High Yield Calendar: $420 million deals being marketed

April 16 week

PHYSIOTHERAPY ASSOCIATES: $210 million senior notes due 2019 (B3/B-); Jefferies & Co., RBC Capital Markets (joint); Rule 144A for life; callable after three years at par plus ¾ coupon; also $125 million credit facility; to help fund the buyout of the company by Court Square Capital; Exton, Pa.-based provider of outpatient rehabilitation; roadshow started April 10 and concludes late in the April 16 week.

CARMIKE CINEMAS, INC.: $210 million senior secured notes due 2019 (B2/B); Macquarie Capital; Rule 144A with registration rights; non-callable for three years; to retire Carmike's existing term loan, with any remaining proceeds for working capital and other general corporate purposes; Columbus, Ga.-based cinema operator; roadshow starts April 16; pricing late April 16 week.

LANDRY'S INC.: Expected $400 million eight-year senior notes (removal of $200 million term loan A from the capital structure increased the senior unsecured notes carve-out to $400 million from $200 million); Jefferies & Co.; non-callable for four years; also $1.2 billion bank debt; to refinance about $331 million bank debt at Landry's, about $208 million bank debt at Morton's Restaurant Group Inc. and refinance other debt; Houston-based full-service restaurant, hospitality and entertainment company; launching April 19 week.

On the Horizon

ACCO BRANDS CORP.: $270 million senior notes and $920 million credit facility; Barclays Capital Inc., Bank of America Merrill Lynch and BMO Capital Markets Corp.; to fund its merger with MeadWestvaco's office supplies business, to repay ACCO's 10 5/8% senior secured notes and for ongoing working capital; ACCO Brands is a Lincolnshire, Ill.-based office supply manufacturer; merger expected to close during the first half of 2012.

CAPTAIN BIDCO SAS (ASCOMETAL): €300 million senior secured notes due 2020 (expected ratings B3/B-); Bank of America Merrill Lynch (bill and deliver, joint books), Morgan Stanley (joint books); Rule 144A and Regulation S for life; non-callable for four years; 101% poison put; to refinance debt used to acquire Ascometal; Courbevoie, France, steel producer.

CKX ENTERTAINMENT, INC.: $360 million senior secured second-lien notes due 2019 (/B-/); Goldman Sachs & Co. (left books), Macquarie Group Ltd. (joint books); Rule 144A and Regulation S; non-callable for four years; to fund the purchase of common stock and repay existing credit facility; New York City-based owner and developer of entertainment content; possible business for the first quarter of 2012.

CONSOLIDATED COMMUNICATIONS HOLDINGS INC.: $350 million senior notes; to take out bridge loan backing the acquisition of Roseville, Calif.-based communications services provider SureWest Communications; Morgan Stanley Senior Funding Inc. is leading the debt financing; Mattoon, Ill.-based communications company; acquisition expected to close in the fourth quarter of 2012.

CREATIVE CASINOS, INC.: $355 million senior secured notes due 2019 (expected ratings Caa1/CCC+), decreased from $365 million, callable in three years at par plus ¾ coupon (call protection decreased from four years), price talk 12½% area; Jefferies & Co. Inc., Morgan Stanley & Co. LLC, Capital One Southcoast (joint) also $90 million 7.5-year senior redeemable perpetual preferred stock, non-callable for two years, decreased from $103.093 million; Jefferies, Morgan Stanley (joint); Rule 144A and Regulation S with registration rights; to fund construction of a new casino and hotel located in Lake Charles, La.; Las Vegas-based gaming, lodging and entertainment company (previous overall deal-size was $468.1 million).

ENERGY TRANSFER EQUITY, LP: $3.2 billion high-yield bonds to help complete the $7.9 billion merger of Energy Transfer and Southern Union Co., including repayment of $3.7 billion of Southern Union debt, expected to close in the first quarter of 2012; Energy Transfer is a Dallas-based oil and gas pipeline company.

GLOBALIVE WIRELESS MANAGEMENT CORP.: Up to $1 billion equivalent in U.S. dollar- and Canadian dollar-denominated notes; Credit Suisse Securities (USA) LLC, Morgan Stanley & Co., BMO Capital Markets Corp.; Rule 144A; to fund expansion of its wireless network and for general corporate purposes; Toronto-based wireless communications services provider; expected during first quarter of 2012.

GREENFIELD ETHANOL INC.: C$175 million of five-year senior second-lien notes (/B+//DBRS: B); Scotia Capital Inc. (lead); Macquarie Capital Markets Canada Ltd., Societe Generale (Canada) and TD Securities Inc. (co-managers); non-callable for three years, 101% change-of-control put; equity clawback for up to 35% in first three years; Canada call at 50 bps over Canadian government benchmark; guarantors GreenField Ethanol (Johnstown) Inc.; GreenField Ethanol (Hensall) Inc.; GreenField Hensall LP; GreenField Hensall GP Inc.; Pharmco Products Inc.; Aaper Alcohol and Chemical Co., Aaper Holdings Inc.; GreenField Ethanol of Quebec Inc. and all future restricted subsidiaries of GreenField.; proceeds to repay debt, to terminate existing interest rate swap agreements and for general corporate purposes; Ontario-based GreenField Ethanol is Canada's largest ethanol company.

M&G FINANCE CORP.: $200 million to $300 million senior secured notes due 2019 (expected B3//BB), downsized from $500 million; J.P. Morgan Securities LLC (sole); Rule 144A and Regulation S for life; non-callable (call protection increased from four years); to finance construction of new PET and PTA production facilities, pay back intercompany debt and fund working capital; Houston-based Mossi & Ghisolfi (M&G) produces polyethylene terephthalate (PET) resin for packaging applications; price talk 10% coupon to yield 12% at an issue price of approximately 90.00.

NAL OIL & GAS: C$150 million to C$250 million notes; RBC Capital Markets, BMO Nesbitt Burns; Calgary, Alta., trust acquires interests in Canada's upstream conventional oil and gas industry.

PENN VIRGINIA RESOURCE PARTNERS LP: $220 million senior notes, backed by a bridge loan led by RBC; proceeds will be used, along with equity, to fund the acquisition of Chief Gathering LLC from Chief E&D Holdings LP for $800 million in cash and $200 million of a new class of limited partner interests; Penn Virginia is a Radnor, Pa.-based owner and manager of coal and natural resource properties, and midstream natural gas gathering and processing businesses.

TRINSEO MATERIALS OPERATING SCA: $450 million six-year senior notes (B3/B), non-callable for three years (structure changed from seven-year non-call-four); Barclays Capital Inc. (left lead), Deutsche Bank Securities Inc., BMO Securities, Citigroup Global Markets Inc., Goldman Sachs & Co., HSBC; Rule 144A and Regulation S with registration rights; non-callable for four years; to repay bank debt and for general corporate purposes; diversified chemical company; price talk 12¼% area, including about 3 points of OID; roadshow was in late November 2011; likely business for the first quarter of 2012.

WII COMPONENTS, INC.: New subordinated notes and new credit facility; to fund a tender offer and consent solicitation for its $105.85 million of 10% senior notes due 2012, consent deadline July 7, 2011; St. Cloud, Minn., cabinet manufacturer.

Roadshows

Started April 10: PHYSIOTHERAPY ASSOCIATES $210 million; Jefferies, RBC

Starts April 16: CARMIKE CINEMAS, INC. $210 million; Macquarie.

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