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Published on 6/3/2010 in the Prospect News High Yield Daily.

High Yield Calendar: $4.295 billion deals being marketed

MAY 31 WEEK

SPECTRUM BRANDS INC.: $750 million first-priority senior secured notes due 2018 (B2/B/), upsized from $500 million; Credit Suisse, Bank of America Merrill Lynch, Deutsche Bank Securities Inc.; Rule 144A with contingent registration rights; non-callable for four years; 101% poison put; to fund the acquisition of Russell Hobbs, Inc., to refinance existing debt of both companies and for general corporate purposes; Madison, Wis.-based consumer products company; price talk 9¾% area yield; books close 10 a.m. ET Friday.

JUNE 7 WEEK

BWAY HOLDING CO.: $200 million senior notes due 2018 (B3/B-); Bank of America Merrill Lynch, Deutsche Bank Securities Inc., Barclays Capital Inc. (joint); Rule 144A with registration rights; non-callable for four years; 101% poison put; also $565 million senior secured credit facility; to help fund buyout of BWAY by Madison Dearborn Partners LLC, valued at $915 million, including the assumption of debt; Atlanta-based supplier of general line rigid containers; pricing early June 7 week.

TRIUMPH GROUP, INC.: $350 million senior unsecured notes due 2018 (Ba3/B+); RBC Capital Markets Corp. (left books), UBS Investment Bank (joint books), PNC Capital Markets (senior co), BB&T Capital Markets, USBank Securities (co's); Rule 144A with registration rights; non-callable for four years; three-year 35% equity clawback; 101% poison put; to partially fund the acquisition of Vought Aircraft; Triumph is a Wayne, Pa.-based designer, engineer, manufacturer and repairer of aircraft components and accessories; roadshow started June 2; pricing expected early June 7 week.

TRANSUNION CORP.: $645 million senior unsecured notes due 2018 (B3/B-); J.P. Morgan Securities Inc., Bank of America Merrill Lynch, Deutsche Bank Securities Inc., Credit Suisse; Rule 144A/Regulation S for life; non-callable for four years; to finance a portion of the purchase of TransUnion Corp. equity, in connection with the acquisition of the company by Madison Dearborn Partners, and to help repay debt; Chicago-based provider of credit and information management; roadshow June 3-9; pricing expected June 9.

DAY TO DAY

WILLBROS GROUP, INC.: $250 million senior secured second-lien notes due 2016 (B3/B+); UBS Investment Bank (left books), Credit Agricole CIB, Credit Suisse (joint books), Natixis Bleichroeder, Scotia Capital (co's); Rule 144A/Regulation S with registration rights; non-callable for three years; to partially fund acquisition of InfrastruX Group, Inc.; Houston-based provider of engineering, procurement and construction services to the oil and gas, refinery, petrochemical, and power industries; price talk 12% area.

CEDAR FAIR, LP/CANADA'S WONDERLAND CO./MAGNUM MANAGEMENT CORP.: $500 million senior unsecured notes due 2020 (expected ratings B2/B-); JPMorgan, Wells Fargo Securities, UBS Investment Bank (joint), KeyBanc Capital Markets, Fifth Third (co's); Rule 144A/Regulation S with registration rights; non-callable for five years; to repay bank debt; Sandusky, Ohio-based owner and operator of amusement parks; day-to-day.

CITGO PETROLEUM CORP. $1.5 billion senior secured notes (Ba2/BB+/) in tranches due 2017, non-callable for four years, and 2020, non-callable for five years; RBS Securities Inc., UBS Investment Bank, BNP Paribas Securities Corp., Credit Agricole CIB (joint); Rule 144A/Regulation S for life; both tranches have make-whole calls at Treasuries plus 50 bps; to repay debt and for general corporate purposes; Houston-based refiner and marketer of transportation fuels, lubricants, petrochemicals and other industrial products; day-to-day.

ON THE HORIZON

CAPELLA HEALTHCARE, INC.: $500 million senior notes due 2017 (B3/B); Bank of America Merrill Lynch, Citigroup Global Markets Inc., Barclays Capital Inc. (joint), Credit Agricole, Deutsche Bank Securities Inc., HFG Healthco Securities, Morgan Stanley & Co. Inc. (co's); Rule 144A with registration rights; non-callable for three years; 101% poison put; to repay bank debt; Nashville, Tenn.-based provider of health care services in primarily non-urban communities; roadshow concluded May 20; deal believed delayed due to market conditions.

CEGEDIM (/BB+/): Bonds expected, size and tenor to be announced following investor meetings mid-to-late May 17 week; Credit Agricole CIB, SG Corporate & Investment Banking; Paris-based health care technology company; roadshow completed.

CKE RESTAURANTS INC.: $600 million of senior secured second-priority notes and $100 million revolver via Morgan Stanley, Citigroup and RBC Capital Markets; to help fund its buyout agreement with Apollo Global Management, expected to be completed by the end of the second quarter of fiscal 2011; CKE Restaurants is a Carpinteria, Calif.-based owner of Carl's Jr. and Hardee's quick-service restaurant chains.

DYNCORP INTERNATIONAL INC.: $455 million senior unsecured notes and $715 million senior secured credit facility; Bank of America, Citigroup, Barclays Capital, Deutsche Bank Securities; to help fund its acquisition by Cerberus Capital Management LP, expected to close third or fourth quarter of 2010; Falls Church, Va.-based government services provider in support of U.S. national security and foreign policy objectives.

GENON: Up to $1.9 billion of new senior notes in connection with the formation of GenOn through the merger of Mirant Corp. and RRI Energy Inc., expected to close before 2010 year end; to repay approximately $1.2 billion Mirant debt and $650 million RPI debt; GenOn will be a Houston-based power producer.

GENTIVA HEALTH SERVICES INC.: $305 million senior unsecured notes due 2018, backed by $305 million 12-month senior bridge loan via joint lead arrangers Barclays Capital, Bank of America Merrill Lynch and SunTrust Robinson Humphrey; also $925 million credit facility; to fund acquisition of Odyssey HealthCare Inc., expected to close in third quarter of 2010, and refinance existing debt; Gentiva is an Atlanta-based home health care provider.

HAWKEYE GROWTH LLC (HAWKEYE RENEWABLES): Up to $150 million first-lien notes; PrinceRidge Group; proceeds, along with cash on hand, to refinance debt; Ames, Iowa-based ethanol producer.

INTERACTIVE DATA CORP.: New high-yield bonds and credit facility; Bank of America, Barclays Bank, Credit Suisse and UBS Investment Bank are the lead banks on the financing; to help fund $3.4 billion buyout by Silver Lake and Warburg Pincus, expected to be concluded by the end of the third quarter of 2010; Interactive Data is a Bedford, Mass.-based provider of financial market data.

INVENTIV HEALTH INC.: $275 million senior unsecured notes; also $600 million senior secured credit facility to be led by Citigroup; to fund the acquisition of the company by Thomas H. Lee Partners LP, expected to close in the third quarter of 2010; inVentiv is a Somerset, N.J.-based provider of end-to-end clinical development, launch and commercialization services to the pharmaceutical and health care industries.

ROADSHOWS

June 2-3: SPECTRUM BRANDS INC. $500 million; Credit Suisse, Bank of America Merrill Lynch, Deutsche Bank Securities Inc.

Pricing early June 7 week: BWAY HOLDING CO. $200 million; Bank of America Merrill Lynch, Deutsche Bank Securities Inc., Barclays Capital Inc.

Started June 2: TRIUMPH GROUP, INC. $350 million RBC Capital Markets Corp., UBS Investment Bank.

June 3-9: TRANSUNION CORP. $645 million; J.P. Morgan Securities Inc., Bank of America Merrill Lynch, Deutsche Bank Securities Inc., Credit Suisse.


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