High Yield Calendar: $2.34 billion deals being marketed

May 21 week

CARROLS RESTAURANT GROUP, INC. $140 million senior secured second-lien notes due 2020; Wells Fargo Securities LLC (left books), Jefferies & Co. (joint books), Raymond James (co); Rule 144A with registration rights; non-callable for four years; to repay borrowings under the senior credit facility and for general corporate purposes; Syracuse, N.Y.-based operator of quick-casual and quick-service restaurants; pricing middle of May 21 week.

UNIVAR INC.: $750 million senior notes due 2019; Goldman Sachs & Co., Bank of America Merrill Lynch, Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, Deutsche Bank Securities Inc.; non-callable for three years; also new $750 million bank loan; to fund a distribution to shareholders and refinance debt; Redmond, Wash.-based distributor of industrial and specialty chemicals; roadshow started May 16; pricing middle of May 21 week.

ROOFING SUPPLY GROUP LLC: $200 million senior notes due 2020; Goldman Sachs & Co., Deutsche Bank Securities Inc., UBS Investment Bank, Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. (joint); non-callable for three years; also $465 million credit facility; to help fund the purchase of the company by Clayton, Dubilier & Rice LLC from the Sterling Group; Dallas-based wholesale distributor of roofing supplies and related materials; pricing expected during May 21 week.

GLOBAL BRASS & COPPER HOLDINGS INC.: $375 million senior secured notes due 2019; Goldman Sachs & Co., Morgan Stanley & Co. LLC (joint); non-callable for three years; to refinance the existing term loan and pay a dividend; Schaumburg, Ill.-based converter, fabricator, distributor and processor of specialized copper and brass products; pricing expected middle of May 21 week.

WOLVERINE HEALTHCARE ANALYTICS, INC. to be merged with and into THOMSON REUTERS (HEALTHCARE) INC.: $325 million senior notes due 2020 (expected ratings Caa1/CCC+); J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Morgan Stanley & Co. LLC, UBS Investment Bank; Rule 144A and Regulation S with registration rights; non-callable for four years; to help fund the buyout of the company by Veritas Capital for $1.25 billion in cash from Thomson Reuters; provider of data, analytics and performance benchmarking services to hospitals, health systems, employers, health plans, government agencies and health care professionals; roadshow started May 21; pricing expected May 25; early guidance 9½% to 9¾%; Thursday or Friday.

MISYS PLC: $615 million seven-year second-lien loan; Bank of America Merrill Lynch (left lead bookrunner), Credit Suisse Securities (USA) LLC, Jefferies & Co. Inc., Deutsche Bank Securities Inc. (joint); callable after three years at par plus 75% of coupon; features standard incurrence-based high-yield covenants; to help fund the buyout of the company by Vista Equity Partners; London-based application software and services provider for the financial services industry; price talk 12% yield including a discount; launched May 22; commitments due 5 p.m. ET May 23; pricing May 23.

QR ENERGY, LP and QRE FINANCE CORP.: $300 million senior notes due 2020 (Caa1); Citigroup (left books), Barclays Capital, Credit Agricole CIB, RBC Capital Markets, RBS Securities Inc., Wells Fargo Securities LLC (joint books), Bank of America Merrill Lynch, BMO, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Scotia Capital, BBVA, Capital One, Comerica, TD Securities, Mitsubishi UFJ Securities, US Bancorp (co's); Rule 144A and Regulation S with registration rights; non-callable for four years; 101% poison put; repay debt under the revolver; Houston-based upstream master limited partnership focused on the exploitation of onshore oil and gas field.

May 28 week

RIVERS PITTSBURGH BORROWER LP (RIVERS CASINO PITTSBURGH): $300 million senior secured second-lien notes (/B/); Goldman Sachs & Co. (left books), Credit Agricole CIB, Wells Fargo Securities LLC (joint books); Rule 144A and Regulation S for life; non-callable for three years; proceeds, along with about $65 million of cash on hand, to repay $302 million first-lien debt and about $184 million of senior preferred PIK interests; Pittsburgh-based casino operator; started May 22; pricing mid-to-late May 28 week.

Expected May business

MEDIA GENERAL INC.: $225 million minimum senior notes; J.P. Morgan Securities LLC, Bank of America Merrill Lynch (joint); $190 million to be used to repay amounts outstanding under the existing credit facility and a to-be-determined amount will be used to fund a liquidity account (term loan maturity extension announced on March 20 was conditioned upon the company's ability to raise $225 million in the high-yield market by May 25, 2012); Richmond, Va.-based diversified media company.

OPI INTERNATIONAL: $160 million first-lien senior secured notes due 2017; Global Hunter Securities; non-callable for three years; to help fund the acquisition of offshore construction vessels and refinance debt; Houston-based services provider to the offshore oil and gas industry; expected May business.

ZAYO GROUP LLC $1.25 billion: $750 million senior secured notes and $500 million senior unsecured notes; also $1.75 billion credit facility; Morgan Stanley Senior Funding Inc. and Barclays Capital Inc. (joint), SunTrust Robinson Humphrey Inc., UBS Securities LLC, RBC Capital Markets LLC, Goldman Sachs & Co.; to fund the acquisition of AboveNet Inc., expected to close by the middle of 2012; financing also includes $290 million of equity from GTCR and Charlesbank Capital Partners and cash on hand; Zayo is a Louisville, Colo.-based provider of fiber-based bandwidth infrastructure and network-neutral colocation and interconnection services.

AGS HOLDINGS, LLC and AGS FINANCING CORP. (AMERICAN GAMING SYSTEMS INC.): $150 million senior secured notes due 2017; Credit Suisse (books); Rule 144A for life; non-callable for 2.5 years; three-year 35% equity clawback; 101% poison put; to refinance existing debt and fund the buyout of the Bluberi Gaming Technologies development agreement; Henderson, Nev.-based provider of equipment and services to the gaming industry.

ALIMAK HEK INC.: Possible notes offering; SEB Enskilda, Handelsbanken; Stockholm-based manufacturer of industrial lifts.

On the Horizon

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.

DAVITA INC.: $3.8 billion secured and unsecured debt financing being led by J.P. Morgan Securities LLC; to fund acquisition of HealthCare Partners for approximately $4.42 billion, expected to close early in the fourth quarter of 2012; DaVita is a Denver-based provider of kidney care services.

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; Energy Transfer is a Dallas-based oil and gas pipeline company.

FOUR SEASONS HEALTH CARE: £525 million high-yield bonds; Barclays plc, Goldman Sachs International; to help fund the £825 million LBO of the company by Terra Firma Capital Partners Ltd., expected to close during the first half of 2012; Wilmslow, England-based care home operator.

FRESENIUS SE & CO. KGAA: Approximately €2.1 billion in bonds and €2.7 billion credit facility; Deutsche Bank, J.P. Morgan, Societe Generale, Credit Suisse and UniCredit; to fund the acquisition of Rhon-Klinikum AG, expected to close during the third quarter of 2012; financing also includes approximately €1 billion through equity instruments; Fresenius is a Bad Homburg, Germany-based provider of dialysis services and products.

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. LLC, 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.

HOLOGIC INC.: $500 million unsecured notes and $3.3 billion credit facility led by Goldman Sachs & Co.; to fund the $3.7 billion, $82.75 per share, acquisition of Gen-Probe Inc., expected to close during the second half of 2012; Hologic is a Bedford, Mass.-based developer medical diagnostic systems developer and manufacturer; Gen-Probe is a San Diego-based molecular diagnostics developer and manufacturer.

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.

P.F. CHANG CHINA BISTRO INC.: New high-yield bonds and credit facility to help fund the approximately $1.1 billion LBO by Centerbridge Partners LP, which is expected to begin a tender for shares no later than May 15, 2012 (transaction expected to close in the third quarter of 2012); Deutsche Bank Securities Inc. and Wells Fargo Securities LLC are leading the financing; Scottsdale, Ariz.-based owner and operator of two restaurant concepts in the Asian niche.

Roadshows

Started May 16: UNIVAR $750 million; Goldman Sachs, Bank of America Merrill Lynch, Morgan Stanley, Wells Fargo, Deutsche Bank.

Pricing May 21 week: ROOFING SUPPLY $200 million; Goldman Sachs, Deutsche Bank, UBS, Credit Suisse, Citigroup.

Pricing middle of May 21 week: CARROLS RESTAURANT GROUP $140 million; Wells Fargo, Jefferies.

Pricing middle of May 21 week: GLOBAL BRASS & COPPER $375 million; Goldman Sachs, Morgan Stanley.

Started May 21: WOLVERINE HEALTHCARE ANALYTICS; JPMorgan, Bank of America Merrill Lynch, Morgan Stanley, UBS.

Started May 22: RIVERS CASINO PITTSBURGH $300 million; Goldman Sachs, Credit Agricole, Wells Fargo.

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