High Yield Calendar

Total amount of high-yield bond offerings being marketed: $550 million and €350 million

WEEK OF APRIL 4

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; pricing delayed until April 4 week.

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; roadshow started March 23.

WEEK OF APRIL 11

DAMOVO GROUP III SA: €350 million in two tranches: seven-year non-call-four fixed-rate notes and seven-year floating-rate notes callable after 18 months at 102, 101, par; tranche sizes to be determined; Deutsche Bank Securities; Rule 144A/Regulation S with no registration rights; to repay bank debt; Glasgow, Scotland, information and communication technology firm; roadshow starts April 11.

APRIL BUSINESS

DIRECTV GROUP INC.: $500 million unsecured senior notes; Rule 144A/Regulation S; guaranteed on a senior basis by all of DirecTV Holdings' material domestic subsidiaries; also $2 billion credit facility to be led by Bank of America and JP Morgan; to repay and terminate the existing $1.26 billion senior secured credit facility of DirecTV Holdings and to repay an unsecured promissory note in the amount of $875 million owing to DirecTV Group, with remaining proceeds to be available for working capital or other purposes; El Segundo, Calif., provider of digital multichannel television entertainment, broadband satellite networks and services; to be completed in early April.

CHIQUITA BRANDS INTERNATIONAL: $150 million senior notes (B3); Morgan Stanley; Rule 144A/Regulation S; also $650 million credit facility, via Wachovia Securities, Morgan Stanley 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.

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.

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.

AMERIGAS PARTNERS LP: New debt securities; to fund tender offer for $388 million of its outstanding 8 7/8% series B senior notes due 2011, Credit Suisse First Boston is the dealer manager, expires May 2, 2005; largest retail propane distributor in the U.S., headquarters in Valley Forge, Pa.

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.

HUGHES NETWORK SYSTEMS LLC: $325 million senior unsecured notes due 2013 (B1); JP Morgan, Bear Stearns; also $300 million term loan and $75 million revolver; to help fund the transfer of Hughes Network Systems' assets to Hughes Network Systems LLC, a newly formed company that will be 50% owned by SkyTerra Communications Inc. and 50% owned by The DirecTV Group; provider of broadband satellite networks and services, headquartered in Germantown, Md.

HYUNDAI MOTOR MANUFACTURING ALABAMA (HMMA): $100 million overseas bond issue; subsidiary of Korea-based Hyundai Motor Co.

MOVIE GALLERY INC.: $475 million senior notes; Wachovia Securities, Merrill Lynch; also $720 million credit facility; to fund acquisition of Hollywood Entertainment Corp.; Movie Gallery is a Dothan, Ala.-based video rental chain.

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;

SUNGARD CAPITAL CORP.: $4.75 billion senior secured debt, $3.5 billion bridge financing; debt financing from JP Morgan, Citigroup, Deutsche Bank Securities, Goldman Sachs & Co., Morgan Stanley 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.

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.

ROADSHOWS

Starts April 11: DAMOVO GROUP III SA €350 million; Deutsche Bank Securities

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