High Yield Calendar: $1.72 billion and ¥60 billion deals being actively marketed

JUNE 1 WEEK

COMPAGNIE GENERALE DE GEOPHYSIQUE - VERITAS: $300 million (approximate) senior notes due 2016 (existing ratings Ba3/BB-); Credit Suisse, BNP Paribas Securities Corp.; Rule 144A; to replace cash used to repay $100 million of senior bank debt, fund $83 million of scheduled debt repayments in 2009 and repay $50 million of other bank debt, and for general corporate purposes, including other debt repayment; Paris-based provider of geophysical equipment and services; pricing expected Tuesday.

GRAPHIC PACKAGING INTERNATIONAL INC.: $245 million senior notes due 2017 (B3/B-); Banc of America Securities LLC, J.P. Morgan Securities Inc., Goldman Sachs & Co. (joint); Rule 144A; non-callable for four years; to fund tender for about $225 million 8½% senior notes due August 2011; Marietta, Ga.-based paperboard packaging company; investor call 12:30 p.m. ET on Tuesday; pricing Tuesday or Wednesday.

AFFINION GROUP INC.: $125 million 10 1/8% senior non-fungible mirror notes due Oct. 15, 2013 (expected ratings B2/B-); Banc of America Securities LLC, Deutsche Bank Securities Inc. (joint); Rule 144A with registration rights; callable on Oct. 15, 2009 at 105.063; for general corporate purposes, which could include working capital, capital expenditures and the repurchase of the company's debt or the holding company's debt; original $270 million priced at 98.662 to yield 10 3/8% on Oct. 4, 2005; Norwalk, Conn.-based direct marketer of membership, insurance and package enhancement products; investor call Tuesday; pricing middle of June 1 week.

WESTERN REFINING INC.: $600 million senior secured notes due 2017; Banc of America Securities LLC, Goldman Sachs & Co., RBS Securities Inc., Wachovia Securities LLC (joint), BBVA Securities Inc., BNP Paribas Securities Corp., Capital One Southcoast, Comerica Investments, Natixis Bleichroeder (co's); Rule 144A; non-callable for four years; to repay term loan; El Paso, Texas-based independent crude oil refiner; roadshow Tuesday-Thursday, pricing thereafter.

VALEANT PHARMACEUTICALS INTERNATIONAL: $300 million senior unsecured notes due 2016; Goldman Sachs & Co. (left lead), UBS Investment Bank (joint); J.P. Morgan Securities Inc., Citigroup Global Markets Inc., Wedbush Morgan (co's); Rule 144A with registration rights; non-callable for three years; to redeem or retire debt and/or equity securities; based in Aliso Viejo, Calif.; roadshow starts Monday; pricing late June 1 week.

JUNE 8 WEEK

WALLACE THEATER HOLDINGS INC.: $150 million senior secured notes due 2013; Jefferies & Co.; Rule 144A; non-callable for two years; two-year 35% equity clawback; change-of-control put at 101%; to repay outstanding debt under the existing credit facilities and for general corporate purposes; Portland, Ore.-based motion picture exhibitor; roadshow, started June 1, is scheduled to run until the middle of the June 8 week.

EARLY JUNE BUSINESS

SOFTBANK CORP.: ¥60 billion 5.1% two-year unsecured bonds (existing Ba2/existing BB//confirmed BBB from the Japan Credit Rating Agency) to be priced at par; Mizuho Securities Co., Ltd., Daiwa Securities SMBC Co. Ltd., SBI Securities Co., Ltd.; to repay debt; Tokyo-based telecom; to be marketed May 27 to June 9; settlement expected June 11.

ON THE HORIZON

CDW CORP.: $1.94 billion notes: $890 million senior unsecured cash-pay notes due 2015 (Caa1/CCC+), $300 million senior unsecured PIK toggle notes due 2015 (Caa1/CCC+) and $750 million senior subordinated notes due 2017 (Caa2/CCC+); J.P. Morgan Securities Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. Inc.; to refinance bridge loan related to LBO; Vernon Hills, Ill., provider of technology products and services.

GENERAL MOLY: $540 million to $700 million debt financing including high-yield bonds, leveraged loans and possibly convertibles; Credit Suisse and Barclays, arrangers; to fund the Mt. Hope molybdenum project, located in central Nevada; also $240 million to $400 million of equity; formerly Idaho General Mines, General Moly is a Lakewood, Colo.-based molybdenum mineral development, exploration and mining company.

NORTH AMERICAN ENERGY ALLIANCE: $325 million senior unsecured notes; Barclays Capital Inc.; also $545 million credit facility (BB+); to help back the roughly $1.477 billion acquisition of 1,706 megawatts of generation projects by Industry Funds Management from Consolidated Edison Inc.

RIVERDEEP INTERACTIVE LEARNING USA: $820 million senior subordinated notes; Credit Suisse, Citigroup (joint); proceeds along with $1.87 billion senior bank debt, $750 million mezzanine debt and $1.5 billion equity to fund the acquisition of Houghton Mifflin by Riverdeep from Thomas H. Lee Partners, Bain Capital Partners, LLC and Blackstone Group for $3.4 billion; Riverdeep, based in Dublin, Ireland, is a publisher of interactive products for the consumer and school markets.

TRIDENT RESOURCES: New senior unsecured notes and new revolver in conjunction with IPO led by Deutsche Bank Securities Inc. and Jefferies & Co.; to recapitalize the company and repay debt; Calgary, Alta.-based natural gas production company.

ROADSHOWS

Starts June 1: VALEANT PHARMACEUTICALS INTERNATIONAL $300 million; Goldman Sachs & Co.

Investor call June 2: GRAPHIC PACKAGING INTERNATIONAL INC. $245 million; Banc of America Securities LLC, J.P. Morgan Securities Inc., Goldman Sachs & Co.

Pricing middle of June 1 week: AFFINION GROUP INC. $125 million; Banc of America Securities LLC, Deutsche Bank Securities Inc.

Started June 1: WALLACE THEATER HOLDINGS INC. $150 million; Jefferies & Co.

June 2-4: WESTERN REFINING INC. $600 million; Banc of America Securities LLC, Goldman Sachs & Co., RBS Securities Inc., Wachovia Securities LLC.

Offered May 27-June 9: SOFTBANK CORP.: ¥60 billion; Mizuho Securities Co., Ltd., Daiwa Securities SMBC Co. Ltd., SBI Securities Co.

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