High Yield Calendar: $4.485 billion and €350 million deals being marketed

JAN. 25 WEEK

PH GLATFELTER CO.: $100 million notes mirroring its 7 1/8% senior notes due May 1, 2016 (Ba2/BB+); Credit Suisse; Rule 144A with registration rights; callable on May 1, 2011 at 105.563; proceeds, along with borrowings under a revolver and cash on hand, to fund the acquisition of Concert Industries Corp. by Glatfelter Canada Inc.; original $200 million issue priced at par in April 2006; York, Pa.-based specialty paper company; price talk 95.00 to 96.00; books close 11:30 a.m. ET Friday.

CENVEO CORP.: $375 million senior secured notes due 2018 (B2/B); Bank of America Merrill Lynch, Morgan Stanley & Co., RBS Securities Inc. (joint), Capital One SouthCoast, PNC Investments, US Bancorp (senior co's), CJS, Sterne Agee (co's); Rule 144A with registration rights; non-callable for four years; to repay bank debt; Stamford, Conn.-based manager and distributor of print and related products and services; price talk 8 7/8% area; pricing Friday morning.

READER'S DIGEST ASSOCIATION, INC.: $525 million senior secured first-lien floating-rate notes due 2017 (expected ratings B1/B+); J.P. Morgan Securities Inc., Bank of America Merrill Lynch, Credit Suisse Securities, Goldman Sachs & Co. (joint), Moelis (co); Rule 144A/Regulation S with registration rights; first call in year three at 103.0; to refinance debt; Pleasantville, N.Y., publishing and direct marketing company; price talk three-month Libor plus 650 bps area at 97 (3% Libor floor); books close 12 p.m. ET Friday; pricing Friday afternoon.

REGENT SEVEN SEAS CRUISES: $200 million second-lien senior secured notes due 2017; Barclays Capital Inc., HSBC Securities, Deutsche Bank Securities Inc. (joint), DnB Nor, DVB Bank, UBS Investment Bank (co's); Rule 144A/Regulation S with registration rights; non-callable for four years; to refinance debt and for general corporate purposes; Fort Lauderdale, Fla., cruise ship company; price talk 12% area; books close noon ET Friday, pricing shortly thereafter.

APPLETON PAPERS INC.: $300 million senior secured notes due 2015; (B1/B+); Broadpoint Gleacher Securities, Goldman Sachs & Co. (joint physical books); Rule 144A/Regulation S; proceeds, together with a new revolver, to repay existing bank debt; Appleton, Wis.-based paper manufacturer; pricing Jan. 29.

HUDSON PRODUCTS HOLDINGS INC.: $250 million senior secured second-lien notes due 2016; UBS Investment Bank (books), BNP Paribas Securities Corp. (co); Rule 144A/Regulation S for life; non-callable for three years; to prepay existing credit facility; Sugar Land, Texas-based heating and cooling company; roadshow started Jan. 26; pricing Jan. 29.

SNAI SPA: €350 million senior secured notes due 2017 (Ba3); BNP Paribas, UBS Investment Bank, UniCredit Bank (joint), Mediobanca (co); Rule 144A/Regulation S for life; non-callable for three years; to refinance debt, to fund the acquisition of VLT rights and for general corporate purposes; Florence, Italy-based gaming technology company; roadshow Jan. 25 in Milan, Jan. 26 in Paris, Jan. 27 in London and Edinburgh, Scotland, Jan. 28 in Amsterdam and Frankfurt.

FEB. 1 WEEK

THE MANITOWOC CO.: $400 million senior unsecured notes due 2018 (Caa1/BB-); J.P. Morgan Securities Inc., Deutsche Bank Securities Inc., Bank of America Merrill Lynch (joint), Natixis Bleichroeder, SunTrust Robinson Humphrey Inc., Wells Fargo Securities, Morgan Stanley & Co. (senior co's), BNP Paribas Securities Corp., Rabobank Securities, Scotia Capital (USA) Inc., Mizuho Securities USA Inc., Credit Suisse (co's); SEC registered; non-callable for four years; to repay bank debt; Manitowoc, Wis.-based manufacturer and seller of cranes and related products and foodservice equipment; roadshow Jan. 28-Feb. 2; pricing Feb. 2 or Feb. 3.

CROSSTEX ENERGY, LP and CROSSTEX ENERGY FINANCE CORP.: $700 million senior notes due 2018; Bank of America Merrill Lynch, BNP Paribas Securities Corp., RBC Capital Markets Corp., Wells Fargo Securities, UBS Investment Bank, Goldman Sachs & Co. (joint); Rule 144A with registration rights; non-callable for four years; to repay outstanding senior secured notes; Dallas-based natural gas gathering, transmission, processing and marketing company; roadshow Jan. 27-Feb. 3.

CNG HOLDINGS, INC. (CHECK 'N GO): $200 million senior secured notes due 2015 (B3/B); Jefferies; Rule 144A/Regulation S for life; non-callable for three years; to repay debt and general corporate purposes; Cincinnati-based alternative financial services company; roadshow Jan. 26-Feb. 4.

SONGA OFFSHORE SE: $200 million senior notes due 2017; Citigroup; Rule 144A/Regulation S; to refinance debt and for general corporate purposes; drilling contractor, based in Limassol, Cyprus; roadshow started Jan. 27; pricing late Feb. 1 week.

THE MCCLATCHY CO.: $875 million senior secured first-lien notes due 2017 (mid-to-low single B ratings expected); J.P. Morgan Securities Inc., Bank of America Merrill Lynch, Credit Suisse Securities (joint), Lazard (co); Rule 144A/Regulation S with registration rights; callable in three years at par plus 75% of coupon; to refinance bank debt and fund tender for 7 1/8% senior notes due 2011 and 15¾% senior notes due 2014; Sacramento, Calif.-based newspaper company; roadshow Jan. 28-Feb. 4; pricing expected Feb. 4.

MEDIA GENERAL, INC.: $350 million senior secured notes due 2017; Bank of America Merrill Lynch, SunTrust Robinson Humphrey Inc. (joint), RBS Securities Inc., Scotia Capital (USA) Inc., Daiwa Securities America Inc. (co's); Rule 144A with registration rights; non-callable for three years; to repay bank debt; Richmond, Va.-based provider of news, information and entertainment across multiple media platforms; roadshow Jan. 29-Feb. 4, pricing thereafter.

COMMUNITY EDUCATION CENTERS, INC.: $210 million senior secured notes due 2016; Jefferies & Co.; Rule 144A/Regulation S for life; non-callable for 3.5 years; to repay existing debt; West Caldwell, N.J.-based education and treatment services provider for local, state and federal corrections systems; roadshow Jan. 29-Feb. 5.

ON THE HORIZON

ANWORTH MORTGAGE ASSET CORP.: $600 million; Santa Monica, Calif.-based real estate investment trust focusing on mortgage-backed securities and residential mortgage loans

BIOSCRIP INC.: $225 million senior notes, via Jefferies; also $225 million credit facility (all in interest on the credit facility and the notes expected to be in the 9% area); to help fund acquisition of Critical Homecare Solutions for $343.2 million in cash and stock, expected to close March 31, 2010; BioScrip is an Elmsford, N.Y.-based specialty pharmaceutical health care organization.

BIRCH COMMUNICATIONS, INC.: $100 million senior secured notes due 2015 (B3/CCC+); Knight Libertas Capital Group; Rule 144A/Regulation S; non-callable for four years; to repay outstanding debt, to purchase outstanding warrants for its common stock and for general corporate purposes, including future acquisitions; Atlanta-based telecommunications carrier; expected January business.

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.; to refinance bridge loan related to LBO; Vernon Hills, Ill., provider of technology products and services.

CEDAR FAIR LP: $1.95 billion financing commitment via JPMorgan, Bank of America, Barclays Capital, UBS and KeyBanc Capital Markets, including $700 million high-yield bonds and $1.25 billion credit facility; to help fund $2.4 billion buyout by Apollo Global Management, expected to close during the second quarter of 2010; Sandusky, Ohio-based amusement-resort operator.

CWI: $1 billion of new bonds and credit facilities; to replace existing debt facilities and meet medium-term debt maturities; deal is related to separation of CWI and Worldwide into two companies separately listed on the London Stock Exchange, targeted for completion by March 31, 2010; CWI is a London-based telecommunications business.

DOLLAR FINANCIAL CORP.: $750 million; Berwyn, Pa.-based financial services company primarily serving unbanked and under-banked consumers.

IMS HEALTH INC.: $1 billion of senior unsecured notes; Goldman Sachs & Co.; to help fund buyout by TPG Capital and the CPP Investment Board, expected to close first quarter of 2010, subject to approval of IMS shareholders, regulatory approvals and customary closing conditions; Norwalk, Conn.-based provider of market intelligence to the pharmaceutical and health care industries.

INFORMA GLOBAL MARKETS: High-yield notes (Ba2/BB), size to be determined; JPMorgan; London-based real-time capital markets information services provider; originally scheduled as early September business, pending market conditions.

NORTH AMERICAN ENERGY PARTNERS, INC: C$200 million (approximate) notes; Edmonton, Alta.-based gas and oil field services provider.

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.

TREEHOUSE FOODS INC.: $400 million high-yield bonds, plus borrowings from existing revolver, and $100 million stock offering, to help fund purchase of Sturm Foods from HM Capital Partners for $660 million, expected to close first quarter of 2010; Bank of America Merrill Lynch, financial adviser to Treehouse; Westchester, Ill.-based food manufacturer servicing primarily the retail grocery and foodservice channels.

ROADSHOWS

Jan. 22-28: REGENT SEVEN SEAS CRUISES $200 million; Barclays Capital Inc., HSBC, Deutsche Bank Securities Inc.

Started Jan. 25: SNAI SPA €350 million BNP Paribas, UBS Investment Bank, UniCredit Bank

Jan. 25-29: READER'S DIGEST ASSOCIATION, INC. $525 million; J.P. Morgan Securities Inc., Bank of America Merrill Lynch, Credit Suisse Securities, Goldman Sachs & Co.

Jan. 26-Feb. 4: CNG HOLDINGS, INC. (CHECK 'N GO) $200 million; Jefferies & Co.

Started Jan. 26: HUDSON PRODUCTS HOLDINGS INC. $250 million; UBS Investment Bank

Jan. 27-Feb. 3: CROSSTEX ENERGY, LP and CROSSTEX ENERGY FINANCE CORP. $700 million; Bank of America Merrill Lynch, BNP Paribas Securities Corp., RBC Capital Markets Corp., Wells Fargo Securities, UBS Investment Bank, Goldman Sachs & Co.

Started Jan. 27: SONGA OFFSHORE SE $200 million; Citigroup

Pricing Jan. 29: APPLETON PAPERS INC. $300 million; Broadpoint Gleacher Securities, Goldman Sachs & Co.

Jan. 28-Feb. 2: THE MANITOWOC CO. $400 million; J.P. Morgan Securities Inc., Deutsche Bank Securities Inc., Bank of America Merrill Lynch

Jan. 28-Feb. 4: THE MCCLATCHY CO. $875 million; J.P. Morgan Securities Inc., Bank of America Merrill Lynch, Credit Suisse Securities

Jan. 29-Feb. 4: MEDIA GENERAL, INC. $350 million; Bank of America Merrill Lynch, SunTrust Robinson Humphrey Inc.

Jan. 29-Feb. 5: COMMUNITY EDUCATION CENTERS, INC. $210 million; Jefferies & Co.

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