E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 7/14/2010 in the Prospect News High Yield Daily.

High Yield Calendar: $1.15 billion, €470 million and £250 million deals being marketed

JULY 12 WEEK

CARE UK HEALTH & SOCIAL CARE PLC: £250 million senior secured notes due 2017 (B2); Citigroup, Royal Bank of Scotland, BNP Paribas, HSBC, ING (joint); non-callable for four years; to fund the LBO by Bridgepoint Capital; London-based independent provider of outsourced health care services to the National Health Service; roadshow July 12-15.

INAER AVIATION: €470 million senior secured notes due 2017 (B2/B); JPMorgan, Barclays Capital, BNP Paribas, KKR Capital Markets, Banco Santander; non-callable for three years; to refinance debt, to fund acquisition and for general corporate purposes; Madrid, Spain-base helicopter services company; roadshow July 12-15.

CALUMET SPECIALTY PRODUCTS PARTNERS, LP and CALUMET FINANCE CORP.: $450 million senior unsecured notes due 2020 (B3); J.P. Morgan Securities Inc., Bank of America Merrill Lynch (joint), Barclays Capital Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co., Wells Fargo Securities (co's); Rule 144A/Regulation S with registration rights; non-callable for five years; to repay senior secured term loan and repay a portion of the revolver; Indianapolis-based producer of specialty hydrocarbon products; roadshow July 12-16.

JULY 19 WEEK

INTERACTIVE DATA CORP. (IGLOO MERGER CORP.): $700 million senior notes due 2018 (Caal/B-); Barclays Capital Inc., Bank of America Merrill Lynch, Credit Suisse, UBS Investment Bank (joint), RBC Capital Markets, Banco Santander (co's); Rule 144A/Regulation S with registration rights; non-callable for four years; to help fund $3.4 billion buyout by Silver Lake and Warburg Pincus; Bedford, Mass.-based provider of financial market data; July 13-20.

EXPECTED MID-JULY BUSINESS

CEDAR FAIR, LP/CANADA'S WONDERLAND CO./MAGNUM MANAGEMENT CORP.: $500 million senior unsecured notes due 2020 (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; could be downsized.

EXPECTED JULY OR EARLY AUGUST

GENTIVA HEALTH SERVICES INC.: $305 million senior unsecured notes due 2018; Barclays Capital Inc. plus others; 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; late July or early August business.

ON THE HORIZON

CABLEVISION SYSTEMS CORP.: New high-yield bonds as part of approximately $1 billion in bank and bond debt financing to fund the $1.365 billion acquisition of Bresnan Communications, expected to close late 2010 or early 2011; Bank of America Merrill Lynch and Citigroup are the lead banks on the debt; Cablevision is a Bethpage, N.Y.-based telecommunications, media and entertainment company.

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.

ENERGYSOLUTIONS, INC.: High-yield bonds; J.P. Morgan Securities Inc.; size, structure and timing to be determined; also credit facility to launch at July 15 bank meeting; to refinance bank debt; Salt Lake City-based provider of nuclear services.

GENON ENERGY: $1.4 billion senior notes and $500 million term loan; to refinance $1.2 billion of debt at Mirant Corp. and $650 million of debt at RRI Energy Inc., in connection with the merger of Mirant and RRI, expected to close by the end of 2010; GenOn will be a Houston-based power producer.

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.

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.

MULTIPLAN INC.: New high-yield bonds; Bank of America Merrill Lynch, Barclays Capital, Credit Suisse; also new credit facility; to help fund the buyout by BC Partners and Silver Lake from the Carlyle Group and Welsh, Carson, Anderson & Stowe; New York-based provider of healthcare cost management solutions.

RADIO ONE, INC.: $100 million senior notes due 2017 (Caa2/CCC+); to finance the purchase of an increased stake in TV One; also new $400 million credit facility, via Deutsche Bank Securities Inc.; Lanham, Md.-based radio broadcaster targeting African American audiences in urban communities.

ROADSHOWS

July 12-15: CARE UK HEALTH & SOCIAL CARE PLC £250 million; Citigroup, Royal Bank of Scotland, BNP Paribas, HSBC, ING.

July 12-15: INAER AVIATION €470 million; JPMorgan, Barclays Capital, BNP Paribas, KKR Capital Markets, Banco Santander.

July 12-16: CALUMET SPECIALTY PRODUCTS PARTNERS, LP and CALUMET FINANCE CORP. $450 million; J.P. Morgan Securities Inc., Bank of America Merrill Lynch.

July 13-20: INTERACTIVE DATA CORP. (IGLOO MERGER CORP.) $700 million; Barclays Capital Inc., Bank of America Merrill Lynch, Credit Suisse, UBS Investment Bank.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.