High Yield Calendar

Total amount of high-yield bond offerings being marketed: $575 million

WEEK OF JUNE 6

TEKNI-PLEX INC.: $150 million of senior secured notes due 2012 (B3); Citigroup, Lehman Brothers (joint books); Rule 144A; non-callable for four years; to repay credit facility borrowings and for general corporate purposes; Somerville, N.J.-based packaging manufacturer; roadshow in New York on Thursday, Boston on Friday and Los Angeles on Monday; pricing expected June 6.

CORPORACION INTERAMERICANA DE ENTRETENIMIENTO SA de CV: $200 million of 10-year bonds (Ba2/B+ (expected)); Citigroup; Rule 144A/Regulation S; senior unsecured notes; non-callable for five-years; to prepay existing debt; roadshow May 31 through June 3, pricing expected June 6; Mexico City-based live event producer.

JUNE BUSINESS

RAFAELLA APPAREL GROUP INC.: $160 million of senior secured notes due 2011 (B2); Jefferies & Co.; Rule 144A (no registration rights); non-callable for three years; to help fund leveraged buyout by Cerberus Capital Management LP; New York-based women's apparel maker; roadshow began May 31; pricing expected late June 6 week or early June 13 week.

EQUITY INNS PARTNERSHIP LP (EQUITY INNS INC.): $65 million senior unsecured notes due 2012 (B1/B+); Morgan Keegan; Rule 144A/Regulation S; non-callable for life; to reduce borrowings under its line of credit, fund future acquisitions of hotel properties and general corporate purposes; Germantown, Tenn.-based real estate investment trust with interests in hotel properties; expected to price during the May 23 week.

JULY BUSINESS

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 shortly after July 4.

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.

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.

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 postponed on April 19 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.

COMPRESSION POLYMERS HOLDINGS LLC: $215 million in fixed-rate notes due 2013 and floating-rate notes due 2012 (expected ratings B2/B-); Wachovia Securities; to fund the leveraged buyout of Compression Polymers Corp. by AEA Investors; manufacturer of engineered extruded plastic sheet products used primarily as replacements for wood and metal, based in Moosic, Pa.; pending market conditions.

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.

EL PASO CORP.: Remarketing of $272 million 6.14% senior unsecured notes due Aug. 16, 2007 (assumed ratings Caa1/CCC+); via Credit Suisse First Boston; Rule 144A/Regulation S with registration rights; to facilitate issuance of El Paso stock in 2005 pursuant to terms of the company's 9% mandatory convertible securities issued in June 2002 (equity contract settles Aug. 16, 2005), no proceeds to El Paso Corp.; Houston-based diversified oil and gas utility company.

EMMIS COMMUNICATIONS CORP.: $300 million senior unsecured floating-rate notes due 2012 (B3/B-); to finance the company's recently announced Dutch auction tender offer to repurchase up to 20 million or 39% of the company's outstanding common stock (about $400 million in total); The Blackstone Group financial adviser, also Banc of America Securities LLC, Deutsche Bank Securities, JP Morgan; Indianapolis-based diversified media company.

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; Korea-based semiconductor company; expected to launch in May.

THE NEIMAN MARCUS GROUP INC.: $3.9 billion debt financing, including senior secured notes, revolving credit facility, term loans and possibly bridge loans; Credit Suisse First Boston to lead debt financing; to support acquisition of the company by Texas Pacific Group and Warburg Pincus LLC.

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.

SIRIUS SATELLITE RADIO INC.: $250 million senior notes due 2015 (/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.

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.

TRAVELEX GROUP: Sterling-denominated bonds, size of offering to be determined; Deutsche Bank Securities; a consortium led by Apax Partners signed an agreement in February 2005 to acquire a majority stake in Travelex, transaction expected to close in 2005; London-based foreign currency exchange services provider.

PREFERRED SHARES

METCALF ENERGY CENTER LLC (indirect subsidiary of Calpine Corp.): $155 million 5.5-year redeemable preferred shares; Regulation D/Regulation S; also concurrent $100 million senior term loan; proceeds, as permitted by Calpine's existing bond indentures, to complete construction of the Metcalf power plant; Metcalf Energy Center LLC owns Calpine's 602-megawatt Metcalf Energy Center in San Jose, Calif.

ROADSHOWS

May 31-June 3: CORPORACION INTERAMERICANA DE ENTRETENIMIENTO SA de CV: $200 million 10-year bonds; Citigroup

June 2-6: TEKNI-PLEX INC.: $150 million senior secured notes; Citigroup, Lehman Brothers (joint books)

Started May 31: RAFAELLA APPAREL GROUP INC.: $160 million senior secured notes; Jefferies

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