High Yield Calendar

Total amount of dollar-denominated high-yield bond offerings being marketed: $6.333 billion

WEEK OF JUNE 16

XEROX CORP. $1 billion senior notes in two tranches, with sizes to be determined (B1/B+) due 2010, with make-whole call, price talk 7¼% area, and 2013, non-callable for five years, price talk 50 basis points behind seven-year tranche; Deutsche Bank Securities, Citigroup, Goldman Sachs, JP Morgan, Merrill Lynch, UBS Investment Bank (books), Danske Markets, Credit Suisse First Boston, Fleet Securities, PNC Capital Markets; public offering; also 40 million common shares, $650 million mandatory convertible preferreds; $1 billion credit facility; to repay bank debt; pricing Thursday afternoon.

http://www.sec.gov/Archives/edgar/data/108772/000119312503009460/d424b5.htm

PSYCHIATRIC SOLUTIONS, INC.: $150 million senior subordinated notes due 2013 (B3/B-); Lehman Brothers, Merrill Lynch (joint); Rule 144A; non-callable for five years; to fund acquisition of Ramsay Youth Services, Inc., to refinance debt and repay Ramsay debt.; Franklin, Tenn.-based company; price talk 10¾% area; pricing Friday.

GERDAU AMERISTEEL CORP.: $400 million senior notes due 2011 (B2/B+); JP Morgan, Banc of America Securities (joint), CIBC World Markets (co); Rule 144A; non-callable for four years; also $350 million credit facility; to repay debt; Toronto minimill steel producer; roadshow June 10-19.

ARCH WESTERN RESOURCES LLC: $700 million senior notes due 2013 (Ba2/BB+); Citigroup, JP Morgan, Morgan Stanley (joint); Rule 144A; non-callable for five years; to repay bank debt and general corporate purposes; St. Louis coal company; roadshow June 16-19; pricing June 19.

AMERICAN COLOR GRAPHICS INC.: $280 million senior second secured notes due 2010 (B3/B); Morgan Stanley, Banc of America Securities (joint), Credit Suisse First Boston (co); Rule 144A; to redeem 12¾% senior subordinated notes due 2005, repay credit facility, repurchase all outstanding preferred shares and cancel all outstanding options to purchase preferred stock of ACG Holdings, Inc.; firm is based in Brentwood, Tenn.; roadshow started June 13; expected to price June 19.

MOBILE MINI, INC.: $150 million of senior notes due 2013 (BB-); Deutsche Bank Securities, CIBC World Markets (joint), JP Morgan, Fleet Securities (co's); Rule 144A; non-callable for five years; to repay a portion of approximately $222 million revolver debt and pay related interest rate swap unwind fees; portable storage company based in Tempe, Ariz.; roadshow June 12-20; pricing on June 20.

DANKA BUSINESS SYSTEMS PLC: $175 million senior notes due 2010 (B2/B+); Bear Stearns; Rule 144A; to repay credit facility, to redeem zero-coupon senior subordinated notes due 2004 and for general corporate purposes; document services-provider based in St. Petersburg, Fla.; roadshow begins Wednesday or Thursday; pricing expected late in the week of June 16 or early in the week of June 23

HUNTSMAN ADVANCED MATERIALS: $345 million senior secured notes due 2008; Deutsche Bank Securities, UBS Investment Bank; Rule 144A; to repay debt and fund acquisition of Vantico SA; roadshow started June 12; pricing expected June 20.

NEW WORLD RESTAURANT GROUP, INC.: $160 million senior secured notes due 2008 (B3/B-); Jefferies & Co.; Rule 144A; to repay debt including senior secured increasing-rate notes due June 2006; Hamilton, N.J. restaurant operator; price talk 12½% plus or minus 25 basis points.

WEEK OF JUNE 23

AVIALL, INC.: $200 million; senior notes due 2011 (B1); Citigroup (books), Credit Suisse First Boston, Wachovia Securities (co-leads); Rule 144A; non-callable for four years; to redeem 14% senior notes due 2007 and reduce bank debt; Dallas provider of aftermarket supply-chain management services for aviation and marine industries; roadshow June 17-24; price June 24.

ALARIS MEDICAL INC.: $200 million senior subordinated notes due 2011 (B3/B-); Bear Stearns, Citigroup, UBS Investment Bank (joint), CIBC World Markets, Jefferies & Co. (co's); off the shelf; non-callable for four years; three year equity clawback for 35%; also new $265 million credit facility and 9.1 million common shares offering; to repurchase existing debt and general corporate purposes; San Diego company develops solutions for medication safety; roadshow June 13-25.

http://www.sec.gov/Archives/edgar/data/817161/000104746903020972/a2112641z424b2.htm

BALLY TOTAL FITNESS HOLDING CORP.: $200 million senior notes due 2011 (B1/B); Deutsche Bank Securities; non-callable for four years; to repay debt; Chicago fitness center operator; roadshow June 18-26; pricing June 26.

WORLDSPAN LP: $315 million senior notes due 2011 (B-); Lehman Brothers, Deutsche Bank Securities (joint); Rule 144A; non-callable for four years; also $150 million credit facility; to help fund the LBO from three airline owners; Atlanta travel technology resource; roadshow started June 16; expected to price mid-week during the week of June 23.

WACKENHUT CORRECTIONS CORP.: $150 million senior unsecured notes due 2013 (B1/B); BNP Paribas, Lehman Brothers (joint); Rule 144A/Regulation S; non-callable for five years; to help fund repurchase of 12 million shares of common stock from Group 4 Falck A/S and to refinance existing credit facility; Palm Beach Gardens, Fla.-based privatized correctional management services provider; roadshow starts late in week of June 16; expected to price during week of June 23.

MOBIFON HOLDINGS B.V.: $233 million senior notes due 2009 (CCC+); Goldman Sachs (books), Lazard (co); non-callable for three years; with 1.5 years of interest to be held in escrow; to repay intercompany loans from ClearWave N.V.; provider of telephone services in Romania, incorporated in the Netherlands; roadshow began June 18; pricing during the week of June 23.

RELIANT RESOURCES, INC.: $350 million senior secured notes due 2010 (B1/B); Banc of America Securities, Goldman Sachs, Deutsche Bank Securities, Barclays Capital (joint); Rule 144A; non-callable for four years; to repay debt under existing credit facility; Houston provides electricity and energy services company; expected to price mid-to-late during week of June 23.

VOUGHT AIRCRAFT INDUSTRIES, INC.: $250 million senior notes due 2011 (B); Lehman Brothers, Goldman Sachs (joint), Credit Suisse First Boston (co); Rule 144A; non-callable for four years; to fund acquisition of Aerostructures Corp., repay Aerostructures' existing credit facilities, prepay debt under Vought's credit facilities and for general corporate purposes; Dallas-based independent supplier of aerostructures; roadshow starts June 19; pricing late in the week of June 23.

DIGITALNET, INC.: $125 million senior notes due 2010 (B2/B); Banc of America Securities (books), Jefferies (co); Rule 144A; non-callable for four years; to repay bank debt; Herndon, Va. provider of information and communications technology services to U.S. military and other government agencies; roadshow starts June 19; pricing expected late in week of June 23.

JUNE BUSINESS

HEIDELBERGCEMENT AG: €500 million senior notes due 2010 (existing ratings Ba1/BB+); Deutsche Bank Securities, Citigroup, Royal Bank of Scotland (joint); Rule 144A/Regulation S; non-callable for four years; to refinance debt; premarketing began June 11; reds go out late in week of June 16, with roadshow to follow.

PHARMA SERVICES: $450 million senior subordinated notes (B3); Citigroup; also $425 million credit facility; to fund the LBO of Quintiles; Durham, N.C. provider of product development and commercial development solutions to pharmaceutical, biotechnology and medical device industries.

SECOND QUARTER

RIVERWOOD HOLDING INC./GRAPHIC PACKAGING INTERNATIONAL CORP.: $1.5 billion financing in high yield bonds and bank debt; notes via Goldman Sachs, Deutsche Bank Securities, JP Morgan (joint) credit facility lead by JPMorgan, Deutsche Bank, Goldman Sachs and Morgan Stanley (equal leads in financing), Citigroup, Credit Suisse First Boston (co's); to fund merger of Riverwood Holding Inc. and Graphic Packaging International Corp.

RESOURCE AMERICA, INC.: $30 million of senior notes due 2008; Bear Stearns and Friedman Billings Ramsey (joint); registered; callable on Aug. 1, 2006 at 106; concurrently company will offer up to $65.336 million of new notes in exchange for all outstanding 12% senior notes due 2004; Philadelphia-based oil and natural gas company.

http://www.sec.gov/archives/edgar/data/83402/000095011603001564/s3.txt

LOEWS CINEPLEX THEATRES: senior subordinated notes; Rule 144A; coming with senior credit facility and IPO; IPO via Goldman Sachs, Citigroup, Credit Suisse First Boston and Merrill Lynch; to repay debt and for general corporate purposes; motion picture exhibitor headquartered in New York City.

JULY BUSINESS

MEDCO HEALTH SOLUTIONS, INC.: $500 million senior notes due 2013; Goldman Sachs, JP Morgan, Citigroup; also $1.15 billion senior secured credit facility; public; callable; 35% equity clawback for three years; to help pay cash dividend to Merck; roadshow expected in July.

http://www.sec.gov/Archives/edgar/data/1170650/000119312503008107/ds1a.htm

ON THE HORIZON

SEMINIS INC.: $175 million (minimum) high-yield bonds; also new credit facility led by Citigroup and Bank of Montreal; part of merger agreement with Savia, SA de CV

SEAT PAGINE GIALLE: €1.2 billion bonds; to help fund €6 billion LBO by BC Partners, CVC, Investitori Associati and Permira

ROADSHOWS

June 10-19: GERDAU AMERISTEEL CORP. $400 million; JP Morgan, Banc of America Securities; Rule 144A; 8NC4

Started: DANKA BUSINESS SYSTEMS PLC $175 million; Bear Stearns; Rule 144A; 7-year maturity

June 12-20: MOBILE MINI, INC. $150 million; Deutsche Bank Securities, CIBC World Markets; Rule 144A; 10NC5

Started June 12: HUNTSMAN ADVANCED MATERIALS $345 million; Deutsche Bank Securities, UBS Investment Bank

June 13-25: ALARIS MEDICAL INC. $200 million; Bear Stearns, Citigroup, UBS Investment Bank; off-the-shelf; 8NC4

June 13-19: AMERICAN COLOR GRAPHICS INC. $280 million; Morgan Stanley, Banc of America Securities; Rule 144A; 7-year maturity

June 16-19: ARCH WESTERN RESOURCES LLC $700 million; Citigroup, JP Morgan, Morgan Stanley; Rule 144A; 10NC5

Started June 16: WORLDSPAN LP $315 million; Lehman Brothers, Deutsche Bank Securities; 8NC4

Underway June 17: RELIANT RESOURCES, INC. $350 million; Banc of America Securities, Goldman Sachs, Deutsche Bank Securities, Barclays Capital; Rule 144A; 7-year maturity

June 17-24: AVIALL, INC. $200 million; Credit Suisse First Boston, Wachovia Securities; Rule 144A; 8NC4

June 18-26: BALLY TOTAL FITNESS HOLDING CORP. $200 million; Deutsche Bank Securities; 8NC4

Expected to begin in June: HEIDELBERGCEMENT AG €500 million; Deutsche Bank Securities, Citigroup, Royal Bank of Scotland; Rule 144A/Regulation S; 7NC4

Started June 18: VOUGHT AIRCRAFT INDUSTRIES, INC. $250 million; Lehman Brothers, Goldman Sachs; Rule 144A; 8NC4

Started June 18: MOBIFON HOLDINGS B.V. $233 million; Goldman Sachs; Rule 144A; 6NC3

Starts June 19: DIGITALNET, INC. $125 million; Banc of America Securities; Rule 144A; 7NC4

Starts late in week of June 16: WACKENHUT CORRECTIONS CORP. $150 million; BNP Paribas, Lehman Brothers; Rule 144A/Regulation S; 10NC5

Starts in July: MEDCO HEALTH SOLUTIONS, INC. $500 million; Citigroup, JP Morgan, Goldman Sachs; 10-year maturity

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