management industry.
WIDEOPENWEST FINANCE LLC: Possible new senior notes offer (credit amendment would clear way for new notes); company is marketing a $1.411 billion term loan repricing launching May 7 via Credit Suisse Securities (USA) LLC; Denver-based provider of data, video and telephony services.
Roadshows
Started June 9: MY ALARM CENTER $265 million; Imperial.
Started June 12 week: GEORGIA RENEWABLE POWER $225 million; Seaport Global.
Started June 15: NORD ANGLIA CHF 235 million; Credit Suisse, Goldman Sachs, Deutsche Bank, HSBC.
June 18-24: TI AUTOMOTIVE $550 million: Citigroup, JPMorgan, Barclays, Mizuho, Goldman Sachs, Nomura, RBC, UBS.
June 19-June 25: GLOBO PLC (GLOBO MOBILE INC.) $180 million; Imperial.
Pricing June 22 week: INTREPID AVIATION $125 million; Jefferies.
June 23-25: DOUGLAS €1.055 billion; Deutsche Bank, Goldman Sachs, JPMorgan, UniCredit.
Through June 29: STANDARDAERO $485 million; Jefferies, KKR, MCS.

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