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Published on 2/1/2011 in the Prospect News Canadian Bonds Daily.

Canadian Bonds Calendar

FEBRUARY

AXCAN INTERMEDIATE HOLDINGS INC.: $225 million offering of seven-year senior secured notes (/BB/); Bank of America Merrill Lynch, Barclays Capital, RBC Capital Markets and HSBC (joint bookrunners); Rule 144A with registration rights offering; 101% poison put; proceed to help finance the acquisition of Eurand NV and to pay off debt; Axcan is a Mont-Saint-Hilaire, Quebec-based pharmaceutical company focused on the treatment of gastrointestinal disorders; roadshow held the week of Jan. 24.

VERMILION ENERGY INC.: Roadshow for C$200 million five-year senior unsecured notes (DBRS: BB); Scotia Capital Inc. and CIBC World Markets Inc. (lead); TD Securities Inc., BMO Capital Markets Corp., RBC Capital Markets Corp., National Bank Financial Inc., Macquarie Capital Markets Canada Ltd., FirstEnergy Capital Corp., Citigroup Global Markets Inc., Dundee Securities Corp. and BNP Paribas (Canada) (co-managers); Canada call at 100 bps plus; change of control put at 101%; proceeds for repayment of existing debt and general corporate purposes; Calgary, Alta.-based oil and gas producer; roadshow Jan. 31-Feb. 3

ON THE HORIZON

CANADIAN SATELLITE RADIO HOLDINGS INC.: (parent company of XM CANADA): about C$130 million of senior notes; to help fund the all-stock merger of equals of XM Canada with Sirius Canada Inc., with a combined enterprise value of about $520 million, transaction subject to approval by CSR's shareholders (other than Sirius XM and its affiliates) at a special meeting anticipated to be held in February 2011.

FLAKEBOARD CO. LTD.: $225 million seven-year senior secured notes (B2/B/); J.P. Morgan Securities LLC, Goldman Sachs & Co.; non-callable for four years; to repay bank debt; Markham, Ont.-based manufacturer of composite panel products.


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