High Yield Calendar: $1.78 billion deals being marketed

February 5 Week

TERRAFORM GLOBAL, INC.: $400 million senior notes due 2026 (Ba3/BB-); Citigroup Global Markets Inc.; Rule 144A and Regulation S; non-callable for four years; proceeds, together with cash on hand, to redeem in full its outstanding senior notes due in 2022; Bethesda, Md.-based owner and operator of a renewable power portfolio of solar and wind assets; initial guidance mid-6% area; pricing expected Thursday.

GRAN TIERRA ENERGY INTERNATIONAL HOLDINGS, LTD.: $300 million seven-year senior notes (expected ratings B+/B+); Credit Suisse (global coordinator, bill and deliver), RBC (global coordinator), Scotia (joint bookrunner); Rule 144A and Regulation S for life; non-callable for four years; to repay debt under revolver and general corporate purposes; Calgary, Alta.-based company focused on oil and gas exploration and production in Colombia; initial guidance mid-to-high 6% area; expected to price Thursday, New York time.

APEX TOOL GROUP, LLC and BC MOUNTAIN FINANCE, INC.: $325 million senior notes due 2023 (existing ratings Caa1/B-); Barclays (lead left books), Goldman Sachs & Co., Morgan Stanley & Co. LLC, RBC Capital Markets LLC, Deutsche Bank Securities Inc., SMBC Nikko (joint books); Rule 144A and Regulation S for life; callable after one year at 102; one-year 40% equity clawback at par plus coupon; 101% poison put; proceeds, together with $125 million incremental term loan B, to redeem all of the existing $450 million senior notes due 2021; Sparks, Md.-based manufacturer and supplier of hand and power tools; initial guidance 8½% to 8¾%; investor call 12:30 p.m. ET Thursday.

JONES ENERGY HOLDINGS, LLC and JONES ENERGY FINANCE CORP.: $450 million senior secured first-lien notes due March 15, 2023; Credit Suisse Securities (USA) LLC (sole); Rule 144A and Regulation S; callable after two years at par plus 75% of coupon; two-year 35% equity clawback at par plus coupon; 101% poison put; to repay borrowings under the revolver and for general corporate purposes; oil and gas exploration and development company; roadshow Feb. 6-9, pricing thereafter; initial guidance mid 9% area, all-in yield.

FLEXI-VAN LEASING, INC.: $300 million second-lien senior secured notes due 2023; BofA Merrill Lynch; non-callable for two years; to repay revolver debt and redeem the 7 7/8% senior notes due Aug. 15, 2018; Kenilworth, N.J.-based provider of equipment to the intermodal transportation industry; roadshow started Feb. 5; initial price talk high 9% to low 10% area; pricing expected Friday.

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.

TWINSET SPA: €170 million five-year senior secured floating-rate notes; private; to redeem the €150 million senior Euribor plus 587.5 bps secured floating rate notes due 2019, partially repay a shareholder loan and cancel the existing hedging arrangement; Capri, Italy-based supplier of luxury women's apparel and accessories; announced Feb. 2.

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

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

Started Feb. 5: FLEXI-VAN LEASING $300 million; BofA Merrill Lynch.

Feb. 6-9: JONES ENERGY $450 million; Credit Suisse.

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