High Yield Calendar

Total amount of dollar-denominated high-yield bond offerings being marketed: $7.37 billion

WEEK OF JULY 28

FHC HEALTH SYSTEMS, INC.: $250 million senior notes due 2011 (B3); Citigroup, Goldman Sachs (joint); Rule 144A; non-callable for four years; repay bank debt; behavioral health company; price talk 10¼% area.

DYNEGY INC.: $1.325 billion second priority senior secured notes in two fixed-rate tranches and one floating-rate tranche: seven-year non-call-four fixed rate notes, price talk 9½%-9¾%; 10-year non-call-five fixed rate notes, price talk 9¾%-10%; five-year non-call-three floating rate notes, price talk Libor plus 600-625 basis points; Credit Suisse First Boston (books), Banc of America Securities, Citigroup, JP Morgan, Lehman Brothers, Morgan Stanley (joint leads), ABN Amro, Banc One Capital Markets, Credit Lyonnais, Deutsche Bank Securities, SG Cowen, TD Securities (co's); Rule 144A; to fund tender for 8 1/8% notes due 2005, 6¾% notes due 2005 and 7.45% notes due 2006, also a one-time payment to ChevronTexaco; roadshow started July 28; pricing Friday morning.

ADVANSTAR COMMUNICATIONS INC.: $400 million in two tranches of second priority senior secured notes (B3/B-): fixed-rate notes due 2010, non-callable for four years, price talk 10¼%-10½%; and floating-rate notes due 2008, price talk Libor plus 700-725 basis points; Credit Suisse First Boston (books), Fleet Securities (co); Rule 144A; to repay bank debt; Boston-based business information company; roadshow started July 22; pricing mid-day Friday.

SOUTHERN STAR CENTRAL CORP.: $180 million senior secured notes due 2010 (B1/B+); Lehman Brothers; Rule 144A; non-callable for four years; to fund AIG High Star's acquisition of pipeline assets from Williams; roadshow started July 24; price talk 8% area; pricing Friday.

RIVERWOOD INTERNTATIONAL INC.: $850 million senior notes due 2011 (B2/B-), non-call-four, price talk 7¾%-8%, and senior subordinated notes due 2013 (B3/B-), non-call-five, price talk 100 basis points behind senior notes; Goldman Sachs, Deutsche Bank Securities, JP Morgan, Morgan Stanley, Credit Suisse First Boston, Citigroup (joint); Rule 144A; to repay Riverwood and Graphic Packaging debt and take out preferred stock of Graphic Packaging; roadshow started late in July 21 week; pricing Friday morning.

BSN GLASSPACK OBLIGATION: €160 million senior subordinated second lien notes due Aug. 1, 2009 (B1/B-); Citigroup, BNP Paribas (joint); Rule 144A/Regulation S (with no registration rights); to repay bank debt and fund part of tender offer; Paris, France-based manufacturer of glass bottles for wines, beers, spirits and non-alcoholic beverages; roadshow started July 15; price talk 9¼%-9 3/8%.

PANAVISION INC.: $275 million senior secured notes due 2008 (B3/B-); Credit Suisse First Boston, Bear Stearns (joint); Rule 144A; non-callable for three years; to repay debt; Woodland Hills, Calif. co.; expects to issue in early August 2003; roadshow started July 25; pricing late in week of July 28.

GRISTEDE'S FOODS, INC.: $150 million units made up of senior secured notes due 2010 with warrants for common stock (B3/B); Jefferies & Co.; Rule 144A; to fund acquisition of Kings Super Markets, repay debt and general corporate purposes; roadshow July 17 through late in July 21 week; New York City-area supermarket chain; expected to price early in week of July 28.

WEEK OF AUGUST 4

HILCORP ENERGY CO.: $350 million senior notes due 2010 (B3/B); Deutsche Bank Securities, Lehman Brothers (joint); Rule 144A; non-callable for four years; to fund acquisition of properties, acquire partner's equity interest and repay part of bank debt; privately-held Texas corporation acquires and exploits oil and gas properties; roadshow July 21-31; price talk 10% area; pricing Monday afternoon.

HAIGHTS CROSS COMMUNICATIONS: $340 million: HAIGHTS CROSS OPERATING: $260 million senior notes due 2011 (Caa1/B-) and HAIGHTS CROSS COMMUNICATIONS HOLDINGS: $80 million of senior discount notes due 2013 (Caa2/B-), five-year zero coupon; Bear Stearns; Rule 144A; to repay debt and redeem $105 million of preferred shares; White Plains, N.Y. publisher of educational and professional material; roadshow started July 23; pricing early in the week of August 4.

ARMOR HOLDINGS, INC.: $150 million senior subordinated notes due 2013; Wachovia Securities; Rule 144A/Regulation S; non-callable for five years; three-year 35% equity clawback; to fund Simula, Inc. acquisition, repay debt and for general corporate purposes, including working capital and capital expenditures; Jacksonville, Fla.-based company sells security products and services; roadshow started July 28; pricing mid-week during the week of Aug. 4.

AMSTED INDUSTRIES INC.: $275 million senior notes due 2011 (B3/B); Citigroup, Banc of America Securities; Rule 144A for life; non-callable for four years; to repay bank debt, for working capital and for general corporate purposes; Chicago-based manufacturer of components for the rail, vehicular, construction and industrial markets; roadshow July 30-Aug. 7.

CONCENTRA OPERATING CORP.: $150 million senior subordinated notes due 2010 (B3/B-); Credit Suisse First Boston, Citigroup (joint), Deutsche Bank Securities, JP Morgan (co's); Rule 144A; non-callable for four years; to repay debt; Addison, Tex provider of services designed to contain healthcare and disability costs; roadshow started July 29; pricing during the week of Aug. 4.

ARDENT HEALTH SERVICES, LLC: $150 million senior subordinated notes due 2013 (B3/B+); Banc of America Securities, UBS Investment Bank (joint), Banc One Capital Markets, Merrill Lynch (co's); Rule 144A; non-callable for five years; to repay existing debt; healthcare services provider based in Nashville, Tenn.; roadshow started July 30; pricing expected week of August 4

BIO-RAD LABORATORIES, INC.: $200 million senior subordinated notes due 2013 (B3/BB-); Goldman Sachs (books), Credit Suisse First Boston, Deutsche Bank Securities, Banc One Capital Markets, Baird (co's); Rule 144A/Regulation S; to fund tender for $88.715 million 11 5/8% senior subordinated notes due 2007 and for general corporate purposes; Hercules, Calif.-based manufacturer and distributor of life science research products and clinical diagnostics; roadshow started July 28; pricing expected during August 4 week.

TEMPUR PEDIC INC: $150 million senior subordinated notes due 2010 (B3/B-); Lehman Brothers, UBS Investment Bank (joint), Credit Suisse First Boston (co); to repay bank and mezzanine debt, and fund special dividend to shareholders; Lexington, Ky.-based mattress company; roadshow started July 29; pricing late in the week of August 4.

NORCROSS SAFETY PRODUCTS LLC: $150 million senior subordinated notes due 2011 (B3/B-); CIBC World Markets, Lehman Brothers (joint), Fleet Securities (co); Rule 144A; non-callable for four years; to refinance existing debt; Oak Brook, Ill.-based supplier of personal protection equipment; roadshow started July 29; pricing late in week of August 4.

GROUP 1 AUTOMOTIVE INC.: $150 million senior subordinated notes due 2013 (expected ratings B1/B+); Goldman Sachs; Rule 144A; T+50 make-whole call for first five years, then at premium; general corporate purposes, including the retirement of the 10 7/8% senior subordinated notes due 2009, and potential acquisitions; Houston-based auto retailer, and provider of financing and repair services; roadshow starts Aug 1; pricing Aug. 8.

WEEK OF AUGUST 11

CHARTER COMMUNICATIONS, INC.: $1.7 billion senior notes due 2013; non-callable for five years; three-year equity clawback for 35%: CHARTER COMMUNICATIONS CAPITAL CORP. I LLC: $850 million/CHARTER COMMUNICATIONS CAPITAL CORP. II LLC: $850 million; Citigroup, Banc of America Securities, JP Morgan (joint); Rule 144A; to fund tender and repay debt; St. Louis-based cable operator; roadshow Aug. 5-13.

AUGUST BUSINESS

GENCORP INC.: $175 million senior subordinated notes due 2013 (B2/B+); Deutsche Bank Securities; Rule 144A; non-callable for five years; to finance acquisition of propulsion business of Atlantic Research Corp., and to refinance existing debt; Sacramento, Calif.-based technology-based manufacturer in automotive, aerospace and defense and pharmaceutical fine chemical industries; roadshow July 28 to Aug. 6.

ON THE HORIZON

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.

MONITRONICS INTERNATIONAL INC.: $200 million senior subordinated notes; Banc of America Securities (bookrunner); Fleet Securities (co); also $325 million credit facility; to refinance debt; Dallas provider of monitored security alarm systems.

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

MEDCO HEALTH SOLUTIONS, INC.: $500 million senior notes due 2013 (Ba1/BBB); 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.

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.

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

SATELLITES MEXICANOS SA DE CV: $80 million floating-rate notes.

ROADSHOWS

Started July 17: GRISTEDE'S FOODS, INC. $150 million approximate (notes and warrants); Jefferies & Co.; 7-year maturity

Early July 21 week: HAIGHTS CROSS COMMUNICATIONS $340 million; Bear Stearns; Rule 144A; 8 and 10-year maturities

Started July 25: PANAVISION INC. $275 million; Credit Suisse First Boston, Bear Stearns; Rule 144A; 5NC3

July 28-Aug. 6: GENCORP INC. $175 million; Deutsche Bank Securities; 10NC5

Started July 28: ARMOR HOLDINGS, INC. $150 million; Wachovia Securities; Rule 144A/Regulation S; 10NC5

Started July 28: BIO-RAD LABORATORIES, INC. $200 million; Goldman Sachs; Rule 144A/Regulation S; 10-year maturity.

Starts week of July 28: VALE OVERSEAS LIMITED $300 million; Deutsche Bank Securities, Morgan Stanley; Rule 144A; 10-year maturity

Started July 29: CONCENTRA OPERATING CORP. $150 million; Credit Suisse First Boston, Citigroup; Rule 144A; 7NC4

Started July 29: TEMPUR-PEDIC INC $150 million; Lehman Brothers, UBS Investment Bank; seven-year maturity

Started July 29: NORCROSS SAFETY PRODUCTS LLC $150 million; CIBC World Markets, Lehman Brothers; Rule 144A; 8NC$

July 30-August 7: AMSTED INDUSTRIES INC. $275 million; Citigroup, Banc of America Securities; Rule 144A; 8NC4

Started July 30: ARDENT HEALTH SERVICES, LLC $150 million; Banc of America Securities, UBS Investment Bank; Rule 144A; 10NC5

Starts Aug. 1: GROUP 1 AUTOMOTIVE INC. $150 million; Goldman Sachs; Rule 144A; 10NC5

August 5-13: CHARTER COMMUNICATIONS, INC.: $1.7 billion; Citigroup, Banc of America Securities, JP Morgan; Rule 144A; 10NC5

© 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.