High Yield Calendar: $2.725 billion deals being marketed

JUNE 14 WEEK

TITLEMAX: $225 million senior secured first-lien notes due 2015 (B2/B+); Jefferies & Co. (books), Stephens Inc. (co); Rule 144A with registration rights; non-callable for three years; to repay existing debt; Savannah, Ga.-based auto title lending company; roadshow June 7-17.

DAY TO DAY

CEDAR FAIR, LP/CANADA'S WONDERLAND CO./MAGNUM MANAGEMENT CORP.: $500 million senior unsecured notes due 2020 (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.

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.

CITGO PETROLEUM CORP. $1.5 billion senior secured notes (Ba2/BB+/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.

ON THE HORIZON

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: Up to $1.9 billion of new senior notes in connection with the formation of GenOn through the merger of Mirant Corp. and RRI Energy Inc., expected to close before 2010 year end; to repay approximately $1.2 billion Mirant debt and $650 million RPI debt; 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 health care 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.

MICHAEL FOODS INC.: $430 million senior unsecured notes; to help finance the acquisition of the company by GS Capital Partners from Thomas H. Lee Partners LP.; financing also includes $865 million credit facility via Bank of America Merrill Lynch, Goldman Sachs & Co. and Barclays Capital Inc., to launch at a June 14 bank meeting; Minnetonka, Minn.-based food products and services company.

VERTAFORE INC.: New high yield bonds and syndicated loans; Credit Suisse, Bank of American Merrill Lynch, Barclays Capital; to fund $1.4 billion LBO of the company by TPG Capital from Hellman & Friedman and JMI Equity, expected to close in the third quarter of 2010; Bothell, Wash.-based technology services provider to the insurance sector.

ROADSHOWS

June 7-17: TITLEMAX $225 million; Jefferies & Co.

© 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.