High Yield Calendar: $1.53 billion deals being marketed

Oct. 20 Week

FRESENIUS MEDICAL CARE US FINANCE II, INC. $900 million non-callable senior notes (expected ratings Ba2/BB+) in two tranches: Notes due Oct. 15, 2020 and notes due Oct. 15, 2024; Wells Fargo Securities LLC (left books), Citigroup Global Markets, Deutsche Bank Securities Inc., Scotia Capital, HSBC, SunTrust Robinson Humphrey (joint books), BBVA, BNP Paribas, DNB, MUFG, PNC Capital Markets, Santander, SMBC Nikko, TD Securities (co's); Rule 144A and Regulation S for life; to repay term loan A-2 under the 2012 credit agreement, as well as other short-term debt, to fund acquisitions and for general corporate purposes; kidney dialysis company; investor call 12:30 p.m. ET Thursday; pricing Friday morning.

Oct. 27 Week

ESSAR STEEL ALGOMA INC. $625 million secured notes: $350 million senior secured notes due 2019 (Ba3/B+), non-callable for two years, and $275 million junior secured notes due 2021 (B3/B-), non-callable for three years; Deutsche Bank Securities Inc. (left books), Goldman Sachs & Co., Jefferies LLC (joint books), Imperial Capital, Canaccord (co's); Rule 144A and Regulation S for life; 40% equity clawbacks during the non-call periods; 101% poison put for both tranches; also $350 million term loan; to refinance debt and for general corporate purposes; Sault Ste. Marie, Ont.-based manufacturer of hot and cold rolled steel products; roadshow started Oct. 21; pricing mid-Oct. 27 week, in conjunction with the term loan.

Expected Fourth Quarter Business

SCIENTIFIC GAMES CORP.: $3.45 billion notes backed by a one-year bridge loan led by J.P. Morgan Securities LLC: $750 million senior secured notes, $2.2 billion eight-year senior unsecured notes and $500 million 10-year senior unsecured notes; also $2,085,000,000 bank debt led by Bank of America Merrill Lynch, JPMorgan, Deutsche Bank Securities Inc.; to help fund the acquisition of Bally Technologies Inc. for about $5.1 billion, including about $1.8 billion of net debt, expected to close in early 2015; Scientific Games is a New York-based developer of technology-based gaming products and services; Bally Technologies is a Las Vegas-based provider of gaming products and services; expected September-October business.

NORCELL SWEDEN HOLDING 3 AB (COM HEM HOLDING AB): SEK 2.5 billion to SEK 4.5 billion senior secured notes due 2019 (/BB/) in tranches of fixed-rate notes and floating-rate notes, tranche sizes to be determined; Danske Bank, Nordea; to refinance Com Hem's senior secured notes due 2018 and general corporate purposes; Stockholm-based telecommunications company.

On The Horizon

Proposed debt financings in the competing bids to acquire FAMILY DOLLAR STORES, INC.:

DOLLAR GENERAL: $12.3 billion of debt including bonds and bank loans, backed by a commitment from Goldman Sachs Bank USA and Citigroup Global Markets Inc., to help fund the acquisition of Family Dollar Stores; Dollar General is a Goodlettsville, Tenn.-based discount retailer. Family Dollar is a Matthews, N.C.-based chain of discount stores. Dollar Tree is a Chesapeake, Va.-based discount store operator.

DOLLAR TREE, INC.: $2.8 billion of unsecured notes and $5.64 billion bank debt to help finance the acquisition of Family Dollar Stores, expected to close early 2015; JPMorgan Chase Bank, NA, Wells Fargo Bank, Bank of America, Royal Bank of Canada and U.S. Bank, has provided committed financing; Dollar Tree is a Chesapeake, Va.-based discount store operator; expected post-Labor Day business.

ACTUANT ELECTRICAL: $60 million senior subordinated notes; also $150 million credit facility led by RBC Capital Markets and NXT Capital; to help fund the buyout of the company by Sentinel Capital Partners from Actuant Corp.; Actuant Electrical is a Menomonee Falls, Wis.-based provider of products for the retail do-it-yourself, marine, industrial OEM and wholesale electrical markets.

ALBEA: $150 million five-year senior secured PIK toggle notes (expected ratings Caa2/CCC); JPMorgan, BofA Merrill Lynch (joint); non-callable for one year; to fund a dividend; Gennevilliers, France-based personal care products company.

AMEC PLC: Debt financing backing the £1.9 billion acquisition of Baar, Switzerland-based engineering conglomerate Foster Wheeler AG, expected to close during the second half of 2014; BofA Merrill Lynch served as exclusive financial adviser to AMEC; AMEC is a multinational consultancy, engineering and project management company based in London.

BUENA VISTA GAMING AUTHORITY: $220 million eight-year senior secured notes; Credit Suisse Securities (USA) LLC, BofA Merrill Lynch (joint); Rule 144A and Regulation S for life; callable in four years at par plus 50% of the coupon; annual mandatory redemption offer of 50% of available funds starting at 103; 101% poison put; to fund construction of the Buenavue Casino; Ione, Calif.-based tribal gaming firm.

CIT GROUP INC.: Up to $2 billion of new debt to fund its merger with IMB Holdco LLC, the parent company of OneWest Bank NA, a privately owned regional bank based in Pasadena, Calif.; J.P. Morgan Securities LLC is serving as financial adviser to CIT. Bank of America Merrill Lynch is representing IMB; CIT is a New York-based bank holding company.

GLOBAL CASH ACCESS HOLDINGS INC.: $400 million senior notes and $850 million credit facility; Bank of America Merrill Lynch and Deutsche Bank Securities Inc. are the joint lead arrangers and bookrunners; to fund the acquisition of Multimedia Games Holding Co. Inc., expected to close in early 2015; bonds are backed by a $400 million senior unsecured bridge loan priced at Libor plus 675 bps with a 1% Libor floor, with a 50 bps every three months until it hits a cap; Global Cash is a Las Vegas-based provider of fully integrated cash access solutions and related services to the gaming industry. Multimedia Games is an Austin, Texas-based developer and distributor of gaming technology.

GTECH SPA: Expected dollar- and euro-denominated high-yield, split-rated or investment-grade bonds backing $10.7 billion one-year senior unsecured bridge loan (45% euro-denominated and 55% dollar-denominated); Credit Suisse, Barclays, Citigroup (lead arrangers and joint bookrunners for the bridge), BNP Paribas, Credit Agricole CIB, Deutsche Bank, Intesa Sanpaolo, JPMorgan, Mediobanca, SG CIB, Scotia Capital, Royal Bank of Scotland, UniCredit (co-lead managers), Fifth Third Bank (manager); merger and acquisition financing (company announced a merger with Las Vegas-based International Game Technology, Inc., expected to be completed during the first half of 2015); leading commercial operator and provider of technology in the regulated worldwide gaming market; corporate headquarters will be in the United Kingdom, operating headquarters will be in Las Vegas, Providence and Rome.

KINDRED HEALTHCARE, INC.: $1.4 billion senior notes; committed financing from Citigroup Global Markets Inc. and J.P. Morgan Securities LLC; to fund the merger with Gentiva Health Services, Inc., an Atlanta-based provider of home health, hospice and community care services, in a transaction valued at $1.8 billion, expected to close in the first quarter of 2015; Kindred Healthcare is a Louisville, Ky.-based health care services company.

MILESTONE AVIATION GROUP LTD.: $350 million senior notes due 2017; J.P. Morgan Securities LLC, BofA Merrill Lynch, Deutsche Bank Securities Inc., SunTrust Robinson Humphrey Inc., Huntington Investment Co., Jefferies LLC; Rule 144A and Regulation S; to pay down secured debt, with any remaining proceeds for general corporate purposes; Dublin-based helicopter leasing company; pricing early in the Aug. 4 week.

NINE WEST HOLDINGS INC.: $455 million senior unsecured bridge loan or senior notes; also $720 million credit facility launched Feb. 14, including a $445 million term loan and $300 million unsecured term loan led by Morgan Stanley Senior Funding Inc., Jefferies Finance LLC and MCS Capital Markets LLC and $300 million asset-based revolver led by Wells Fargo Securities LLC and Bank of America Merrill Lynch; to help fund the buyout of parent company Jones Group Inc. by Sycamore Partners; marketer and wholesaler of apparel, footwear and accessories.

NORWEGIAN CRUISE LINE HOLDINGS LTD.: Bond and bank debt to help fund $3,025,000,000 acquisition of Prestige Cruises International Inc. expected to close in the fourth quarter of 2014; Barclays, J.P. Morgan Securities LLC, Deutsche Bank Securities Inc.; Norwegian Cruise Line is a Miami-based cruise company. Prestige is the parent company of Oceania Cruises and Regent Seven Seas Cruises.

PROSPECTOR OFFSHORE DRILLING SA: $100 million five-year second-lien bonds via subsidiary Prospector Finance II Sarl; DNB Markets, Pareto Securities, Swedbank (joint); proceeds along with funds from $270 million loan to fully finance the delivery of Prospector 5 drilling rig, which is expected to occur in early June, to refinance existing debt secured by the Prospector 1 drilling rig and for general corporate purposes; Luxembourg-based drilling contractor.

PROVIDENCE SERVICE CORP.: $200 million senior notes due 2021 (B3/B-); BofA Merrill Lynch, RBC Capital Markets, SunTrust Robinson Humphrey Inc. (joint); Rule 144A and Regulation S; non-callable for three years; proceeds to help fund the acquisition of Matrix Medical Network from Welsh Carson; Tucson, Ariz.-based provider of human social services.

ROOSTER ENERGY LTD.: $100 million senior secured notes due 2019 (Caa1/CCC+); Imperial Capital LLC (sole books), Cowen & Co. (co); Rule 144A and Regulation S with contingent registration rights; callable after two years at par plus 75% of the coupon, with premium declining ratably every six months; to refinance debt, to fund the cash portion of acquisition of Morrison Well Services, LLC and for general corporate purposes; Houston-based oil and natural gas exploration and production company.

SIGNATURE GROUP HOLDINGS, INC.: $300 million senior secured bonds; private; proceeds, along with proceeds from a registered offering of common stock, to fund the acquisition of Global Recycling and Specification Alloys (GRSA) business from Aleris Corp.; Deutsche Bank Securities Inc. acted as exclusive financial adviser Signature, Credit Suisse and KeyBanc Capital Markets Inc. acted as financial advisers to Aleris; Signature is a Sherman Oaks, Calif.-based holding company that invests primarily in the U.S. industrial and commercial marketplace; GRSA is a Cleveland-based recycled aluminum company; investor conference call 8:30 a.m. ET Oct. 21.

SILVERLEAF RESORTS, INC.: $175 million senior secured notes due 2019; Deutsche Bank Securities Inc.; non-callable for three years; to pre-fund development of vacation ownership inventory, to refinance a portion of the company’s existing debt, to pay a dividend to the sponsor; Dallas-based resort operator.

TRAVELPORT LUXCO: $500 million senior unsecured bridge loan which may be replaced by or exchanged for high-yield bonds; also $2.4 billion credit facility via Deutsche Bank Securities Inc. and Morgan Stanley Senior Funding Inc. scheduled to launch at an Aug. 4 bank meeting; to refinance the first- and second-lien term loans and some of the senior floating-rate notes due 2016, 13 7/8% senior notes due 2016, 11 7/8% senior subordinated notes due 2016, 11 7/8% dollar senior subordinated notes due 2016 and 10 7/8% senior subordinated euro notes due 2016 issued by Travelport LLC and Travelport Holdings, Inc.; Atlanta-based provider of transaction processing services to the travel industry.

VALEANT PHARMACEUTICALS INTERNATIONAL INC.: $12.35 billion notes: $2.75 billion senior secured notes backed by a one-year secured bridge loan priced at Libor plus 425 bps with a 1% Libor floor, and $9.6 billion senior unsecured notes backed by a one-year unsecured bridge priced at Libor plus 550 bps with a 1% Libor floor; also $7 billion term loans; Barclays, RBC, MUFG, Deutsche Bank Securities Inc., DNB Markets Inc. and HSBC Securities (USA) Inc. are joint lead arrangers and bookrunners on the term loans and bridge loans; to fund its proposed exchange offer for the common stock of Allergan Inc., expected to go before Allergan shareholders on Aug. 15, 2014; Valeant is a specialty pharmaceutical company with U.S. headquarters in Bridgewater, N.J., and international headquarters in Laval, Quebec; Allergan is an Irvine, Calif.-based pharmaceutical company.

Roadshows

Pricing Oct. 24: FRESENIUS $900 million; Wells Fargo, Citigroup, Deutsche Bank, Scotia, HSBC, SunTrust.

ESSAR STEEL ALGOMA $625 million; Deutsche Bank, Goldman Sachs, Jefferies.

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