High Yield Calendar: $445 million deals being marketed

Expected Sept. 7 Week Business

FRONTIER COMMUNICATIONS CORP. Expected $6.5 billion in bonds in multiple tranches, reduced from expected $8 billion with the announcement of a $1.5 billion term loan on Aug. 13, 2015; J.P. Morgan Securities LLC; to help finance its $10.5 billion purchase of wireline assets from Verizon; Stamford, Conn.-based provider of rural telecommunications services; expected to launch Sept. 9.

Expected September Business

CHARTER COMMUNICATIONS INC.: $3.5 billion senior notes; Credit Suisse Securities (USA) LLC; to fund acquisition of Time Warner Cable Inc.; Stamford, Conn.-based provider of cable, internet and phone service.

BEACON ROOFING SUPPLY INC.: $300 million eight-year senior notes and $1.15 billion credit facility; Citigroup Global Markets Inc., Wells Fargo Securities LLC; to help fund acquisition of Dallas-based roofing supplies wholesale distributor Roofing Supply Group, expected to close Oct. 1, 2015; Herndon, Va.-based distributor of residential and commercial roofing materials and complementary building products.

DISH NETWORK CORP.: $3.3 billion high-yield bonds to provide a portion of the funding for the acquisition of 25 MHz of AWS-3 wireless spectrum (in an Aug. 17, 2015 memorandum the U.S. Federal Communications Commission ruled that Northstar Wireless, LLC and SNR Wireless, LLC, in which DISH holds 85% equity interests, were ineligible for approximately $3.3 billion of business credits extended to them in the 2014 spectrum auction, as neither firm qualified as a “very small business,” hence DISH must put up the approximately $3.3 billion in cash or standby letters of credit within 30 days of the Aug. 17 memorandum; underwriters to be announced; Englewood, Colo.-based provider of satellite TV; expected September business.

MALLINCKRODT PLC: $1.1 billion notes; Deutsche Bank; to help fund the acquisition of Therakos Inc. from Gores Group for about $1,325,000,000, expected to close in the latter part of the third quarter of 2015, and to refinance Therakos’ existing debt; Therakos is a West Chester, Pa.-based immunotherapy company; Mallinckrodt is a U.K.-based specialty biopharmaceutical company with U.S. headquarters in St. Louis.

PRIME HEALTHCARE SERVICES, INC.: $700 million senior notes due 2023 (B3/B+); Wells Fargo Securities LLC (left books), Barclays (joint books), BBVA, Capital One, CIT Group (co's); Rule 144A and Regulation S for life; callable after three years at par plus 75% of coupon; to fund acquisition pipeline, refinance credit facility, fund a special dividend; Ontario, Calif.-based owner and operator of acute care hospitals; investor call July 21; price talk 7˝% area.

In The Market

GLOBO PLC (via GLOBO MOBILE INC. subsidiary): $180 million five-year senior secured notes (B2/BB-/BBB+); 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 started June 19; deal remains in the market, according to a July 28 press release.

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, to terminate an interest rate swap and for 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.

On The Horizon

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.

BERRY PLASTICS GROUP INC.: New bonds and bank debt, mix to be determined pending market conditions, to fund the acquisition of Avintiv, expected to close by the end of 2015; Credit Suisse and Barclays acted as financial advisers for Berry Plastics, Citigroup and BofA Merrill Lynch acted as financial advisers for Avintiv; Berry Plastics is an Evansville, Ind.-based plastic packaging manufacturer; Avintiv is a Charlotte, N.C.-based producer of specialty materials used in infection prevention, personal care and high performance solutions.

CENTENE CORP. $2.7 billion debt financing, to consist primarily of senior notes, via Wells Fargo, NA; proceeds, along with cash, to fund the acquisition of Los Angeles-based publicly traded managed care organization Heath Net, Inc. in a transaction valued at $6.8 billion, including the assumption of about $500 million of debt, expected to close by early 2016; Centene is a diversified, multi-national health care enterprise.

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.

JARDEN CORP.: $600 million senior notes and incremental term loans (loans to be led by Barclays) mix to be determined by market conditions; proceeds, along with proceeds from the sale of 14 million shares of common stock and cash on hand, to help fund acquisition of Waddington Group Inc., expected to close during the third quarter of 2015 (company received a commitment for up to $500 million of incremental first-lien term loans and up to $850 million in senior unsecured bridge loans, however the debt commitment will be reduced on a dollar-for-dollar basis by the proceeds from the stock offering and the senior notes issuance); Jarden is a Boca Raton, Fla.-based diversified consumer products company; Waddington is a Covington, Ky.-based manufacturer and marketer of disposable tableware for commercial, foodservice and retail markets.

KONECRANES TEREX PLC: $1.15 billion senior unsecured bridge loan and $1.65 billion senior secured credit facility (euro portion of the term loan can be sized at up to €450 million); Credit Suisse Securities (USA) LLC; to help fund the merger of Terex Corp. and Konecranes plc, expected to close in the first half of 2016, to refinance bank debt at both companies; Konecranes is a Finland-based provider of lifting solutions as well as services for lifting equipment and machine tools; Terex is a Westport, Conn.-based diversified equipment manufacturer.

NN INC.: $300 million senior notes backed by $300 million senior unsecured bridge loan priced at Libor plus 725 bps with a 1% Libor floor, spread increases by 50 bps every 90 days until it hits a specified cap; via KeyBanc Capital Markets Inc., SunTrust Robinson Humphrey Inc. and Regions Capital Markets; also $625 million senior secured credit facility; KeyBanc left lead manager on the credit facility, SunTrust left lead manager on the bridge loan; to help fund acquisition of Precision Engineered Products Holdings Inc., expected to close by the end of October 2015, and refinance existing debt; NN is a Johnson City, Tenn.-based manufacturer and supplier of high precision metal bearing components, industrial plastic and rubber products and precision metal components; Precision Engineered Products is an Attleboro, Mass.-based manufacturer of highly engineered precision customized solutions serving the medical, electrical, transportation and aerospace end markets.

SENSATA TECHNOLOGIES HOLDING NV: $1 billion financing commitment from BofA Merrill Lynch to be taken out primarily with senior notes; to fund the acquisition of the sensing portfolio of Custom Sensors & Technologies Inc., expected to close in the fourth quarter of 2015 or early 2016; Sensata is an Attleboro, Mass.-based supplier of sensing, electrical protection, control and power management services; implied interest expense of the financing is about 5˝%.

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.

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.

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