High Yield Calendar

Total amount of high-yield bond offerings being marketed: $1.535 billion

WEEK OF OCT. 25

IMCO RECYCLING ESCROW INC.: $125 million senior notes due 2014 (B3/B-); Deutsche Bank Securities, Citigroup (joint), PNC Financial Services Group (co); Rule 144A/Regulation S; to repay debt, including funding the tender for Commonwealth's $125 million 10¾% senior subordinated notes due 2006, related to IMCO's merger with Commonwealth Industries Inc., a Louisville, Ky. company that manufactures aluminum sheet for distributors and the transportation, construction and consumer durable product industries; after merger is completed and the escrow released, notes will be guaranteed by IMCO Recycling Inc.'s wholly owned U.S. subsidiaries, and Commonwealth's subsidiaries; Imco is an Irving, Texas, recycler of zinc and aluminum; price talk 9%-9¼%; pricing Friday morning.

LEVITZ HOME FURNISHINGS INC. $130 million restructured: $100 million series A senior secured notes due 2011 (B3/B-), price talk 12% area, and $30 million series B senior secured notes due 2011 (new ratings expected), price talk 15% area; Jefferies & Co.; Rule 144A; both tranches non-callable for four years; series A has payment priority over series B; previously a single $130 million tranche; to repay existing debt; Woodbury, N.Y.-based home furnishings company; pricing expected Friday.

WEEK OF NOV. 1

INTEGRATED ALARM SERVICES GROUP INC.: $125 million senior notes due 2011(B3/B-); Morgan Joseph & Co. (books), Wells Fargo Securities (joint lead), ABN Amro (co); Rule 144A with registration rights; make-whole call at Treasuries plus 50 basis points for first four years, then callable at premium; three-year 35% equity claw; guaranteed by all domestic subsidiaries; to retire high coupon debt and acquire National Alarm Computer Center Inc. from Tyco International Ltd.; Albany, N.Y.-based provider of monitoring, financing and business support services to independent security alarm dealers in the U.S; roadshow Oct. 26-Nov. 3.

ROCKWOOD SPECIALTIES GROUP INC.: $625 million senior subordinated notes due 2014 in dollar and euro tranches (B3/B-); Credit Suisse First Boston, Goldman Sachs & Co., UBS Investment Bank (joint); Rule 144A/Regulation S with registration rights; to repay a bridge loan incurred to fund a portion of the acquisition of four business units (Sachtleben, Chemetall, CeramTec and DNES Custom Synthesis) of Dynamit Nobel from mg technologies AG (sponsors Kohlberg, Kravis, Roberts & Co., CSFB Private Equity); Princeton, N.J., chemical manufacturer; roadshow started Oct. 25 in London, Nov. 1 in U.S.

ANWORTH MORTGAGE ASSET CORP.: $50 million series A perpetual preferred shares; Friedman Billings Ramsey (books), Stifel Nicolaus & Co., Advest Group, BB&T, Flagstone Securities (co's); non-callable for five years; Santa Monica, Calif., mortgage investor; roadshow Oct. 27 in New York, Oct. 28 Thursday in Boston, Oct. 29 on West Coast; pricing expected Nov. 1; talk 8 5/8% to 8¾%.

WEEK OF NOV. 8

K&F ACQUISITION INC.: $365 million senior subordinated notes due 2014; Lehman Brothers, Goldman Sachs (joint), Citigroup, JP Morgan (co's): Rule 144A/Regulation S; fund the acquisition of K&F by Aurora Capital Group from Bernard Schwartz and Lehman Bros Merchant Banking for $1.06 billion in cash (includes tender for its $185 million 9¼% senior subordinated notes due 2007 and $250 million 9 5/8% senior subordinated notes due 2010); New York City-based manufacturer of aircraft parts; roadshow Oct. 29-Nov. 8.

STATS CHIPPAC LTD.: $165 million senior notes due 2011 (Ba2/BB); Deutsche Bank Securities, Lehman Brothers; Rule 144A/Regulation S; guaranteed by all of Stats ChipPAC's wholly owned subsidiaries, other than those subsidiaries organized under the laws of the People's Republic of China; to redeem $165 million 12¾% senior subordinated notes due 2009, repay bank debt and for general corporate purposes.; service provider of semiconductor packaging design, assembly, test and distribution solutions, based in Singapore and Fremont, Calif.; roadshow starts Nov. 1 in Hong Kong, Nov. 2 in Singapore, U.S. roadshow starts Nov. 4; pricing expected early Nov. 8 week.

NOVEMBER 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-based company operates do-it-yourself retail markets and garden centers.

TEXAS GENCO: $1.375 billion bonds; Goldman Sachs & Co., Morgan Stanley, Deutsche Bank Securities, Citigroup; to fund acquisition of Texas Genco by the Blackstone Group, Hellman & Friedman, Kohlberg Kravis Roberts and Texas Pacific Group; also $2.2 billion credit facility; Houston wholesale electric power generator.

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.

CANWEST MEDIA INC.: 8% senior subordinated notes due 2014; Rule 144A/Regulation S; to be sold in conjunction with exchange offer for Hollinger Participation Trust 12 1/8% senior notes due 2010; Winnipeg-based wholly owned subsidiary of CanWest Global Communications Corp.

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 about $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.

EGL HOLDING CORP.: $660 million of senior subordinated notes; also $780 million senior secured credit facility to be led by JP Morgan, Wachovia Securities and Merrill Lynch & Co.; also equity contribution; to help fund approximately $2.3 billion acquisition of Select Medical Corp; issuer is a new company formed by an investment group led by Welsh, Carson, Anderson & Stowe; acquisition to close first quarter of 2005.

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.

HOLLYWOOD MERGER CORP.: $550 million in bonds; also $275 million credit facility to be led by UBS Securities LLC; part of its amended merger agreement with affiliates of Leonard Green & Partners LP; Wilsonville, Ore., video chain; expected end of the fourth quarter 2004, or early first quarter 2005.

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; early fourth quarter of 2004.

NATIONAL WATERWORKS HOLDINGS INC.: $250 million senior PIK notes due 2014; Rule 144A; to fund dividend payment, sponsors JP Morgan Partners and Thomas H. Lee Partners; parent company of Waco, Texas-based National Waterworks Inc., a distributor of water and wastewater transmission products and other equipment for municipal water systems and sewage-treatment plants.

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

ULTRAPETROL (BAHAMAS) LTD.: $150 million senior secured first preferred ship mortgage notes due 2014 (B3); Credit Suisse First Boston; to fund tender for 10½% first preferred ship mortgage notes due 2008 and repay bank debt; Nassau, Bahamas-registered diversified ocean and river transportation company involved in the carriage of dry and liquid bulk cargoes.

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

ALLIANCE LAUNDRY HOLDINGS INC.: up to $375 million of Income Deposit Securities 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.

COINMACH SERVICE CORP. 18.333 million (decreased from 21.05 million) Income Deposit Securities at approximately $14.25-$15.75 per IDS (increased from $13.50-$15.00) comprised of shares of class A common stock and $123 million (decreased from $135 million) senior secured notes due 2024; also separate third party $20 million offering of senior secured notes due 2024 (Caa1 on notes); $6.75 allocated to each note and $8.25 allocated to each share common stock; 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.); about $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 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.

XERIUM TECHNOLOGIES INC.: 28.1 million (decreased from 40.625 million) Income Deposit Securities, expected offering price $15.20 and $16.80: securities comprised shares of class A common stock and $201 million (reduced from $298.6 million) senior subordinated notes due 2019, price range $15.20 and $16.80; also separate offering of $45.3 million (reduced from $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 Oct. 25: ROCKWOOD SPECIALTIES GROUP INC. $625 million; Credit Suisse First Boston, Goldman Sachs & Co., UBS Investment Bank

Oct. 26-Nov. 3: INTEGRATED ALARM SERVICES GROUP INC. $125 million; Morgan Joseph & Co.

Oct. 29-Nov. 8: K&F ACQUISITION INC. $365 million; Lehman Brothers, Goldman Sachs

Starts Nov. 1: STATS CHIPPAC LTD. $165 million; Deutsche Bank Securities, Lehman Brothers

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