High Yield Calendar

Total amount of high-yield bond offerings being marketed: $3.90 billion and €350 million

WEEK OF AUG. 7

TDS INVESTOR CORP. (TRAVELPORT) $1.4 billion equivalent in multiple tranches: $900 million equivalent senior notes due 2014 (B3), in fixed-rate notes, non-callable for four years, and floating-rate notes, non-callable for two years, and $500 million equivalent senior subordinated notes due 2016 (Caa1), non-callable for five years, all to be sold in dollar-denominated and euro-denominated tranches, sizes to be determined; Lehman Brothers, Credit Suisse, UBS Investment Bank, Citigroup, Deutsche Bank Securities (joint); Rule 144A/Regulation S; to help fund the $4.3 billion cash purchase of Travelport by The Blackstone Group from Cendant Corp.; Chicago-based provider of business and consumer travel-related services; roadshow started July 27; possibly pricing late in the week of Aug. 7.

FMG FINANCE PROPERTY (FORTESCUE METALS GROUP) $1.9 billion equivalent first-lien senior secured notes in maturities ranging from five years to 10 years, with a possible floating-rate tranche to be sold in dollar and euro denominations; Citigroup; Rule 144A/Regulation S; to fund construction of a freight rail line from Fortescue's new iron ore project in the Pilbara region of Western Australia to the coast; Fortescue, based in East Perth, Western Australia, is a producer and supplier of iron ore; roadshow started July 26 in Asia, in Europe July 31-Aug. 2, U.S. roadshow started Aug. 3; pricing late Aug. 7 week or early Aug. 14 week.

SAVERS INC.: $140 million eight-year senior subordinated notes (Caa1/CCC+); non-callable for four years; CIBC World Markets; Rule 144A; proceeds, along with new credit facility and equity from Freeman Spogli Funds, Norman Matthews and equity rollover by company founder and members of management will be used to finance a recapitalization; Bellevue, Wash., thrift retailer; pricing expected early in Aug. 7 week.

PT POLYFIN CANGGIH: $75 million senior secured notes due 2011 and 250 warrants to purchase shares; Jefferies & Co.; private placement and Regulation S; non-callable for two years; two-year 35% equity clawback; to repay existing debt, for working capital and general corporate purposes; integrated producers of polyester chips and synthetic yarn in Indonesia, to be incorporated in The Netherlands (guarantors are incorporated in Indonesia, Singapore and the British Virgin Islands; the company's registered office is located in Bandung, Indonesia); roadshow in the U.K. during July 31 week, Asia on Aug. 7 and 8, United States on Aug. 9; pricing expected week of Aug. 7.

ALLIS-CHALMERS ENERGY INC.: $80 million add-on to 9% senior notes due Jan. 15, 2014 (B3/B-); RBC Capital Markets (books); Rule 144A/Regulation S with registration rights; callable after Jan. 15, 2010 at 104.50, 102.25, par on and after Jan. 15, 2012; proceeds, along with a concurrent follow-on equity offering of 2.5 million shares, to help fund acquisition of DLS Drilling, Logistics & Services Corp., repay existing debt and for general corporate purposes; Houston-based provider of oilfield services and equipment to oil and gas exploration and production companies; original $160 million issue priced at par on Jan. 12, 2006; roadshow started Aug. 1; expected to price Aug. 7 week.

REICHOLD INDUSTRIES: $195 million senior notes due 2014 (B2); Banc of America Securities LLC, Wachovia Securities; Rule 144A for life; non-callable for four years; to repay existing debt and pay a $20 million dividend to shareholders; Durham, N.C.-based supplier of unsaturated polyester resins for composite applications and resins and other polymers for coatings applications; roadshow started Aug. 1; pricing mid-Aug. 7 week.

WEEK OF AUG. 14

BROADVIEW NETWORKS HOLDINGS INC.: $210 million senior secured notes due 2012 (B-); Jefferies & Co. (books); Rule 144A with registration rights; non-callable for three years; three-year 35% equity clawback; to fund the ATX acquisition, repay debt under existing senior secured credit facility and senior unsecured subordinated notes due 2009, and for general corporate purposes; facilities-based communications provider, headquarters in Rye Brook, N.Y.; roadshow started Aug. 4; pricing expected week of Aug. 14.

BCM IRELAND FINANCE LTD. (EIRCOM GROUP PLC): €350 million senior floating-rate notes due 2016 (/B); Credit Suisse, Deutsche Bank Securities, JP Morgan, Barclays Capital, Dresdner Kleinwort (joint); Rule 144A/Regulation S; callable in one year at 102, then 101, par; to finance the acquisition of Eircom by Babcock & Brown; Dublin, Ireland-based Eircom operates fixed-line and mobile telephone networks, and is an internet service provider; roadshow starts in London on Aug. 7.

ON THE HORIZON

ACE CASH EXPRESS INC.: $175 million of senior unsecured notes due 2014; Bear Stearns; also $400 million credit facility and $178.8 million of equity; in connection with its leveraged buyout by JLL Partners Fund V, LP; Irving, Texas, retailer of financial services, including check cashing, short-term consumer loans, bill payment and prepaid debit card services; expected to close in the fourth quarter.

ARAMARK CORP.: $6.25 billion of debt financing to include senior and/or subordinated debt securities or, pending market conditions, an interim bridge facility, and/or a senior credit facility and/or an accounts receivable securitization facility; financing to be arranged by Goldman Sachs Credit Partners LP and J.P. Morgan Securities, Inc.; to fund the acquisition of the company by chairman and chief executive officer Joseph Neubauer together with funds managed by sponsors GS Capital Partners, J.P. Morgan Partners, Thomas H. Lee Partners and Warburg Pincus LLC; Philadelphia-based professional services company which provides food, hospitality, facility management services as well as uniform and work apparel.

BERRY PLASTICS CORP.: $425 million subordinated notes; also new $875 million credit facility via Credit Suisse, Deutsche Bank, Citigroup and JP Morgan; to fund tender for $335 million 10¾% senior subordinated notes due 2012, consent date Aug. 7, 2006, Deutsche Bank Securities Inc. is the dealer manager; Evansville, Ind., manufacturer and marketer of rigid plastic packaging products.

BUFFETS INC. (via a subsidiary): New senior subordinated debt, also bank debt, debt financing committed by Credit Suisse Securities and UBS Investment Bank; also real estate financing committed by affiliates of Fortress Investment Group; to fund the approximately $876 million acquisition of Greer, S.C.-based Ryan's Restaurant Group, Inc. by an investment partnership organized by Caxton-Iseman Capital, Inc. and the senior management of Buffets, transaction expected to be completed in fourth quarter of 2006; Buffets is an Eagan, Minn.-based owner and operator of buffet-style restaurants.

ENCORE MEDICAL CORP.: $215 million senior subordinated notes and $325 million senior credit facility; Bank of America, Credit Suisse to lead debt financing transactions (as a back-up for the bonds, the company has received a commitment from the two lead banks for a bridge loan); to help fund about $870 million LBO by Blackstone Capital Partners V LP (Blackstone has committed to provide up to $335 million in equity); subject to shareholder and regulatory approvals and completion of tender for all of an Encore subsidiary's outstanding 9¾% senior subordinated notes; Austin, Texas, orthopedic device company.

ENERGY PARTNERS LTD.: $730 million senior notes; Bank of America; with $1.3 billion credit facility to finance acquisition of Stone Energy Corp. and refinancing of stone debt; acquisition expected to close in fourth quarter; New Orleans-based independent oil and natural gas exploration and production company. Stone is a Lafayette, La.-based independent oil and gas company.

GEORGIA GULF CORP.: Senior and senior subordinated high-yield bonds to help fund the acquisition of Royal Group Technologies Ltd.; lead banks Merrill Lynch, Bank of America, Lehman Brothers; Atlanta-based manufacturer of commodity chemicals, vinyl resins and vinyl compounds.

HANESBRANDS INC.: $500 million of senior notes; Morgan Stanley, Merrill Lynch & Co.; also $2.6 billion senior secured credit facility; substantial portion of the proceeds from the term loan and the bond offering will be used to pay a dividend to Sara Lee prior to the spinoff; following the spinoff Winston-Salem, N.C.-based Hanesbrands will operate as a stand-alone, publicly traded, global apparel company; expected third quarter business.

INFOR GLOBAL SOLUTIONS: High-yield notes (Caa2) to refinance a $1.425 billion senior subordinated bridge facility;

also $2.4 billion credit facility via JP Morgan, Credit Suisse and Merrill Lynch & Co. joint bookrunners; part of financing to help fund the acquisitions of Systems Union Group and SSA Global, finance the combination of Infor and Extensity - which are both currently Golden Gate Capital portfolio companies - and to refinance debt at all four companies; Infor is an Alpharetta, Ga.-based software provider.

KINDER MORGAN INC.: $14.5 billion of funded debt; likely Goldman Sachs; help fund proposed public-to-private buyout by management and equity investors; Houston-based energy infrastructure provider.

MICHAELS STORES INC.: $1.4 billion high-yield bonds; and $3.4 billion credit facility via Deutsche Bank, JPMorgan, Bank of America and Credit Suisse; to help back its leveraged buyout by Bain Capital and The Blackstone Group, expected by year-end pending shareholder and regulatory approval; Irving, Texas, specialty retailer of arts, crafts, framing, floral, wall decor and seasonal merchandise for the hobbyist and do-it-yourself home decorator.

NCO GROUP INC.: $365 million of senior subordinated notes; also $550 million credit facility; Morgan Stanley and JP Morgan are the lead banks on the debt financing; (as a back up for the bonds the company has received a commitment for a $365 million subordinated increasing rate bridge loan); to help fund $1.26 billion LBO of the company by chairman and chief executive officer, Michael J. Barrist, in partnership with One Equity Partners II LP, expected to be completed in the fourth quarter; Horsham, Pa., provider of business process outsourcing services.

NEG OIL & GAS LLC: $200 million eight-year senior notes; Bear Stearns & Co., Citigroup (joint books); non-callable for four years; registered; proceeds, together with the concurrent initial public offering by NEG, Inc., will be used to repay part of the revolver, repay debt owed to American Real Estate Partners, LP and fund a distribution to American Real Estate Partners; Dallas independent oil and natural gas exploration production company; expected in September or October.

PEABODY ENERGY CORP.: New bond debt and term loan debt to help fund its acquisition of Australian independent coal company Excel Coal Ltd. for $1.34 billion plus assumed debt of about $190 million, targeted to close in the fourth quarter of 2006, subject to Excel shareholders approval, court approval, regulatory approval and other conditions; Peabody is a St. Louis-based private-sector coal company.

TROPICANA ENTERTAINMENT: $975 million in high-yield bonds; also $2.175 billion in credit facilities; Credit Suisse is the lead bank on the debt transactions; in connection with its acquisition of Aztar Corp.; a newly formed subsidiary of Columbia Entertainment, a Fort Mitchell, Ky., owner, developer and operator of hotel properties and casinos; expected to close by the end of 2006.

UNIVISION COMMUNICATIONS INC.: $2 billion high-yield bonds via Credit Suisse (Deutsche Bank, Bank of America Securities and Wachovia expected to be involved), also new $8.25 billion credit facility (Deutsche Bank left lead); to help back its leveraged buyout by Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and Saban Capital Group, transaction is valued at about $13.7 billion (total leverage for the transaction is 12.5-times); expected to close in the spring of 2007 pending shareholder and regulatory approvals; Univision is a Los Angeles-based Spanish-language media company.

WEST CORP.: $3.2 billion to $3.3 billion (approximate) of new debt including high-yield bonds; Deutsche Bank Securities, Lehman Brothers; also new credit facility; to fund LBO of the company by an investor group led by Thomas H. Lee Partners and Quadrangle Group in a deal that values the company at about $4.1 billion, including debt; Omaha, Neb.-based provider of outsourced communication solutions; transaction expected to close in the fourth quarter of 2006.

ROADSHOWS

Started July 26: FMG FINANCE PROPERTY (FORTESCUE METALS GROUP) $1.9 billion; Citigroup

Started July 27: TDS INVESTOR CORP. (TRAVELPORT) $1.4 billion; Lehman Brothers, Credit Suisse, UBS Investment Bank, Citigroup, Deutsche Bank Securities

Started July 28: SAVERS INC.: $140 million eight-year senior subordinated notes; CIBC World Markets

Started July 31 week: PT POLYFIN CANGGIH $75 million; Jefferies & Co.

Started Aug. 1: ALLIS-CHALMERS ENERGY INC. $80 million add-on to 9% senior notes due Jan. 15, 2014; RBC Capital Markets

Started Aug. 4: BROADVIEW NETWORKS HOLDINGS INC. $210 million; Jefferies & Co.

Starts Aug. 7: BCM IRELAND FINANCE LTD. (EIRCOM GROUP PLC) €350 million; Credit Suisse, Deutsche Bank Securities, JP Morgan, Barclays Capital, Dresdner Kleinwort

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