High Yield Calendar: $3.675 billion, €650 million being marketed

May 4 Week

AVATION PLC: $150 million of five-year notes; Seaport Global Securities LLC, R.W. Pressprich & Co. and Development Bank of Singapore; callable after three years; London-based commercial aircraft leasing firm; middle of week of May 4.

CHEMOURS CO. $2.5 billion senior notes: $1,125,000,000 and €350 million eight-year notes with three years of call protection, also $1 billion 10-year notes with five years of call protection; Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, BofA Merrill Lynch, Barclays, Citigroup Global Markets Inc., Goldman Sachs & Co. (joint); Rule 144A and Regulation S with registration rights; three-year 35% equity clawback; 101% poison put; special call: if the spinoff is not completed on or before Nov. 30, 2015, notes are callable at par until Aug. 15, 2015, thereafter at 101; to partially fund a dividend to DuPont and general corporate purposes; Wilmington, Del.-based performance chemicals company; European roadshow started April 24, U.S. roadshow starts April 29; pricing early May 4 week.

PBF LOGISTICS LP and subsidiary PBF LOGISTICS FINANCE CORP.: $300 million eight-year senior notes; Deutsche Bank Securities Inc. (left), Citigroup Global Markets Inc. (joint global coordinators and bookrunners), BofA Merrill Lynch, MUFG, RBC Capital Markets Corp., Wells Fargo Securities LLC (joint bookrunners), Barclays, BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, UBS Securities LLC (co-managers); Rule 144A, Regulation S with registration rights; non-callable for three years, equity clawback for 35%, change-of-control put at 101; Parsippany, N.J. fee-based master limited partnership developed to own or lease, operate, develop and acquire crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets; proceeds to repay a portion of revolving credit facility borrowings, to pay part of any cash consideration payable by PBF Logistics in the proposed acquisition of the Delaware City Products Pipeline and Truck Rack from its ultimate corporate parent, PBF Energy Inc., general partnership purposes; roadshow starts May 4; pricing expected at the end of the week.

PETRA DIAMONDS US$ TREASURY PLC: $300 million senior secured second-lien notes due 2020 (B2/B+); RBC Capital Markets (joint global coordinator, active bookrunner, bill and deliver), Barclays (joint global coordinator, active bookrunner), Rand Merchant Bank (passive bookrunner); Rule 144A and Regulation S for life; callable after two years at par plus 50% of coupon; two-year 35% equity clawback at par plus 35% of coupon; 101% poison put; to repay bank debt and for general corporate purposes, including funding the new plant at the Cullinan mine; Jersey, Channel Islands-based diamond mining group; roadshow starts April 27; early guidance mid 8s; pricing week of May 4.

QUINTILES TRANSNATIONAL HOLDINGS, INC.: $800 million eight-year senior notes; Barclays (bill and deliver), J.P. Morgan Securities LLC, Morgan Stanley & Co. Inc., Citigroup Global Markets, Inc., Goldman Sachs & Co., Wells Fargo Securities LLC (joint books), BNP Paribas Securities Corp., SunTrust Robinson Humphrey, Inc. (co-managers); Rule 144A and Regulation S for life; non-callable for three years of call protection, first call at par plus 75% of the coupon; equity clawback for 40%, change-of-control put at 101%; investment-grade-style covenants; also $1.75 billion credit facility; Research Triangle Park, N.C.-based provider of biopharmaceutical development and commercial outsourcing services; proceeds to repay existing credit facility and for general corporate purposes, including corporate transactions and share repurchases; roadshow on Monday in New York and on Tuesday in Boston, with pricing to follow.

SOCIETA ITALIANA PER CONDOTTE D'ACQUA SpA: €300 million senior notes due 2022 (expected ratings B2/B+); Credit Suisse (global coordinator, bill and deliver), UniCredit (global coordinator), Banca IMI, Banca Akros, Barclays (joint books); Rule 144A and Regulation S for life; non-callable for three years; to refinance debt; Rome-based construction company; roadshow April 27-May 1; pricing expected May 4 week.

Expected Early May Business

STERIGENICS-NORDION HOLDINGS LLC: Expected $450 million senior notes expected to be led by J.P. Morgan Securities LLC; to help fund the company’s recapitalization with Warburg Pincus and GTCR; financing also includes $1.2 billion credit facility ($1.05 billion term loan launched at an April 27 bank meeting); Oak Brook, Ill.-based provider of contract sterilization services, gamma technologies and medical isotopes; expected late-April, early May business.

Expected First Half 2015 Business

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.

TTM TECHNOLOGIES, INC.: $350 million senior secured second-lien notes due 2023 (expected ratings Caa1/B-); J.P. Morgan Securities LLC, Barclays (joint), RBS Securities Inc., HSBC (co’s); Rule 144A and Regulation S; non-callable for three years (special call provision allows the issuer to redeem 10% of the notes annually at 103 during the non-call period); upon release from escrow, proceeds, along with new bank loan, will be used to fund the acquisition of Viasystems Group, Inc. and to repay debt; Costa Mesa, Calif.-based printed circuit board manufacturer; price discussions taking place in the 11s.

TENET HEALTHCARE CORP. $2 billion bridge loans: $500 million senior secured bridge loan and a $1.5 billion senior unsecured bridge loan, to be taken out with senior secured and senior unsecured notes during the second quarter of 2015; Barclays; to create a joint venture with Welsh, Carson, Anderson & Stowe and United Surgical Partners International, combining Tenet’s and United Surgical’s short-stay surgery and imaging-center assets, and to fund the acquisition of Aspen Healthcare Ltd. from Welsh Carson; commitments due March 31 (moved ahead from April 2).

On The Horizon

A. SCHULMAN, INC.: $375 million senior notes (B3/B+); to help fund the acquisition of Evansville, Ind.-based global composite plastics company Citadel Plastics Holdings, Inc., expected to close in the third quarter of 2015, and refinance debt; financing also includes $425 million and €145 million term loan B, $200 million term loan A and $300 million revolver via J.P. Morgan Securities LLC; global plastics supplier, based in Fairlawn, Ohio.

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 BEAUTY HOLDINGS SA: €45 million add-on to 8¾% senior secured notes due Nov. 1, 2019 (expected ratings B2/B); BofA Merrill Lynch (joint books, bill and deliver), JPMorgan (joint books); Rule 144A/Regulation S; callable on Nov. 1, 2015 at 106.563; for general corporate purposes; Gennevilliers, France-based producer of plastic packaging used by the cosmetics industry; original €200 million issue priced at par in October 2012; add-on notes will be fungible with the original notes.

AMEC PLC: $1.91 billion bridge facility backing the 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.

BALL CORP. £3.3 billion unsecured bridge loan via Deutsche Bank Securities Inc., Bank of America Merrill Lynch, Goldman Sachs Bank USA, Keybanc Capital Markets Inc., RBS Securities Inc. and Rabobank, to be taken out with bond and bank debt; to help fund its acquisition of London-based metal beverage can maker Rexam plc, expected to close in the first half of 2016; Ball is a Broomfield, Colo.-based provider of packaging solutions.

BLACKBOARD INC.: $75 million add-on to 7¾% senior notes due Nov. 15, 2019 (Caa1/CCC+); BofA Merrill Lynch, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC (joint); callable Nov. 15, 2015 at 105.813; to help fund the acquisition of educational website Schoolwires; Blackboard is a Washington, D.C.-based provider of enterprise software applications and related services to the education industry; unofficial price talk 93; original $365 million issue priced at par in October 2013.

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.

BUILDERS FIRSTSOURCE INC.: $750 million in unsecured notes backed by a bridge, also $1.35 billion credit facility; to help fund its acquisition of ProBuild Holdings LLC, expected to close in the second half of 2015; Citigroup and Deutsche Bank are financial advisors to Builders FirstSource; Credit Suisse is financial advisor to ProBuild; Builders FirstSource is a Dallas-based supplier and manufacturer of structural and related building products for residential new construction; ProBuild is a Denver-based supplier of lumber and building materials to professional builders and contractors.

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.

ENTRANS INTERNATIONAL, LLC and ENTRANS INTERNATIONAL FINANCE CORP.: $250 million senior secured notes due 2020 (B2/B); Credit Suisse Securities (USA) LLC (sole); Rule 144A and Regulation S for life; callable after three years at par plus 50% of the coupon; three-year 40% equity clawback; 101% poison put; to refinance debt; Cleveland, Tenn.-based manufacturer of tanker trailers and industrial equipment; roadshow took place in late 2014; price talk 8¾% to 9%, including OID.

FRONTIER COMMUNICATIONS CORP.: Debt and/or equity, expected to be comprised mostly of unsecured debt, to fund the acquisition of certain wireline operations from Verizon Communications Inc., expected to close in the first half of 2016; company has received two bridge loans totaling $11,594,000,000, via J.P. Morgan Securities LLC, Bank of America Merrill Lynch and Citigroup Global Markets Inc., to back the financing; Frontier is a Stamford, Conn.-based wireline telecommunications provider.

LIFE TIME FITNESS INC.: $800 million senior notes, also $1,947,000,000 credit facility; to help fund acquisition by Leonard Green & Partners and TPG; Deutsche Bank Securities Inc., Goldman Sachs Bank USA, Jefferies Finance LLC, BMO Capital Markets, RBC Capital Markets, Macquarie Capital (USA) Inc., Nomura Securities International Inc., Mizuho Bank and U.S. Bank are the debt financing sources; closing expected in third quarter; Chanhassen, Minn.-based operator of sports, professional fitness, family recreation and spa destinations.

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.

OPTIMA SPECIALTY STEEL, INC.: $300 million senior secured notes due 2019 (single B ratings expected); Deutsche Bank Securities Inc. (left books), Jefferies LLC (joint books), PNC Capital Markets (co); Rule 144A and Regulation S for life; non-callable for three years; 35% equity clawback during the non-call period; 101% poison put; to refinance debt and for general corporate purposes; Miami-based specialty steel manufacturer.

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.

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.

SS&C TECHNOLOGIES HOLDINGS INC.: $500 million senior unsecured notes via Morgan Stanley Senior Funding Inc. (left lead) and Deutsche Bank Securities Inc.; proceeds (along with $2.63 billion senior secured credit facility via Deutsche Bank (left lead) and Morgan Stanley, consisting of $150 million revolver, a $2.08 billion term loan B-1 and a $400 million term loan B-2) to help fund its $2.7 billion acquisition of Advent Software Inc. and refinance existing debt at both companies; backing the notes is a commitment for a $500 million senior unsecured bridge loan; other funds for the transaction to come from cash on hand and about $400 million of equity, backed by a commitment for a $400 million senior secured bridge loan; Advent acquisition (equating to $44.25 per share plus the assumption of debt) expected to close in the second quarter; SS&C is a Windsor, Conn.-based provider of financial services software and software-enabled services. Advent is a San Francisco-based provider of software and services for the investment management industry.

Roadshows

Started April 24: CHEMOURS CO. $2.5 billion; Credit Suisse, JPMorgan, BofA Merrill Lynch, Barclays, Citigroup, Goldman Sachs.

Started April 27: PETRA DIAMONDS $300 million; RBC, Barclays, Rand Merchant Bank.

April 27-May 1: CONDOTTE D'ACQUA €300 million; Credit Suisse, UniCredit, Banca IMI, Banca Akros, Barclays.

Starts May 4: PBF LOGISTICS LP and subsidiary PBF LOGISTICS FINANCE CORP. $300 million; Deutsche Bank Securities Inc., Citigroup Global Markets Inc.

May 4-5: QUINTILES TRANSNATIONAL HOLDINGS, INC.: $800 million eight-year senior notes; Barclays, J.P. Morgan Securities LLC, Morgan Stanley & Co. Inc., Citigroup Global Markets, Inc., Goldman Sachs & Co., Wells Fargo Securities LLC.

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