High Yield Calendar: $2.63 billion and €1.72 billion deals being marketed

January 22 Week

OCEANEERING INTERNATIONAL, INC.: $300 million senior notes due 2028 (expected ratings Ba1/BBB); Credit Suisse Securities (USA) LLC (lead left books), Wells Fargo Securities LLC, J.P. Morgan Securities LLC, DNB Markets, HSBC Securities (USA) Inc., BofA Merrill Lynch (joint books), Standard Chartered, ABN Amro, SEB (co's); SEC registered; par call three months prior to maturity, otherwise non-callable; 101% poison put; to repay term loan and for general corporate purposes; provider of engineered services and products to the offshore oil and gas industry; New York roadshow Tuesday; pricing Wednesday.

BERRY PETROLEUM CO., LLC: $350 million senior notes (B3) due 2026; Goldman Sachs & Co. (left books), Wells Fargo Securities LLC, BMO, Morgan Stanley & Co. LLC, UBS Securities LLC, KeyBanc Capital Markets (joint books); Rule 144A and Regulation S for life; callable after three years at par plus 75% of coupon; to pay down revolver and for general corporate purposes; Bakersfield, Calif.-based company owns and operates oil and gas properties in California, Colorado, Utah, Kansas and Texas; roadshow Jan. 29-Feb. 2, pricing thereafter; initial guidance 6½% to 6¾% area.

JW ALUMINUM HOLDING CORP. and JW ALUMINUM CONTINUOUS CAST CO.: $300 million senior secured notes (B3) due 2026; Goldman Sachs (left books), Deutsche Bank (joint books), Moelis, Regions (co's); Rule 144A and Regulation S for life; callable after three years at par plus 75% of coupon; to refurbish and expand the company’s capabilities at its manufacturing operations and repay the $151.4 million secured term loan; Goose Creek, S.C.-based flat rolled aluminum manufacturer; roadshow Jan. 29-Feb. 2, pricing thereafter; initial guidance 8% area.

INDIGO NATURAL RESOURCES LLC: $650 million senior notes due 2026; J.P. Morgan Securities LLC; Rule 144A and Regulation S; non-callable for three years; to repay debt; Houston-based independent natural gas and natural gas liquids company; pricing expected late Jan. 29 week; initial guidance 6½% to 6¾%.

ENVEN ENERGY CORP.: $325 million senior secured second-lien notes due 2023 (Caa1/BB-); J.P. Morgan Securities LLC; Rule 144A and Regulation S; non-callable for two years; to pay off revolver and second-lien term loan, with any remaining proceeds for general corporate purposes; Houston-based independent oil and natural gas company; initial guidance 9½% to 10%; pricing expected Friday.

ROCKPOINT GAS STORAGE CANADA LTD.: $400 million senior secured first-lien notes due March 2023 (/BB-/B); RBC (joint books, bill and deliver), BMO, CIBC (joint books); Rule 144A and Regulation S for life; callable after two years at par plus full coupon; proceeds, together with cash on hand, to redeem and retire all of the outstanding 2019 notes and repay about $150 million of outstanding borrowings under the term loan facility; Alberta-based owner and operator of natural gas storage; global investor call and investor lunch Jan. 31; to be offered at approximately 4 points of original issue discount; pricing late Jan. 29 week or early Feb. 5 week.

KME AG: €300 million five-year senior secured notes (expected ratings B3/B); Goldman Sachs International (joint global coordinator, bill and deliver), BNP Paribas, Deutsche Bank (joint global coordinators), Banca Akros SpA, Gruppo Banco BPM (joint books), Banca IMI, Raiffeisen Bank (co's); Rule 144A and Regulation S; callable after two years at par plus 50% of coupon; to repay debt under the borrowing base facility, to pay off Intek Group loans and for general corporate purposes; Milan-based copper supplier; roadshow Jan. 29-Feb. 1.

February 5 Week

ALGECO SCOTSMAN €1,415,000,000 equivalent four-part high-yield notes (restructured from five-part deal): Algeco Scotsman Global Finance plc €1.12 billion equivalent five-year senior secured notes (B2/B-/B+) in euro-denominated and dollar-denominated five-year fixed-rate notes, callable after two years at par plus 50% of coupons, and euro-denominated floating-rate notes, callable after one year at 101, also Algeco Scotsman Global Finance 2 plc €295 million equivalent dollar-denominated 5.5-year senior unsecured fixed-rate notes (Caa1/CCC/CCC+) callable after two year at par plus 50% of coupon (proposed euro-denominated tranche withdrawn); all tranche sizes to be determined; BofA Merrill Lynch (joint global coordinator, bill and deliver for dollar-denominated secured notes), Deutsche Bank (joint global coordinator, bill and deliver for unsecured notes), Goldman Sachs (joint global coordinator, bill and deliver for euro-denominated secured notes), Barclays, Credit Suisse, ING (joint global coordinators); Rule 144A and Regulation S; proceeds, together with proceeds from an equity contribution, borrowings under a new ABL facility and cash on hand, will be used, among other things, to repay debt including all debt outstanding under Algeco Scotsman's existing ABL facilities agreement, existing senior secured notes and existing senior unsecured notes; Baltimore-based provider focused of modular portable storage solutions, and remote workforce accommodation management; full roadshow started Jan. 26 (roadshow extended: Friday presentations on U.S. West Coast added; Milan-Amsterdam presentations pushed back to Monday); pricing Feb. 5 week.

TRANSMONTAIGNE PARTNERS LP and FINANCE-CO: $300 million senior notes due February 2026; RBC Capital Markets (joint books, bill and deliver), BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, MUFG, Wells Fargo Securities LLC (joint books); SEC registered; callable after three years at par plus 75% of coupon; to repay debt and for general partnership purposes; Denver-based refined petroleum products marketing and distribution company; roadshow starts Feb. 1; pricing Feb. 7 or Feb. 8.

ELIS SA (Ba2/BB/BB+): Possible benchmark euro-denominated senior notes with expected five- to eight-year maturities in one or two tranches; BNP Paribas, Credit Agricole CIB, HSBC (global coordinators), ING, Natixis, SG (active joint books), BBVA, Commerzbank, Mediobanca, MUFG (passive books); to refinance the bridge loan put in place for the Berendsen acquisition and for general corporate purposes which may include the refinancing of existing debt; Saint-Cloud, France-based multi-services group specializing in the rental and maintenance of professional clothing, textile articles, hygiene and well-being appliances; investor meeting start Feb. 5.

On The Horizon

CENTENE CORP.: $1.6 billion bonds; Barclays to be involved; $2.3 billion of new equity, including share consideration, to fund its planned $3.75 billion acquisition of Fidelis Care; Centene is a St. Louis-based managed care and specialty health care services provider; expected during first quarter of 2018.

ENERGIZER HOLDINGS INC.: Up to $720 million senior notes backed by one-year bridge at Libor plus 500 bps with 1% Libor floor, Barclays left lead arranger, JPMorgan joint arranger; also $2.04 billion credit facilities; to fund its acquisition of Spectrum Brands’ Global Battery and Portable Lighting Business, expected to close before the end of 2018; St. Louis-based manufacturer of primary batteries and portable lighting products.

MCDERMOTT INTERNATIONAL INC.: $1.5 billion senior notes backed by a bridge loan; Barclays (administrative agent on the bridge), Credit Agricole, Goldman Sachs; also $4.45 billion credit facilities; debt is coming in connection with the merger of McDermott and CB&I, expected to close in the second quarter of 2018; McDermott is a Houston-based engineering and design company, CB&I is a Netherlands-based provider of technology and infrastructure for the energy industry (combined company will be based in Houston); disclosed in 8-K document filed on Dec. 18 with the Securities and Exchange Commission.

SINCLAIR BROADCAST GROUP INC.: Commitment for $5.6 billion in debt financing, including a $785 million bridge loan, to help fund acquisition of Tribune Media Co.; expected 50:50 mix of fixed- and floating-rate debt; JPMorgan Chase Bank, RBC and Deutsche Bank Securities Inc. leads; Hunt Valley, Md.-based television broadcasting company.

SS&C TECHNOLOGIES HOLDINGS INC.: $1.25 billion bridge loan to be taken out with high-yield bonds and/or IPO of common shares, Credit Suisse, Morgan Stanley; proceeds, along with about $7.15 billion of bank debt, to help fund its acquisition of DST Systems Inc. and to refinance existing debt; SS&C is a Windsor, Conn.-based provider of financial services software and software-enabled services; targeted to close in third quarter of 2018; announced in Jan. 11 press release.

Roadshows

Jan. 26-Feb. 5 (extended): ALGECO SCOTSMAN €1,415,000,000; BofA Merrill Lynch, Deutsche Bank, Goldman Sachs, Barclays, Credit Suisse, ING.

Jan. 29-Feb. 1: KME €300 million; Goldman Sachs, BNP Paribas, Deutsche Bank, Banca Akros SpA, Gruppo Banco BPM.

Jan. 29-Feb. 2: BERRY PETROLEUM $350 million; Goldman Sachs, Wells Fargo, BMO, Morgan Stanley, UBS, KeyBanc.

Jan. 29-Feb. 2: JW ALUMINUM $300 million; Goldman Sachs.

Pricing late Jan. 29 week: INDIGO NATURAL RESOURCES $650 million; JPMorgan.

Pricing expected late Jan. 29 week: ENVEN ENERGY $325 million; JPMorgan.

Starts Jan. 31: ROCKPOINT GAS STORAGE CANADA $400 million; RBC, BMO, CIBC.

Starts Feb. 5: ELIS possible benchmark euro-denominated senior notes; BNP Paribas, Credit Agricole, HSBC, ING, Natixis, SG, BBVA, Commerzbank, Mediobanca, MUFG.

Starts Feb. 1: TRANSMONTAIGNE PARTNERS $300 million; RBC, BofA Merrill Lynch, Citigroup, Credit Suisse, MUFG, Wells Fargo.

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