High Yield Calendar

Total amount of high-yield bond offerings being marketed: $1.745 billion and €325 million

WEEK OF OCT. 4

B&G FOODS HOLDINGS CORP.: $200 million senior notes due 2011 (B2/B); Lehman Brothers (books), RBC Capital Markets, Credit Suisse First Boston, BNY Capital Markets (co's); registered; non-callable for four years; bonds coming concurrent with and contingent upon $340 million (approximate) Enhanced Income Securities offering (see below) and $30 million revolver; to fund recapitalization, repay $150 million of bank debt, retire $220 million 9 5/8% senior subordinated notes due 2007, repurchase $119 million preferred stock, repurchase options, warrants and class B common stock from existing investors, Bruckman, Rosser, Sherrill, Canterbury Mezzanine Capital and the CIT Group; Parsippany, N.J. based food company; price talk 8%-8¼%.

OSKAR HOLDINGS NV: €325 million senior secured notes due 2011 (B1/B); JP Morgan, ABN Amro, UBS Investment Bank; Rule 144A/Regulation S (no registration rights); to repay bank debt; mobile telecommunications company, previously Cesky Mobil, a subsidiary of Montreal-based Telesystem International Wireless Inc; price talk 7½% area; pricing Wednesday afternoon.

AIRGATE PCS, INC.: $175 million first priority senior secured floating-rate notes due 2011 (B2/CCC+); Banc of America Securities, Credit Suisse First Boston (joint); Rule 144A/Regulation S; non-callable for two years; secured on a first priority basis by liens on substantially all of AirGate's assets, with certain exceptions, and guaranteed on a senior secured basis by each of its subsidiaries; to repay $134.4 million senior credit facility, redeem $1.8 million remaining 13½% senior subordinated discount notes due 2009 general corporate purposes; Atlanta-based PCS Affiliate of Sprint; price talk three-month Libor plus 375 basis points; pricing expected Thursday.

SOUTHERN STATES COOPERATIVE INC.: $100 million senior notes due 2012 (B3/B); Wachovia Securities; Rule 144A; non-callable for four years; to refinance debt; Richmond, Va.-based supplier of agricultural products and services; roadshow started Sept. 30; pricing expected Oct. 8.

HARVEST OPERATIONS CORP. (HARVEST ENERGY TRUST): $200 million senior notes due 2011 (B3/B-); Morgan Stanley; Rule 144A; non-callable for four years; to repay bridge facility in full, partially repay revolver; Calgary, Alta.-based Harvest Energy Trust is an energy royalty trust that acquires and manages oil and gas properties; roadshow Oct. 4 week; pricing late in Oct. 4 week.

WEEK OF OCT. 11

DRESSER-RAND CO.: $420 million senior subordinated notes due 2014 (B3/B-); Morgan Stanley, Citigroup, UBS Investment Bank; rule 144A; non-callable for five years; to help fund First Reserve Corp.'s acquisition of Dresser-Rand from Ingersoll-Rand Co. Ltd. for cash of about $1.2 billion; Olean, N.Y., supplier of infrastructure equipment to the energy industry; roadshow starts Oct. 6; pricing late in the week of Oct. 11.

BOISE CASCADE LLC $650 million: $250 million senior notes due 2012 (expected B1/confirmed B+), non-callable for four years and $400 million senior subordinated notes due 2014 (B2/B+), non-callable for five years; JP Morgan, Lehman Brothers (joint), Deutsche Bank Securities, Goldman Sachs & Co. (co); Rule 144A; part of $3.555 billion financing of the LBO of Boise Cascade by Madison Dearborn Partners; paper and building products company is based in Boise, Ida.; roadshow starts Oct. 6; pricing expected Oct. 15.

THIRD QUARTER

EDITIS: €150 million bond; BNP Paribas, Credit Suisse First Boston, Lehman Brothers; to support Wendel Investissement's acquisition of certain publishing assets from Lagardere; Paris-based publisher of educational and consumer media, formerly Vivendi Universal Publishing; expected in third quarter of 2004.

NEW SKIES SATELLITES NV: $800 million bond and bank financing; Deutsche Bank Securities to lead bond deal; also new equity; to help fund The Blackstone Group's acquisition of the company for $956 million in cash, expected to close late 2004 or early 2005; Hague, Netherlands-based fixed satellite communications company; expected to come to the market in the third quarter of 2004.

ROCKWOOD SPECIALTIES INC.: €500-€600 million high yield notes; Credit Suisse First Boston, Goldman Sachs & Co., UBS Investment Bank; to help finance €2.25 billion acquisition of MG Technologies CeramTec, Chemetall, Sachtleben and DNES divisions; Princeton, N.J. chemical manufacturer; transaction expected to close third quarter of 2004.

OCTOBER BUSINESS

HORNBACH-BAUMARKT-AG: Up to €200 million bonds; Deutsche Bank Securities; Rule 144A; to improve the company's long-term capital structure and to secure its liquidity for further growth; Bornheim bei Landau/Pfalz, Germany-headquartered company operates do-it-yourself retail markets and garden centers; October business.

HAWK CORP.: New high yield bonds (seven-year non-call-four notes expected); to fund tender offer for $66.3 million of 12% senior notes due 2006 and repay bank debt; Jefferies & Co.; Rule 144A; Cleveland, Ohio-based supplier of highly engineered friction products; expected to launch mid-October and price late in the same month.

ON THE HORIZON

ADELPHIA COMMUNICATIONS CORP.: $3.3 billion 10-year senior unsecured notes; non-callable for five years; part of $8 billion bond and bank loan exit financing from Chapter 11; Deutsche Bank Securities; Greenwood Village, Colo. cable television company.

BUFFETS HOLDINGS INC.: 10-year senior notes in connection with IDS offering; Eagan, Minn., restaurant operator; to help refinance existing debt.

STATS CHIPPAC LTD.: Senior notes; Rule 144A/Regulation S; to fund tender for ChipPac International Co. Ltd.'s $165 million 12¾% senior subordinated notes due 2009, Deutsche Bank Securities dealer manager, offer expires Oct. 4; service provider of semiconductor packaging design, assembly, test and distribution solutions, headquartered in Singapore and Fremont, Calif.

COOPER STANDARD AUTOMOTIVE: $400 million bonds; Deutsche Bank, Lehman Brothers, Goldman Sachs & Co., UBS Investment Bank (joint); also $625 million credit facility; to help fund acquisition of Cooper-Standard by an entity formed by The Cypress Group and Goldman Sachs Capital Partners from Cooper Tire & Rubber Co. for approximately $1.165 billion; Novi, Mich.-based manufacturer of fluid handling systems, body sealing systems, and active and passive vibration control systems, primarily for automotive original equipment manufacturers; expected to close in fourth quarter.

GLOBAL MOTORSPORT GROUP INC.: $85 million senior secured notes due 2008 (B-); Jefferies & Co.; Rule 144A; non-callable for three years; to repay bank debt; Morgan Hill, Calif. aftermarket supplier of motorcycle parts.

IMCO RECYCLING: $100 million add-on to 10 3/8% senior secured notes due 2010; to help fund IMCO and Commonwealth merger, including refinancing of Commonwealth 10¾% senior subordinated notes due 2006, and Commonwealth and IMCO bank debt.

INTELSAT: New bonds and bank loan; Deutsche Bank Securities, Credit Suisse First Boston, Lehman Brothers; to help fund the approximately $5 billion acquisition of Intelsat by Zeus Holdings Ltd., a company formed by a consortium of funds advised by Apax Partners, Apollo Management, Madison Dearborn Partners and Permira; Intelsat is a Bermuda-based worldwide satellite telecommunications company; late third or early fourth quarter of 2004.

PETROKAZAKHSTAN: $150 million notes due 2014 (Ba3/B+); JP Morgan; Regulation S; Calgary, Alta.-based vertically integrated international energy company is largest supplier of refined products in Kazakhstan, owning one of the country's three refineries.

TEXAS GENCO HOLDINGS, INC.: New bonds; also new credit facility via Goldman Sachs & Co., Deutsche Bank Securities, Morgan Stanley (same banks expected to lead bond deal); to help fund acquisition of Texas Genco, a wholesale electric power generation company based in Houston, for approximately $3.65 billion in cash; expected fourth quarter business.

VERIZON HAWAII: New high-yield bonds; also new credit facility to be led by JPMorgan, Goldman Sachs, Lehman Brothers (same banks to lead bond deal, although not necessarily in that order); to fund Carlyle Group's $1.65 billion acquisition of Verizon Hawaii from Verizon Communications Inc.; pending regulatory approvals.

VNU WORLD DIRECTORIES: Approximately $450 million equivalent bonds; JP Morgan; to fund Apax Partners Worldwide LLP and Cinven Ltd.'s €2.075 billion acquisition of the company from parent VNU NV, a Dutch information and media business.

INCOME SECURITIES OFFERINGS IN THE MARKET

B&G FOODS HOLDINGS CORP. approximately $340 million: 20.8 million (decreased from 28.4 million) Enhanced Income Securities (EIS), representing shares of class A common stock and $148.6 million (decreased from $196.2 million) senior subordinated notes due 2016, offering price $15.50-$17.00 per EIS, increased from $14.50-$15.50; also separate (third party) offering of $19 million (decreased from $26.5 million) senior subordinated notes due 2016 (notes only Caa1/CCC+), both issues of notes non-callable for five year and contain three-year 35% equity clawback; RBC Capital Markets, Credit Suisse First Boston, Merrill Lynch & Co. (joint books), Lehman Brothers and Piper Jaffray; registered; also $200 million senior notes (see above) and new $30 million revolver; to fund recapitalization, repay $150 million of bank debt, retire its $220 million 9 5/8% senior subordinated notes due 2007, repurchase $119 million preferred stock, repurchase options, warrants and Class B common stock from existing investors, Bruckman, Rosser, Sherrill, Canterbury Mezzanine Capital and the CIT Group; Parsippany, N.J. based food company; roadshow started Sept. 20; pricing expected Tuesday.

ALASKA COMMUNICATIONS SYSTEMS GROUP INC.: $400 million income deposit securities: shares of Class A common stock and senior subordinated notes due 2019; Citigroup, CIBC World Markets, JP Morgan (books), Banc of America Securities, RBC Capital Markets, Jefferies & Co., KeyBanc Capital Markets (co's); proceeds, together with cash on hand, to fund cash payment to existing stockholders and to repay existing credit facility; Anchorage, Alaska provider of fixed line and mobile telecommunications services in Alaska.

ALLIANCE LAUNDRY HOLDINGS INC.: up to $375 million of income deposit securities (IDS) comprised of 20.63 million shares of class A common stock and $100 million senior subordinated notes due 2019; also separate offering of $13.9 million senior subordinated notes (Caal/CCC on notes); CIBC World Markets, Lehman Brothers (joint), UBS Investment Bank (co) estimated price $14.00 and $16.00 per IDS; company supplies washers and driers to laundromats.

BUFFETS HOLDINGS, INC.: $550 million Income Deposit Securities and senior subordinated notes; Credit Suisse First Boston (on left), Banc of America Securities LLC, CIBC World Markets (joint books), UBS Investment Bank (lead), JPMorgan, Piper Jaffray (cos); also new credit facility and 10-year senior notes; proceeds along with cash on hand to refinance outstanding debt and repurchase common stock, warrants and options from the existing holders; Eagan, Minn., restaurant operator.

CARROLS HOLDING CORP.: $475 million Enhanced Yield Securities comprised of shares of common stock and senior subordinated notes due 2016 and offerings of shares of common stock and senior subordinated notes due 2016; Lehman Brothers; proceeds, along new credit facility to repay existing bank debt and $170 million 9½% senior subordinated notes due 2008.

COINMACH SERVICE CORP. $383.15 million: 21.05 million income deposit securities at approximately $13.50-$15.00 per IDS comprised of shares of class A common stock and $135 million (decreased from $148.5 million) senior secured notes due 2024; also separate third party $20 million offering of senior secured notes due 2024 (Caa1 on notes) ; Merrill Lynch & Co. (books), Citigroup, Jefferies & Co., Deutsche Bank Securities, RBC Capital Markets, SunTrust Robinson Humphrey (co's); to redeem part of Coinmach Corp.'s 9% notes, repay bank debt and repurchase class A and class B preferred shares; Plainview, N.Y. supplier of coin and card operated laundry equipment.

DAVCO ACQUISITION HOLDING INC. 7.99 million Enhanced Income Securities (EIS), price range $14.50 and $15.50 per EIS: comprised of 7.99 class A common stock and $59 million senior subordinated notes due 2016, also separate offering of $7.5 million senior subordinated notes due 2016; RBC Capital Markets (books), KeyBanc Capital Markets, Oppenheimer, SunTrust Robinson Humphrey; both issues of notes guaranteed on an unsecured senior subordinated basis by all domestic subsidiaries (DavCo Operations Inc., FriendCo Restaurants, Inc., Heron Realty Corp. and MDF, Inc.); approximately $13.0 million of the proceeds will be used to repurchase class B common stock from Citicorp Venture Capital, Ltd. and affiliates; subsidiary of Crofton, Md.-based DavCo Restaurants Inc., the largest franchisee of Wendy's International, Inc.

EYE CARE CENTERS OF AMERICA: $375 million Income Units comprised of class A common stock and senior subordinated notes due 2014; Banc of America Securities, Merrill Lynch & Co. (books), Citigroup, Lehman Brothers (co's); proceeds along with available cash to repay credit facility, redeem $100 million 9 1/8% senior subordinated notes due 2008 and $50 million subordinated term notes, also redeem all outstanding preferred stock and repurchase common stock from existing shareholders; San Antonio, Tex. prescription optical retail chain owner.

FAIRPOINT COMMUNICATIONS INC.: 40.94 million income deposit securities; includes 40.94 million shares of class A common stock and $184.2 million (decreased from $209.8 million) senior subordinated notes due 2019; also separate offering of $30 million (decreased from $33 million) senior subordinated notes due 2019 (CCC+ notes only); CIBC World Markets, Deutsche Bank Securities, UBS Investment Bank (books), Banc of America Securities, Citigroup, Credit Suisse First Boston, RBC Capital Markets, Wachovia Securities (co's); to repay existing credit facility, fund tender for $115.2 million 9½% senior subordinated notes due 2008, $75 million floating-rate notes due 2008, $193 million 12½% senior subordinated notes due 2010, $225 million 11 7/8% senior notes due 2010; Charlotte, N.C. rural local-exchange carrier; expected price of $15.00 to $17.00 per IDS.

MERISANT WORLDWIDE, INC.: $775 million income deposit securities comprised of shares of class A common stock and senior subordinated notes due 2019, also separate offering of senior subordinated notes due 2019; Credit Suisse First Boston, RBC Capital Markets, Merrill Lynch & Co. (joint); to repay bank debt, repurchase discount notes, repurchase senior subordinated notes, repurchase class B common stock, fund payments under existing management incentive plans; formerly known as Tabletop Holdings, Inc., Chicago company markets low calorie tabletop sweeteners.

PRESTIGE BRANDS HOLDINGS, INC. $920 million income deposit securities: shares of Class A common stock and senior subordinated notes due 2019; also a separate offering of senior subordinated notes; Merrill Lynch & Co. Banc of America Securities; also new credit facility; to repay existing credit facility, purchase or redeem all of the 9¼% notes; purchase all senior preferred stock and class B preferred stock and purchase shares of class C common stock; Irvington, N.Y.-based cleaning products company.

RURAL LEC ACQUISITION LLC $190 million: 9.063 million income deposit securities comprised of class A common stock and $63.8 million (decreased from $69.7 million) senior subordinated notes due 2019, estimated price range $15.20 and $16.80 per IDS; also separate $8.4 million offering of senior subordinated notes due 2019; CIBC World Markets, RBC Capital Markets (leads), Deutsche Bank Securities, Harris Nesbitt, KeyBanc Capital Markets, Raymond James; to repay $81.2 million of long-term notes and $18 million Mid-Missouri Holding long-term notes and for general corporate purposes; Oneonta, Ala. provider of telephone services in Alabama and Missouri, plans to change name to Otelco Inc. before offering closes.

TRANSCORE HOLDINGS INC.: $375 million Enhanced Yield Securities comprised of class A common stock and senior subordinated notes due 2016, also separate offering of senior subordinated notes due 2016; Lehman Brothers; proceeds, along with a new credit facility, to repay existing credit facility, redeem common and preferred stock and make other payments to security holders and employees; Harrisburg, Pa. provider of information technology to toll road operators, state departments of transportation, trucking companies and freight brokers.

VALOR COMMUNICATIONS GROUP, INC.: $875 million income deposit securities: shares of class A common stock and senior subordinated notes due 2019, also separate offer of senior subordinated notes due 2019 (CCC+ on both debt offerings), notes non-callable for seven years; CIBC World Markets, Merrill Lynch & Co., Lehman Brothers (joint), Banc of America Securities, JP Morgan (co's); to purchase subsidiaries' stock and repay debt; Irving, Tex.-based telecommunications provider.

XERIUM TECHNOLOGIES, INC.: 40.625 million income deposit securities comprised of 40.625 million shares of class A common stock and $298.6 million senior subordinated notes due 2019, price range $15.20 and $16.80; also separate offering of $52.4 million of senior subordinated notes due 2019; CIBC World Markets (books), Citigroup, Merrill Lynch & Co., Robert W. Baird & Co., Calyon Securities, KeyBanc Capital Markets, Legg Mason (co's); to repay debt, including senior and mezzanine credit facilities and to redeem part of class A common stock; Westborough, Mass. manufacturer of clothing and machinery covers.

ROADSHOWS

Started Sept. 30: SOUTHERN STATES COOPERATIVE INC. $100 million; Wachovia Securities

Oct. 4 week: HARVEST OPERATIONS CORP. (HARVEST ENERGY TRUST) $200 million; Morgan Stanley

Starts Oct. 6: BOISE CASCADE LLC $650 million; JP Morgan, Lehman Brothers

Starts Oct. 6: DRESSER-RAND CO. $420 million; Morgan Stanley, Citigroup, UBS Investment Bank

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