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Published on 10/22/2009 in the Prospect News High Yield Daily.

High Yield Calendar: $2.825 billion and €500 million deals being marketed

OCTOBER 19 WEEK

CAMPOFRIO FOOD GROUP: €500 million senior notes due 2016 (B1); Deutsche Bank, RBS; non-callable for four years; to refinance debt; Madrid, Spain-based processed meat company; roadshow started Oct. 20; price talk 8½% area; pricing Friday morning, London time.

OCTOBER 26 WEEK

UNIVERSAL CITY DEVELOPMENT PARTNERS LTD.: $625 million two-part deal: $400 million senior notes due 2015, non-callable for three years, and $225 million senior subordinated notes due 2016, non-callable for four years; J.P. Morgan Securities Inc., Bank of America Merrill Lynch, Barclays Capital Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co., Morgan Stanley & Co. Inc.; Rule 144A/Regulation S with registration rights; to refinance bank debt, fund tender for notes due 2010 and for general corporate purposes; Orlando, Fla.-based vacation destination and theme park operator; roadshow Oct. 26-29; pricing expected Oct. 30.

REYNOLDS GROUP: $1.8 billion equivalent senior secured notes due 2016, $1.1 billion, €450 million, tranche sizes subject to change; Credit Suisse; Rule 144A/Regulation S with registration rights; non-callable for three years; to fund the acquisition of Reynolds Consumer Products by SIG group, and refinance SIG's senior secured term loan; Reynolds is a Richmond, Va., manufacturer of consumer packaging and wraps; full roadshow during Oct. 19 and Oct. 26 weeks; pricing late Oct. 26 week.

GCI INC.: $400 million senior notes due 2019 (B2/existing B-); Deutsche Bank Securities Inc., Calyon Securities, Morgan Stanley & Co. Inc., RBC Securities Corp. (joint), Oppenheimer & Co., Janney Montgomery Scott (co's); Rule 144A/Regulation S with registration rights; non-callable for five years; to retire senior credit facility; Anchorage-based telecommunications services provider; roadshow Oct. 22-28.

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.

INFORMA GLOBAL MARKETS: High-yield notes (Ba2/BB), size to be determined; JPMorgan; London-based real-time capital markets information services provider; originally scheduled as early September business, pending market conditions.

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.

ROADSHOWS

Pricing Oct. 26: UNIVERSAL CITY DEVELOPMENT PARTNERS LTD. $625 million; J.P. Morgan Securities Inc., Bank of America Merrill Lynch, Barclays Capital Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co., Morgan Stanley & Co. Inc.

Oct. 19 and Oct. 26 weeks: REYNOLDS GROUP $1.8 billion equivalent; Credit Suisse

Oct. 22-28: GCI INC. $400 million; Deutsche Bank Securities Inc., Calyon Securities, Morgan Stanley & Co. Inc., RBC Securities Corp.


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