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Published on 8/8/2003 in the Prospect News High Yield Daily.

High Yield Calendar

Total amount of dollar-denominated high-yield bond offerings being marketed: $4.605 billion

WEEK OF AUGUST 11

MONITRONICS INTERNATIONAL INC.: $200 million senior subordinated notes due 2010 (B3/B-); Banc of America Securities (bookrunner); Fleet Securities (co); Rule 144A; non-callable for four years; also $325 million credit facility; to repay bank debt; Dallas provider of monitored security alarm systems; roadshow started Aug. 1; pricing early in Aug. 11 week.

WILLIAMS SCOTSMAN INC.: $150 million senior secured second lien notes due 2008 (B2/B+); Deutsche Bank Securities, Banc of America Securities, CIBC World Markets (joint), Fleet Securities (co); Rule 144A; non-callable for three years; to repay bank debt; mobile office and storage space company based in Baltimore; roadshow Aug. 6-12.

CHARTER COMMUNICATIONS, INC.: $1.7 billion senior notes due 2013 (CCC-); 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.

ALASKA COMMUNICATIONS SYSTEMS HOLDINGS: $175 million senior notes due 2011 (expected ratings B2/B+); JP Morgan, CIBC World Markets, Citigroup, Jefferies & Co.; Raymond James; Rule 144A; non-callable for four years; to repay bank debt; Alaskan telecom; roadshow started Aug. 8; pricing Aug. 13 or 14.

NEVADA POWER CO.: $350 million general and refunding mortgage notes series G due 2013 (Ba2/BB); Merrill Lynch (books), Lehman Brothers (co); Rule 144A; non-callable for five years; to repay maturing debt; Las Vegas-based regulated public utility, a subsidiary of Sierra Pacific Resources; brief roadshow starts Aug. 12; pricing expected during Aug. 11 week.

MARACAY HOMES ARIZONA I, LLC: $25 million senior subordinated notes due 2010 (non-rated); Friedman Billings Ramsey; Regulation D; non-callable for three years; equity clawback for three years at 35%; to repay debt; homebuilder; roadshow started Aug. 4; expected to price mid-to-late Aug. 11 week.

SHERIDAN GROUP INC.: $100 million senior secured notes due 2011 (B1/B); Jefferies & Co.; non-callable for four years; to help fund LBO by Bruckmann, Rosser, Sherrill & Co. and Jefferies Capital Partners and for working capital; Hunt Valley, Md. publishing company; roadshow Aug. 6-15.

DEX MEDIA WEST LLC: $1.315 billion notes in two tranches: $535 million senior notes due 2010, non-callable for four years (B2/B) and $780 million senior subordinated notes due 2013, non-callable for five years (B3/B); JP Morgan, Banc of America Securities, Deutsche Bank Securities, Lehman Brothers and Wachovia Securities (joint); Rule 144A/Regulation S; to fund acquisition of second part of Qwest Dex's directory business; Denver-based yellow pages publisher; roadshow started Aug. 8; pricing Aug. 14.

OXFORD AUTOMOTIVE INC.: $240 million senior secured second lien notes due 2011 (B3/B-); Lehman Brothers, Credit Suisse First Boston (joint), Comerica; Rule 144A; make-whole call for four years, then callable at a premium; to repay debt and for general corporate purposes; Troy, Mich. metal-formed assemblies supplier for automotive industry; roadshow started Aug. 7; pricing late Aug. 11 week.

PGN EURO FINANCE 2003 LTD.: $200 million notes due 2013 (B-); Credit Suisse First Boston; (sub of PT Perusahaan Gas Negara); to fund gas pipeline project; price guidance 7¾% area; pricing expected week of Aug. 11.

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, to repay debt and for general corporate purposes; New York City-area supermarket chain.

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.

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.

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

Started Aug. 1: MONITRONICS INTERNATIONAL INC. $200 million; Banc of America Securities; Rule 144A; 7NC4

Started Aug. 4: MARACAY HOMES ARIZONA I, LLC $25 million; Friedman Billings Ramsey; Regulation D; 7NC3

Started Aug. 6: SHERIDAN GROUP INC. $100 million; Jefferies & Co.; 8NC4

Aug. 6-12: WILLIAMS SCOTSMAN INC. $150 million; Deutsche Bank Securities, Banc of America Securities, CIBC World Markets; Rule 144A; 5NC3

Started Aug. 7: OXFORD AUTOMOTIVE INC. $240 million; Lehman Brothers, Credit Suisse First Boston; Rule 144A; 8NC4

Started Aug. 8: ALASKA COMMUNICATIONS SYSTEMS HOLDINGS $175 million; JP Morgan; Rule 144A; 8NC4

Started Aug. 8: DEX MEDIA WEST LLC $1.315 billion; JP Morgan, Banc of America Securities, Deutsche Bank Securities, Lehman Brothers, Wachovia Securities; Rule 144A/Regulation S; 8NC4 and 10NC5

Starts Aug. 12: NEVADA POWER CO. $350 million; Merrill Lynch; Rule 144A; 10NC5

RECENT SHELF FILINGS WITH THE SEC:

DENBURY RESOURCES INC. (Symbol: DNR): $150 million shelf filed Aug. 5 for debt securities, common stock, preferred stock, depositary shares and warrants; securities may be issued as convertibles; includes $97 million previously registered but unsold; also $200 million of stock to be sold by selling shareholders; Plano, Tex. oil and gas company will use proceeds to repay bank debt and for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/945764/000089907803000424/denburys3703.txt


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