High Yield Calendar

Total amount of high-yield bond offerings being marketed: $985 million and €1.175 billion

WEEK OF APRIL 25

GARDNER DENVER INC.: $125 million senior subordinated notes due 2013 (B2/B); Bear Stearns & Co., JP Morgan (joint); Wachovia Securities, Harris Nesbitt, Mitsubishi, Piper Jaffray, Scotia Capital; Rule 144A/Regulation S; non-callable for four years; guaranteed by certain of Gardner Denver's domestic subsidiaries; to help fund the acquisition of Thomas Industries Inc.; Gardner Denver is a Quincy, Ill., compressor company; price talk 7¾% area.

CENTRAL EUROPEAN MEDIA ENTERPRISES LTD. €350 million in two parts (B1/B+): €200 million seven-year non-call-four senior fixed-rate notes, price talk 8%-8¼%, and €150 million seven-year senior floating-rate notes, non-callable for six months, price talk six-month Euribor plus 525-550 basis points; JP Morgan, Lehman Brothers, ING; Rule 144A/Regulation S; to help fund the acquisition of a controlling interest in the TV Nova group, which owns and operates TV Nova in the Czech Republic; Hamilton, Bermuda-registered company; pricing Friday morning.

KLOECKNER INVESTMENT SCA: €350 million senior notes due 2015 (B3/B-); JP Morgan, Barclays Capital (joint); Rule 144A/Regulation S with no registration rights; non-callable for five years; to fund the LBO by Lindsay Goldberg & Bessemer; a multi-metal distribution company, has headquarters in Duisburg, Germany; price talk 9¾%-10%, pricing Friday.

VESTEL ELECTRONICS FINANCE LTD.: $225 million seven-year bonds (Ba3/B/BB-); Credit Suisse First Boston; ABN Amro; Rule 144A/Regulation S; senior unsecured; roadshow began in Istanbul on April 21, then Frankfurt and Munich on April 22 and then stops in London, on April 25; U.S. leg runs from April 26 through April 28; special purpose vehicle for Turkish electronics maker Vestel Elektronik Sanayi ve Ticaret AS; guidance set at Turkey bond due 2012 plus 125 to 150 basis points.

MANDRA FORESTRY FINANCE LTD.: $200 million maximum senior notes due 2013 (B1/B) (downsized from $235 million, restructured from 10-year maturity); Morgan Stanley; Rule 144A/Regulation S; call structure to be determined (previously non-callable for life); to fund acquisition of commercial plantations in Anhui Province, China (in the restructuring the company has offered to buy back the bonds if it fails to secure 50,000 hectares of the plantation property during the first 18 months; pricing status is day to day.

CELLC (PTY) LTD. €625 million in two tranches: Seven-year non-call-four first-priority secured notes (B2/BB-) and 10-year non-call-five senior subordinated notes (Caa1/B-), tranche sizes to be determined (ratings to be determined); Citigroup; to repay debt; South African wireless operator, with headquarters in Benmore, Gauteng.

WEEK OF MAY 2

PREMIUM STANDARD FARMS INC.: $125 million senior unsecured notes due 2015 (B1/BB); Morgan Stanley; Rule 144A with registration rights; non-callable for five years; to refinance the 9¼% senior notes due 2011; vertically integrated hog producer based in Kansas City, Mo.; roadshow started April 26; expected to price middle of the May 2 week.

THE GREENBRIER COS.: $175 million senior notes due 2015; Banc of America Securities LLC, Bear Stearns & Co.; Rule 144A/Regulation S; non-callable for five years; to refinance debt and for general corporate purposes; Lake Oswego, Ore., supplier of transportation equipment and services to the railroad industry; roadshow April 26-May 5.

JAMES RIVER COAL CO.: $135 million senior notes due 2015; Morgan Stanley (books), PNC Capital Markets (co); registered; also concurrent 4.2 million shares of common stock; to refinance both of its current credit facilities, to fund the recently announced acquisition of Triad Mining Inc., and for general corporate purposes; Richmond, Va.-based producer of steam- and industrial-grade coal; to launch April 25 week pending market conditions.

MAY BUSINESS

HYNIX SEMICONDUCTOR INC.: $750 million (expected size) with five-year to 10-year maturity (issuer rating B+ from Standard & Poor's); Citigroup, Deutsche Bank Securities, UBS Investment Bank, Merrill Lynch & Co.; to repay bank debt; Korean-based semiconductor company; expected to launch in early May.

ON THE HORIZON

AMADEUS GLOBAL TRAVEL DISTRIBUTION SA: €1 billion (approximate); Credit Suisse First Boston, BNP Paribas plus others; to fund the LBO of the company by BC Partners and Cinven; travel reservations firm based in Madrid, Spain; expected during first half of 2005.

AMERICAN LAWYER MEDIA INC.: $27.3 million 13% senior discount notes due 2013 (CCC); also $344.5 million credit facility; to help fund tender for $175 million 9¾% senior notes due 2007, Credit Suisse First Boston and UBS Securities dealer managers, expired Feb. 11; New York City-based integrated media company focused on the legal and business communities.

CHENIERE ENERGY: $500 million senior notes due 2015 (B3/B+); JP Morgan, Credit Suisse First Boston (joint), Banc of America Securities (co); Rule 144A/Regulation S; non-callable for five years; to fund three-year interest reserve, capital expenditures and for general corporate purposes; Houston-based company is a provider of liquified natural gas services; price talk 8¾% area was before offering was postpone on April 19, 2005 due to market conditions.

CHIQUITA BRANDS INTERNATIONAL: $150 million senior notes (B3); Morgan Stanley; Rule 144A/Regulation S; also $650 million credit facility, via Morgan Stanley and Wachovia Securities leads, Goldman Sachs & Co. (documentation agent) and $75 million convertible perpetual preferred stock; to fund acquisition of the Fresh Express unit of Performance Food Group, which is expected to close around the end of April; Cincinnati-based international marketer, producer and distributor of high-quality bananas and other fresh produce.

DACOM CORP.: $300 million notes due 2010 (expected ratings Ba3/BB-); Credit Suisse First Boston; Rule 144A/Regulation S; non-callable for life; to refinance debt; South Korea-based integrated service provider of telecommunications and internet related services; roadshow started March 14 week in Asia, March 17 in London, March 18-21 in Boston and New York City.

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.

PETROHAWK ENERGY CORP.: $125 high-yield bonds; to back the consolidation of the bank debt of Petrohawk and soon-to-be-acquired Mission Resources Corp.; bank group includes BNP Paribas; Petrohawk is a Houston-based energy company; Mission Resources is a Houston-based independent exploration and production company.

PETROQUEST ENERGY INC.: $150 million senior notes due 2013; Credit Suisse First Boston; Rule 144A/Regulation S; to repay bank debt, fund acquisitions and for general corporate purposes; PetroQuest Energy Inc. is an independent energy company engaged in the exploration, development, acquisition and production of oil and natural gas reserves in the Arkoma Basin, East Texas, South Louisiana and the shallow waters of the Gulf of Mexico, headquarters in Lafayette, La.

SIRIUS SATELLITE RADIO INC.: $250 million senior notes due 2015 (Caa2/CCC); JP Morgan, Morgan Stanley (joint), UBS Investment Bank (co); Rule 144A/Regulation S with registration rights; make-whole call at Treasuries plus 50 basis points for first five years, then callable at premium; 40% equity clawback; approximately $63.1 million of proceeds to redeem outstanding 15% senior secured discount notes due 2007 and 14½% senior secured notes due 2009, and for general corporate purposes; New York-based satellite radio broadcast company.

SUNGARD CAPITAL CORP.: $3 billion senior and/or senior subordinated notes; also $5 billion credit facility to be led by Citigroup and JP Morgan; to help fund the leveraged buyout of SunGard Data Systems Inc. by a consortium that includes Silver Lake Partners, Bain Capital, The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. LP, Providence Equity Partners and Texas Pacific Group; expected to close in 2005 third quarter.

TIM HELLAS: Bond financing to back €1.1 billion buyout of the company by Apax Partners and Texas Pacific Group from Telecom Italia; Deutsche Bank Securities, JP Morgan, others; TIM Hellas is the Greek mobile telephone operation, of which Telecom Italia is the majority stake-holder; expected to close in July.

SPLIT-RATED

LAZARD LLC: $650 million (approximate) senior notes due 2015 (Ba1/BBB-); Citigroup, JP Morgan (joint), BNY Securities, Goldman Sachs & Co., Lazard (co's); Rule 144A with registration rights; non-callable for life; to redeem membership interest held by historical partners; private investment bank headed by Bruce Wasserstein, registered in Hamilton, Bermuda; to price middle of May 2 week.

ROADSHOWS

Started April 12: MANDRA FORESTRY FINANCE LTD. $235 million; Morgan Stanley

To start April 25 week pending market conditions: JAMES RIVER COAL CO. $135 million; Morgan Stanley

Started April 26: PREMIUM STANDARD FARMS INC. $125 million; Morgan Stanley

April 26-May 5: THE GREENBRIER COS. $175 million; Banc of America Securities, Bear Stearns & Co.

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