High Yield Calendar: $1.8 billion and €855 million deals being marketed

June 22 Week

DOUGLAS AG €855 million notes, downsized from €1.055 billion, with proceeds shifted to the term loan: Kirk Beauty Zero GmbH €435 million senior secured notes due 2022 (B1), non-callable for three years, downsized from €635 million, price talk 6¼% to 6½%, Also Kirk Beauty One GmbH €420 million senior unsecured notes due 2023 (Caa1), non-callable for three years, price talk 8½% to 8¾%; Deutsche Bank (joint books, bill and deliver), Goldman Sachs, JPMorgan, UniCredit (joint books), BayernLB, CM-CIC, Commerzbank, Landesbank Baden-Wurttemberg (co’s); Rule 144A and Regulation S; to help fund the buyout of the company by CVC Capital Partners from Advent International and the Kreke family; Douglas is a Germany-based specialist retailer of beauty and personal care products; roadshow June 23-25; books close 5 a.m. ET Friday, pricing thereafter.

GEORGIA RENEWABLE POWER, INC.: $225 million first-lien senior secured notes due 2022 (expected rating Ba); Seaport Global (sole books); non-callable for three years; 10% annual amortization; 50% cash flow sweep; for general corporate purposes; Albany, Ga.-based renewable power generator; to be marketed during June 15 week.

MY ALARM CENTER, LLC and MY ALARM CENTER, INC.: $265 million senior secured notes due 2020 (B3); Imperial Capital; Rule 144A and Regulation S for life; callable after two years at par plus 75% of coupon; to refinance debt, terminate an interest rate swap, and general corporate purposes; Newtown Square, Pa.-based provider of security alarm and home automation solutions for primarily residential households in the United States; roadshow started June 9; New York investor luncheon June 11.

GLOBO PLC (via GLOBO MOBILE INC. subsidiary): $180 million five-year senior secured notes (anticipated ratings B2/B3); Imperial Capital LLC (sole books), ISM Capital LLP (international co-manager); Rule 144A and Regulation S without registration rights;, non-callable for the first two years after issue, and would be callable after that at par plus ¾ of the coupon, declining ratably every six months; proceeds to fund further acquisitions that support the company’s international expansion strategy in its key growth markets, repay existing debt, general corporate purposes; London-based international provider of enterprise mobility management, mobile solutions and software as a service; roadshow began June 19 in London, will include June 23 London breakfast and June 25 New York luncheon.

INTREPID AVIATION GROUP HOLDINGS, LLC: $125 million non-rated two-year senior notes; Jefferies LLC (sole books); Rule 144A and Regulation S for life; callable after one year at par plus 50% of coupon; for general corporate purposes including the purchase of aircraft; Stamford, Conn.-based commercial aircraft leasing company; roadshow through June 25; pricing June 22 week.

June 29 Week

DAE AVIATION HOLDINGS, INC. (STANDARDAERO): $485 million eight-year senior notes (Caa2/CCC); Jefferies LLC (left books), KKR Capital Markets, MCS Capital Markets (joint books); Rule 144A and Regulation S for life; non-callable for three years; to help fund the buyout of StandardAero by Veritas Capital from Dubai Aerospace Enterprise Ltd.; Scottsdale, Ariz.-based provider of aircraft engine maintenance, repair and overhaul services; roadshow through June 29, pricing thereafter.

SS&C TECHNOLOGIES HOLDINGS INC.: $500 million senior notes due 2023 (B3/B+); Morgan Stanley & Co., Deutsche Bank Securities Inc., BofA Merrill Lynch (joint), Barclays, Credit Suisse Securities (USA) LLC, Jefferies LLC (co's); Rule 144A with registration rights; non-callable for three years; to help fund its $2.7 billion acquisition of Advent Software Inc. and refinance existing debt at both companies; 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; roadshow started June 25; pricing early June 29 week.

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.
On The Horizon
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 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), J.P. Morgan (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; multinational consultancy, engineering and project management company based in London.
ASCENA RETAIL GROUP INC.: Possible senior secured or unsecured notes as part of $2.4 billion financing backing the acquisition of ANN Inc., expected to close in the second half of 2015; financing includes a $1.8 billion seven-year senior secured term loan via joint bookrunners Goldman Sachs & Co. and Guggenheim Securities LLC; Ascena is a Mahwah, N.J.-based specialty women's fashion retailer; ANN is a New York-based women’s specialty retail fashion company; financing disclosed in an 8-K filed May 18.
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.
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.
CHARTER COMMUNICATIONS INC. $13.8 billion notes: $6 billion senior secured first-lien notes and $3.5 billion senior unsecured notes; also CCO Holdings LLC $4.3 billion senior unsecured notes; all tranches bridged; also $16.7 billion bank loans; Goldman Sachs Bank USA, Bank of America Merrill Lynch, Credit Suisse Securities (USA) LLC, UBS AG and Deutsche Bank Securities Inc. are the lead banks on the financing; to finance acquisitions of Time Warner Cable Inc. and Bright House Networks, expected to close by the end of 2015; Charter expects secured bonds and loans to have investment-grade ratings from two of three ratings agencies; combination of Charter, Time Warner Cable and Bright House will create a broadband services and technology company serving 23.9 million customers in 41 states.
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 billion, 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.
MEDICAL PROPERTIES TRUST, INC. (Ba1/BBB-): Possible euro-denominated notes offer; Goldman Sachs, Credit Agricole CIB, Credit Suisse are the arrangers; Birmingham, Ala.-based real estate investment trust; deal pending market conditions.
OWENS-ILLINOIS INC.: $2.25 billion debt financing coming in bonds, with expected blended rate of approximately 5%, and loans with expected blended rate of approximately 4% (initial commitment is for term loans, and a bridge loan to be replaced with bonds); Deutsche Bank Securities Inc. is the lead bank on the financing; to fund the acquisition of Vitro, SAB de CV, expected to close by June 2016; Owens-Illinois is a Perrysburg, Ohio-based glass container manufacturer.
WIDEOPENWEST FINANCE LLC: Possible new senior notes offer (credit amendment would clear way for new notes); company is marketing a $1.411 billion term loan repricing launching May 7 via Credit Suisse Securities (USA) LLC; Denver-based provider of data, video and telephony services.
Roadshows
Started June 9: MY ALARM CENTER $265 million; Imperial.
Started June 12 week: GEORGIA RENEWABLE POWER $225 million; Seaport Global.
June 19-June 25: GLOBO PLC (GLOBO MOBILE INC.) $180 million; Imperial.
Pricing June 22 week: INTREPID AVIATION $125 million; Jefferies.
June 23-25: DOUGLAS €1.055 billion; Deutsche Bank, Goldman Sachs, JPMorgan, UniCredit.
Through June 29: STANDARDAERO $485 million; Jefferies, KKR, MCS.
Started June 25: SS&C TECHNOLOGIES $500 million; Morgan Stanley, Deutsche Bank, BofA Merrill Lynch.

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