High Yield Calendar: $1.94 billion deals being marketed

January 8 Week

MOSS CREEK RESOURCES HOLDINGS, INC.: $650 million eight-year senior notes (B3/B+); BMO Capital Markets LLC (left books), Wells Fargo Securities LLC, Citigroup Global Markets Inc., Capital One (joint books); Rule 144A for life; callable after three years at par plus 75% of coupon; three-year 35% equity clawback at par plus coupon; 101% poison put; to pay off term loan and repay a portion of the revolver, with any remaining proceeds for general corporate purposes; independent oil and gas exploitation, production and acquisition company; price talk 7¼% to 7½%; books close noon ET on Friday, pricing thereafter.

CSC HOLDINGS, LLC: $500 million senior guaranteed notes due January 2028 (existing ratings Ba1/BB); Goldman Sachs & Co. (left books), J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Credit Agricole CIB (joint books); Rule 144A and Regulation S for life; non-callable for five years; proceeds, together with proceeds from the 2018 term loans, $500 million of additional borrowings under the revolver and cash on the balance sheet, to fund a $1.5 billion dividend to Cablevision, the direct parent of the issuer, which will use those proceeds to fund a dividend to its parent, Altice USA, Inc., which will in turn use those proceeds to fund a dividend to its stockholders immediately prior to and in connection with the separation of Altice USA from Altice NV; New York-based cable operator; investor call 11 a.m. ET on Wednesday; pricing on Friday.

January 15 Week

IRB HOLDING CORP., also known as ARBY'S RESTAURANT GROUP, INC.: $485 million senior notes due 2026; Barclays (left books), BofA Merrill Lynch, Credit Suisse, Morgan Stanley, Wells Fargo (joint books); Rule 144A and Regulation S for life; callable after three years at par plus 50% of coupon; three-year 40% equity clawback at par plus coupon; 101 poison put; proceeds, along with $1.58 billion term loan, to help fund Arby's pending acquisition of Buffalo Wild Wings Inc.; Arby’s is an Atlanta-based quick-service restaurant chain; roadshow Jan. 16-18, pricing thereafter.

RADIATE HOLCO, LLC and RADIATE FINANCE, INC. (RCN GRANDE): $300 million five-year senior notes; Credit Suisse (lead books), UBS, Morgan Stanley, Nomura, Goldman Sachs, BofA Merrill Lynch (joint books); Rule 144A and Regulation S for life; callable after two years at par plus 50% of coupon; two-year 40% equity clawback at par plus coupon; 101% poison put; to finance the acquisition of WaveDivision Holdings; Princeton, NJ-based cable, Internet and telecom services provider; investor call Jan. 12; pricing Jan. 16 week.

Expected January Business

MEREDITH CORP.: $1.2 billion senior notes; Credit Suisse Securities (USA) LLC; to help fund its purchase of Time Inc., a New York-based media company, and refinance existing debt; Meredith is a Des Moines-based media and marketing company; expected to launch during the second week of January.

On The Horizon

AKER SOLUTIONS ASA: Possible krone-denominated 4.5-year senior notes; DNB Markets, Nordea, SEB and Swedbank; for general corporate purposes; Lysaker, Norway, company is a provider of products, systems and services to the oil and gas industry; investor meetings scheduled to start Jan. 8.

CENTENE CORP.: $1.6 billion bonds; Barclays to be involved; $2.3 billion of new equity, including share consideration, to fund its planned $3.75 billion acquisition of Fidelis Care; Centene is a St. Louis-based managed care and specialty health care services provider; expected during first quarter of 2018.

MCDERMOTT INTERNATIONAL INC.: $1.5 billion senior notes backed by a bridge loan; Barclays (administrative agent on the bridge), Credit Agricole, Goldman Sachs; also $4.45 billion credit facilities; debt is coming in connection with the merger of McDermott and CB&I, expected to close in the second quarter of 2018; McDermott is a Houston-based engineering and design company, CB&I is a Netherlands-based provider of technology and infrastructure for the energy industry (combined company will be based in Houston); disclosed in 8-K document filed on Dec. 18 with the Securities and Exchange Commission.

SINCLAIR BROADCAST GROUP INC.: Commitment for $5.6 billion in debt financing, including a $785 million bridge loan, to help fund acquisition of Tribune Media Co.; expected 50:50 mix of fixed- and floating-rate debt; JPMorgan Chase Bank, RBC and Deutsche Bank Securities Inc. leads; Hunt Valley, Md.-based television broadcasting company.

Roadshows

Pricing Jan. 8 week: MOSS CREEK RESOURCES $650 million; BMO, Wells Fargo, Citigroup, Capital One

Pricing Jan. 12: CSC HOLDINGS $500 million; Goldman Sachs, JPMorgan, BNP Paribas, Credit Agricole

Jan. 16-19: ARBY'S $485 million; Barclays, BofA Merrill Lynch, Credit Suisse, Morgan Stanley, Wells Fargo.

Pricing Jan. 15 week: RCN GRANDE $300 million; Credit Suisse, UBS, Morgan Stanley, Nomura, Goldman Sachs, BofA Merrill Lynch.

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