High Yield Calendar

Total amount of dollar-denominated high-yield bond offerings being marketed: $6.205 billion

WEEK OF JULY 28

FLENDER HOLDING GMBH: €250 million senior notes; Deutsche Bank Securities, Credit Suisse First Boston; to repay senior credit facility and pay dividend to sponsor CVC; Herne, Germany manufacturer of power transmission equipment; roadshow started July 21.

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, repay debt and general corporate purposes; roadshow July 17 through late in July 21 week; New York City-area supermarket chain; expected to price early in week of July 28.

BSN GLASSPACK OBLIGATION: €160 million senior subordinated second lien notes due Aug. 1, 2009 (B1/B-); Citigroup, BNP Paribas (joint); Rule 144A/Regulation S (with no registration rights); to repay bank debt and fund part of tender offer; Paris, France-based manufacturer of glass bottles for wines, beers, spirits and non-alcoholic beverages; roadshow started July 15; price talk 9¼%-9 3/8%; expected to price early in the week of July 28.

COMPANHIA BRASILEIRA DE PETROLEO IPIRANGA: expected $125 million senior notes due 2008 (B2), putable in 2005; Bear Stearns; to repay debt; Brazilian refiner and distributor of petroleum products; roadshow started early in week of July 21; price talk 8¼% area.

EURAMAX INTERNATIONAL, INC.: $200 million senior subordinated notes due 2011 (B2/B); UBS Investment Bank, Banc of America Securities (joint); Rule 144A; non-callable for four years; to repay debt and possibly pay a dividend; Norcross, Ga.-based producer of aluminum, steel, vinyl and fiberglass products; roadshow started July 21; price talk 8¼%-8½%; pricing Wednesday.

FHC HEALTH SYSTEMS, INC.: $250 million senior notes due 2011 (B3); Citigroup, Goldman Sachs (joint); Rule 144A; non-callable for four years; repay bank debt; behavioral health company; price talk 10¼% area; pricing Thursday.

HILCORP ENERGY CO.: $350 million senior notes due 2010 (B3/B); Deutsche Bank Securities, Lehman Brothers (joint); Rule 144A; non-callable for four years; to fund acquisition of properties, acquire partner's equity interest and repay part of bank debt; privately-held Texas corporation acquires and exploits oil and gas properties; roadshow July 21-31.

NATIONAL BEEF PACKING CORP. LLC.: $160 million senior notes due 2011 (B2/BB-); Deutsche Bank Securities; Rule 144A; non-callable for four years; for refinancing and to fund acquisition of Farmland Industries' 71.2% ownership in Farmland National Beef Packing Co.; company based in Dodge City, Kan.; roadshow began July 23; pricing expected middle of July 28 week.

ADVANSTAR COMMUNICATIONS INC.: $400 million in two tranches of second priority senior secured notes: fixed rate notes due 2010, non-callable for four years, and floating rate notes due 2008 (B3/B-); Rule 144A; Credit Suisse First Boston (books), Fleet Securities (co); to repay bank debt; Boston-based business information company; roadshow started July 22; expected to price Friday.

EAGLEPICHER INC.: $220 million senior notes due 2013 (B3/B-); UBS Investment Bank (books), ABN Amro, Harris Nesbitt (co); Rule 144A/Regulation S; non-callable for five years; to fund tender for 9 3/8% senior subordinated notes due 2008; Phoenix, Ariz.-based manufacturer; roadshow started July 23; pricing Friday afternoon.

DYNEGY HOLDINGS INC.: $1.325 billion of second priority senior secured notes due 2013, non-callalbe for five years, and 2015, non-callable for five years; Credit Suisse First Boston (books), Banc of America Securities (joint lead); Rule 144A; to fund tender for 8 1/8% notes due 2005, 6¾% notes due 2005 and 7.45% notes due 2006, also a one-time payment to ChevronTexaco; roadshow started July 28; pricing Friday.

SOUTHERN STAR CENTRAL CORP.: $180 million senior secured notes due 2010 (B1/B+); Lehman Brothers; Rule 144A; non-callable for four years; to fund AIG High Star's acquisition of pipeline assets from Williams; roadshow started July 24; pricing August 1.

RIVERWOOD INTERNTATIONAL INC.: $850 million senior notes due 2011 (B2/B-), non-call-four, and senior subordinated notes due 2013, non-call-five (B3/B-); Goldman Sachs, Deutsche Bank Securities, JP Morgan, Morgan Stanley, Credit Suisse First Boston, Citigroup (joint); Rule 144A; to repay Riverwood and Graphic Packaging debt, and take out the preferred stock of Graphic Packaging; roadshow started late in July 21 week; pricing late in week of July 28.

PANAVISION INC.: $275 million senior secured notes due 2008 (B3/B-); Credit Suisse First Boston, Bear Stearns (joint); Rule 144A; non-callable for three years; to repay debt; Woodland Hills, Calif. co.; expects to issue in early August 2003; roadshow started July 25; pricing late in week of July 28.

JULY BUSINESS

MEDCO HEALTH SOLUTIONS, INC.: $500 million senior notes due 2013 (Ba1/BBB); Goldman Sachs, JP Morgan, Citigroup; also $1.15 billion senior secured credit facility; public; callable; 35% equity clawback for three years; to help pay cash dividend to Merck; roadshow expected in July.

WEEK OF AUGUST 4

HAIGHTS CROSS COMMUNICATIONS: $340 million: HAIGHTS CROSS OPERATING: $260 million senior notes due 2011 (Caa1/B-) and HAIGHTS CROSS COMMUNICATIONS HOLDINGS: $80 million of senior discount notes due 2013 (Caa2/B-), five-year zero coupon; Bear Stearns; Rule 144A; to repay debt and redeem $105 million of preferred shares; White Plains, N.Y. publisher of educational and professional material; roadshow started July 23; pricing early in the week of August 4.

ARMOR HOLDINGS, INC.: $150 million senior subordinated notes due 2013; Wachovia Securities; Rule 144A/Regulation S; non-callable for five years; three-year 35% equity clawback; to fund Simula, Inc. acquisition, repay debt and for general corporate purposes, including working capital and capital expenditures; Jacksonville, Fla.-based company sells security products and services; roadshow started July 28; pricing mid-week during the week of Aug. 4.

AMSTED INDUSTRIES INC.: $275 million senior notes due 2011 (B3/B); Citigroup, Banc of America Securities; Rule 144A for life; non-callable for four years; to repay bank debt, for working capital and for general corporate purposes; Chicago-based manufacturer of components for the rail, vehicular, construction and industrial markets; roadshow July 30-Aug. 7.

CONCENTRA OPERATING CORP.: $150 million senior subordinated notes due 2010 (B3 expected/B- confirmed); Credit Suisse First Boston, Citigroup (joint), Deutsche Bank Securities, JP Morgan (co's); Rule 144A; non-callable for four years; to repay debt; Addison, Tex provider of services designed to contain healthcare and disability costs; roadshow started July 29; pricing during the week of Aug. 4.

ARDENT HEALTH SERVICES, LLC: $150 million senior subordinated notes due 2013 (B3/B+); Banc of America Securities, UBS Investment Bank (joint), Banc One Capital Markets, Merrill Lynch (co's); Rule 144A; non-callable for five years; to repay existing debt; healthcare services provider based in Nashville, Tenn.; roadshow starts July 30; pricing expected week of August 4

BIO-RAD LABORATORIES, INC.: $200 million senior subordinated notes due 2013 (BB-); Goldman Sachs (books), Credit Suisse First Boston, Deutsche Bank Securities, Banc One Capital Markets, Baird (co's); Rule 144A/Regulation S; to fund tender for $88.715 million 11 5/8% senior subordinated notes due 2007 and for general corporate purposes; Hercules, Calif.-based manufacturer and distributor of life science research products and clinical diagnostics; roadshow started July 28; pricing expected during August 4 week.

TEMPUR PEDIC INC: $150 million senior subordinated notes due 2010 (B3/B-); Lehman Brothers, UBS Investment Bank (joint), Credit Suisse First Boston (co); to repay bank and mezzanine debt, and fund special dividend to shareholders; Lexington, Ky.-based mattress company; roadshow started July 29; pricing late in the week of August 4.

NORCROSS SAFETY PRODUCTS LLC: $150 million senior subordinated notes due 2011 (B3/B-); CIBC World Markets, Lehman Brothers (joint), Fleet Securities (co); Rule 144A; non-callable for four years; to refinance existing debt; Oak Brook, Ill.-based supplier of personal protection equipment; roadshow started July 29; pricing late in week of August 4.

AUGUST BUSINESS

GENCORP INC.: $175 million senior subordinated notes due 2013 (B2/B+); Deutsche Bank Securities; Rule 144A; non-callable for five years; to finance acquisition of propulsion business of Atlantic Research Corp., and to refinance existing debt; Sacramento, Calif.-based technology-based manufacturer in automotive, aerospace and defense and pharmaceutical fine chemical industries; roadshow July 28 to Aug. 6.

ON THE HORIZON

CHARTER COMMUNICATIONS, INC.: $1.7 billion senior notes; Citigroup; Rule 144A; to fund tender and repay debt; St. Louis-based cable operator; possibly July 21 week.

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.

MONITRONICS INTERNATIONAL INC.: $200 million senior subordinated notes; Banc of America Securities (bookrunner); Fleet Securities (co); also $325 million credit facility; to refinance debt; Dallas provider of monitored security alarm systems.

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

July 21-31: HILCORP ENERGY CO. $350 million; Deutsche Bank Securities, Lehman Brothers; Rule 144A; 7NC4

Early July 21 week: HAIGHTS CROSS COMMUNICATIONS $340 million; Bear Stearns; Rule 144A; 8 and 10-year maturities

Started July 22: ADVANSTAR COMMUNICATIONS INC. $400 million; Credit Suisse First Boston; Rule 144A; two tranches

Started July 23: EAGLEPICHER INC. $220 million; UBS Investment Bank; Rule 144A/Regulation S; 10NC5

Started July 23: NATIONAL BEEF PACKING CORP. LLC. $160 million; Deutsche Bank Securities; Rule 144A; 8NC4

Started July 24: SOUTHERN STAR CENTRAL CORP. $180 million; Lehman Brothers; Rule 144A; 7NC4

Started late in July 21 week: RIVERWOOD INTERNTATIONAL INC. $850 million; Goldman Sachs, Deutsche Bank Securities, JP Morgan, Morgan Stanley, Credit Suisse First Boston, Citigroup; Rule 144A; 7NC4 and 10NC5

Started July 25: PANAVISION INC. $275 million; Credit Suisse First Boston, Bear Stearns; Rule 144A; 5NC3

July 28-Aug. 6: GENCORP INC. $175 million; Deutsche Bank Securities; 10NC5

Started July 28: ARMOR HOLDINGS, INC. $150 million; Wachovia Securities; Rule 144A/Regulation S; 10NC5

Started July 28: DYNEGY HOLDINGS INC. $1.325 billion; Credit Suisse First Boston; Rule 144A; 10NC5 and 12NC5

Started July 28: BIO-RAD LABORATORIES, INC. $200 million; Goldman Sachs; Rule 144A/Regulation S; 10-year maturity.

Starts week of July 28: VALE OVERSEAS LIMITED $300 million; Deutsche Bank Securities, Morgan Stanley; Rule 144A; 10-year maturity

Started July 29: CONCENTRA OPERATING CORP. $150 million; Credit Suisse First Boston, Citigroup; Rule 144A; 7NC4

Started July 29: TEMPUR-PEDIC INC $150 million; Lehman Brothers, UBS Investment Bank; seven-year maturity

Started July 29: NORCROSS SAFETY PRODUCTS LLC $150 million; CIBC World Markets, Lehman Brothers; Rule 144A; 8NC$

July 30-August 7: AMSTED INDUSTRIES INC. $275 million; Citigroup, Banc of America Securities; Rule 144A; 8NC4

Starts July 30: ARDENT HEALTH SERVICES, LLC $150 million; Banc of America Securities, UBS Investment Bank; Rule 144A; 10NC5

Starts in July: MEDCO HEALTH SOLUTIONS, INC. $500 million; Citigroup, JP Morgan, Goldman Sachs; 10-year maturity

RECENT SHELF FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION:

HERITAGE PROPANE PARTNERS, LP (Symbol: HPG): $800 million shelf filed July 25 for common units and debt securities; debt may be issued as convertibles; includes $6.49 million previously registered but unsold; Tulsa, Okla. retail and wholesale marketer of propane will use proceeds for general partnership purposes.

http://www.sec.gov/Archives/edgar/data/1012569/000095012903003749/h07647sv3.txt

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