High Yield Calendar: $725 million deals being marketed

In the Market

KRATON POLYMERS LLC/KRATON POLYMERS CAPITAL CORP..: $425 million senior notes due 2023 (B3/CCC+); Credit Suisse Securities (USA) LLC, Nomura, Deutsche Bank Securities Inc.; Rule 144A and Regulation S for life; callable after three years at par plus 75% of coupon; three-year 40% equity clawback; 101% poison put; to help finance the acquisition of Arizona Chemical Holdings Corp.; issuers are subsidiaries of Kraton Performance Polymers, Inc., a Houston-based producer of engineered polymers and styrenic block copolymers; Arizona Chemical is a Jacksonville, Fla.-based specialty chemicals company; roadshow started Dec. 7.

NGL ENERGY PARTNERS LP and NGL ENERGY FINANCE CORP.: $300 million senior notes due Dec. 15, 2020 (expected ratings B2/BB-/BB-); BofA Merrill Lynch, RBC Capital Markets, Deutsche Bank Securities Inc., PNC Capital Markets, BNP Paribas, SunTrust Robinson Humphrey Inc., Wells Fargo Securities LLC, MUFG, Barclays, Goldman Sachs & Co., Mizuho Securities, UBS Investment Bank, HSBC Bank (joint); ABN Amro, SG CIB (co's); Rule 144A and Regulation S with registration rights; callable after three years at par plus 50% of coupon; three-year 35% equity clawback; to repay debt and for general corporate purposes; diversified midstream master limited partnership; investor call Nov. 30.

On The Horizon

ALBERTSONS COS. INC.: New senior notes and credit facility following the consummation of its initial public offering of common stock; to repay and terminate existing ABL facilities and the ABS/Safeway term loan; Boise, Idaho-based food and drug retailer (S-1/A filed with the Securities and Exchange Commission on Sept. 25).

AMSURG CORP.: $3.7 billion in new financing to be raised through a combination of senior secured credit facilities and senior notes, to fund the proposed merger with Team Health Holdings Inc. (Guggenheim Securities LLC and J.P. Morgan Securities LLC expressed confidence in their ability to finance the proposed acquisition via the debt markets); the combined company would assume the Team Health name, and would continue to operate out of Team Health's headquarters in Knoxville, Tenn.; AmSurg is a Nashville, Tenn.-based acquirer, developer and operator of ambulatory surgery centers in partnership with physicians; Team Health is a provider of outsourced physician staffing solutions for hospitals.

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.

DELL INC.: $49.5 billion in debt financing to help fund its acquisition of EMC Corp., closing expected in mid-2016; Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Barclays, Bank of America Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs Bank USA, RBC Capital Markets (In connection with the financing Dell expects to redeem any outstanding 5 5/8% senior first-lien notes due 2020); Dell is a Round Rock, Texas-based technology and services company; EMC is a Hopkinton, Mass.-based technology company.

DIEBOLD INC.: $500 million senior notes; also $1,841,000,000 delayed-draw term loans via J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC; proceeds to help fund acquisition of Wincor Nixdorf AG; North Canton, Ohio-based provider of self-service delivery, value-added services and software primarily to the financial industry.

ENDURANCE INTERNATIONAL GROUP HOLDINGS INC.: $350 million senior notes and $735 million term loan; Credit Suisse Securities (USA) LLC and Goldman Sachs; to help fund its acquisition of Constant Contact Inc., expected to close in the first quarter of 2016; Endurance is a Burlington, Mass.-based provider of web hosting and online services; Constant Contact is a Waltham, Mass.-based online marketing 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.

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.

MEDIA GENERAL INC.: $2.8 billion financing led by RBC Capital Markets and JPMorgan Chase Bank, expected to come in the form of bonds and term loans; to help fund its acquisition of Meredith Corp., expected to close by June 30, 2016; Media General is a Richmond, Va.-based television broadcasting and digital media company; Meredith is a Des Moines, Iowa-based media and marketing company.

PINNACLE OPCO: $300 million senior notes; also $935 million senior secured credit facility via J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Goldman Sachs Bank USA, Fifth Third Bank, U.S. Bank, Credit Agricole CIB, Deutsche Bank Securities Inc. and Wells Fargo Securities LLC; operating business and real property of Belterra Park Gaming & Entertainment that is being spun off from Pinnacle Entertainment Inc.; proceeds to make spinoff payment, pay transaction fees and expenses and for general corporate purposes; in connection with the acquisition of the remaining real estate assets of Pinnacle by Gaming & Leisure Properties Inc.; closing expected in first quarter of 2016; Pinnacle is a Las Vegas-based owner and operator of gaming entertainment properties.

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 7½% area.

SOLARWINDS: $580 million senior secured second-lien notes and $1.63 billion credit facility; Goldman Sachs Lending Partners LLC, Credit Suisse Securities (USA) LLC, Macquarie Capital (USA) Inc., Nomura Securities International Inc. and Broad Street Credit Holdings LLC provided the debt commitment; to help fund buyout by Silver Lake Partners and Thoma Bravo LLC, expected to close in the first quarter of 2016; Austin, Texas-based provider of IT management software.

TREEHOUSE FOODS INC.: $800 million long-term high-yield notes and $1 billion new bank debt; BofA Merrill Lynch; to fund its $2.7 billion purchase of ConAgra Foods Inc.’s private brands operations, expected to close in the first quarter of 2016; Oak Brook, Ill.-based consumer packaged food and beverage manufacturer.

WESTERN DIGITAL CORP.: $18.1 billion debt commitment including $8.1 billion senior secured and unsecured bridge facilities, with about $8.1 billion to be taken out with secured and unsecured notes and the balance to be repaid with available cash; also $1 billion revolver, $3 billion in amortizing term loans, and $6 billion in other term loans; Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC; RBC Capital Markets LLC; to help fund the approximately $19 billion acquisition of SanDisk Corp., expected to close in the third quarter of 2016, and refinance existing debt at both Western Digital and SanDisk; Western Digital is an Irvine, Calif.-based developer and manufacturer of data storage solutions; SanDisk is a Milpitas, Calif.-based provider of flash storage solutions.

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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