High Yield Calendar: $5.55 billion and €75 million deals being marketed

DECEMBER 6 WEEK

PILGRIM'S PRIDE CORP.: $350 million senior notes due 2018; Barclays Capital, BMO Nesbitt Burns, Jefferies & Co., Morgan Stanley, Rabo Securities (joint); Rule 144A/Regulation S with registration rights; non-callable for four years; to repay term loan A; Pittsburg, Texas, poultry processor; roadshow Dec. 2-8.

AURORA DIAGNOSTICS HOLDINGS, LLC/AURORA DIAGNOSTICS FINANCING, INC.: $230 million senior notes due 2017; Morgan Stanley, Barclays Capital, UBS Investment Bank (joint), RBC Capital Markets, BMO Nesbitt Burns (co's); Rule 144A with registration rights; non-callable for three years; approximately $129 million of proceeds to repay bank debt, approximately $30 million to consummate a pending acquisition, and approximately $65 million of the remaining proceeds for general corporate purposes, including working capital; Palm Beach Gardens, Fla.-based diagnostics company; pricing Dec. 6 week.

TRINIDAD DRILLING LTD.: $450 million eight-year senior notes; Wells Fargo Securities (left books), RBC Capital Markets, TD Securities (joint books), HSBC, Scotia Capital (joint lead managers), Daiwa Securities, Comerica Securities (co's); Rule 144A/Regulation S for life; non-callable for four years; to refinance debt; Calgary, Alta.-based provider of oil and gas drilling equipment; roadshow started Dec. 3; pricing late in Dec. 6 week.

CONVATEC HEALTHCARE $1.87 billion equivalent: $1.18 billion equivalent eight-year senior notes, non-callable for four years, and $690 million seven-year senior secured notes, non-callable for three years; J.P. Morgan Securities LLC and Goldman Sachs; private; also new $1.1 billion credit facility; to refinance substantially all of the company's debt under its existing senior secured and mezzanine facilities; Skillman, N.J.-based developer, manufacturer and marketer of medical technologies for community and hospital care; roadshow through Dec. 9.

HDT WORLDWIDE, LLC and HDT FINANCE (HUNTER DEFENSE TECHNOLOGIES INC.): $250 million senior secured notes due 2017; JP Morgan, Bank of America Merrill Lynch, RBS Securities; Rule 144A; non-callable for four years; to repay existing debt and fund a dividend payment; Solon, Ohio-based manufacturer of defense technology; pricing expected Friday.

NOVELIS INC. $2.5 billion senior notes (expected ratings B1/B+) in two tranches: Tranche A notes due 2017, non-callable for three years, Tranche B notes due 2020, non-callable for five years; Citigroup (left books), J.P. Morgan Securities LLC, Bank of America Merrill Lynch, RBS Securities, UBS Investment Bank (joint books); Rule 144A/Regulation S with registration rights; three-year 35% equity clawback; 101% poison put; to help refinance approximately $2.5 billion of existing debt and return approximately $1.7 billion of capital to parent company; Atlanta-based aluminum rolling and recycling company; roadshow started Monday; pricing Friday.

DURR AG: €75 million add-on to the 7¼% senior notes due September 2015 (existing ratings B2/B); Close Brothers Seydler Bank AG; private placement; Bietigheim-Bissingen, Germany-based holding company providing, through its subsidiaries, equipment, systems and services mainly for automobile and aircraft industries; price talk 104.90; book to open Dec. 6; original €150 million issue priced at par in September 2010.

DECEMBER 13 WEEK

SWIFT HOLDINGS CORP./SWIFT TRANSPORTATION: $490 million senior second-priority notes due 2018; Bank of America Merrill Lynch, Morgan Stanley & Co. Inc., Wells Fargo Securities, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., UBS Investment Bank; non-callable for four years; to refinance the company's existing bank debt, senior secured floating-rate notes and senior secured fixed-rate notes; Phoenix-based transportation services company and truckload carrier; pricing expected during Dec. 13 week.

FIRST CAPITAL HOLDINGS, INC.: $100 million senior notes due 2015 (expected ratings B2/B-); Gleacher Securities; private; non-callable for two years; to repay certain outstanding debt of FCC Holdings, LLC and its subsidiaries, and for general corporate purposes; Boca Raton, Fla.-based specialized commercial finance company; pricing Dec. 13 week.

EXPECTED DECEMBER BUSINESS

AFREN PLC: Senior secured notes; to repay debt and for general corporate purposes; London-based independent oil and gas exploration and production company.

CEVA GROUP PLC: Expected $365 million minimum first-lien senior secured notes; Credit Suisse; to prepay a portion of the senior secured credit facility; Hoofddorp, the Netherlands-based supply chain management provider; investor call Tuesday.

CNO FINANCIAL GROUP, INC.: New senior secured notes as part of $652.1 million debt refinancing, which will also include cash on hand and a $325 million term loan, via Morgan Stanley and Barclays, scheduled to launch at a Dec. 2 bank meeting; Carmel, Ind.-based holding company for insurance companies.

DEL MONTE FOODS CO.: $1.6 billion senior notes and $3 billion credit facility; J.P. Morgan Securities LLC, Barclays Capital, Morgan Stanley, Bank of America Merrill Lynch, KKR Capital Markets to lead debt financing; to fund LBO by Kohlberg Kravis Roberts & Co. LP, Vestar Capital Partners and Centerview Partners, expected to be completed by the end of March 2011; San Francisco-based branded pet and consumer products company; expected to launch Dec. 6 week, and price by year-end.

FLAKEBOARD CO. LTD.: $225 million seven-year senior secured notes (B2/B/); J.P. Morgan Securities LLC, Goldman Sachs & Co.; non-callable for four years; to repay bank debt; Markham, Ont.-based manufacturer of composite panel products.

GRIFOLS SA: $1.1 billion high-yield notes; also $3.4 billion credit facility (Ba3/BB) via Deutsche Bank, Nomura, BBVA, BNP Paribas, HSBC and Morgan Stanley; to help fund the company's acquisition of Talecris Biotherapeutics Holdings Corp.; Grifols is a Barcelona, Spain-based health care company and producer of plasma protein therapies. Talecris is a Research Triangle Park, N.C.-based biotherapeutics products company.

KANSAS CITY SOUTHERN DE MEXICO SA DE CV: Expected $300 million to $350 million high-yield notes; Bank of America Merrill Lynch; to fund tender offers for $175 million 7 5/8% senior notes due 2013 and $130 million of 12½% senior notes due 2016; subsidiary of Kansas City, Mo.-based railroad company, Kansas City Southern; expected November business.

SOUTHERN PACIFIC RESOURCES CORP: C$300 million of high-yield bonds; RBC Capital Markets, BMO Capital Markets, Credit Suisse Securities (Canada) Inc., TD Securities Inc.; proceeds to fund STP-McKay Thermal Project in northern Alberta.

SYNIVERSE TECHNOLOGIES: $475 million senior unsecured notes; also $1.175 billion credit facility; Barclays Capital, Credit Suisse, Goldman Sachs & Co.; to help fund its acquisition by the Carlyle Group, expected to close first quarter of 2011; other funding will come from up to $1.245 billion of equity; Tampa, Fla.-based provider of technology and business services for the telecommunications industry.

ON THE HORIZON

ARMSTRONG WORLD INDUSTRIES INC.: $800 million debt financing to include possible senior notes and bank loan; Bank of America Merrill Lynch, Barclays Capital, J.P. Morgan Securities LLC to lead the bank loan; to help fund a dividend to shareholder; Lancaster, Pa.-based designer and manufacturer of floors, ceilings and cabinets; transaction expected by end of 2010.

ASHLAND DISTRIBUTION: $600 million high-yield bonds and bank debt; Bank of America Merrill Lynch; to fund LBO by TPG Capital, expected to close by end of March 2011; also $400 million equity.

CANADIAN SATELLITE RADIO HOLDINGS INC.: (parent company of XM CANADA): about C$130 million of senior notes; to help fund the all-stock merger of equals of XM Canada with Sirius Canada Inc., with a combined enterprise value of about $520 million, transaction subject to approval by CSR's shareholders (other than Sirius XM and its affiliates) at a special meeting anticipated to be held in February 2011.

LODGENET INTERACTIVE CORP.: Possible debt financing that could include bonds; to repay bank debt; Sioux Falls, S.D.-based provider of interactive media and connectivity solutions to the hospitality industry and interactive patient education, information and entertainment systems to health care facilities; ($435 million six-year senior secured second-lien notes, B3/B/, via Bank of America Merrill Lynch, J.P. Morgan Securities LLC, put on hold Sept. 28 as company announced it is seeking alternatives).

POLYMER GROUP INC.: Possible $545 million secured notes via public or Rule 144A offering (financing could alternatively take the form of $545 million increasing-rate loans under the existing senior secured credit facility); also $50 million ABL facility and $260 million of sponsor equity; debt commitments from Citigroup Global Markets Inc., Morgan Stanley Senior Funding, Inc., Barclays Bank plc, Barclays Capital, Royal Bank of Canada, RBC Capital Markets; to help fund $326 million buyout by the Blackstone Group; Charlotte, N.C., producer of non-wovens for the hygiene, wipes, medical, and industrial markets; expected November or December business.

WII COMPONENTS, INC.: $115 million five-year senior secured notes due 2015 (/B-/); Gleacher & Co. (sole); Rule 144A with registration rights/Regulation S; non-callable for two years; 35% equity clawback; 101% poison put; to fund the tender and consent for the 10% senior notes due in 2012 and for general corporate purposes; St. Cloud, Minn.-based manufacturer of hardwood cabinet doors, hardwood components and engineered wood products.

ROADSHOWS

Dec. 2-8: PILGRIM'S PRIDE CORP. $350 million; Barclays Capital Inc., BMO Nesbitt Burns, Jefferies & Co., Morgan Stanley & Co. Inc., Rabo Securities.

Pricing Dec. 6 week: AURORA DIAGNOSTICS HOLDINGS, LLC/AURORA DIAGNOSTICS FINANCING, INC. $230 million; Morgan Stanley, Barclays Capital, UBS Investment Bank.

Started Dec. 3: TRINIDAD DRILLING LTD. $450 million; Wells Fargo Securities, RBC Capital Markets, TD Securities.

Started Dec. 6: DURR AG €75 million; Close Brothers Seydler Bank AG.

Started Dec. 6: NOVELIS INC. $2.5 billion; Citigroup, J.P. Morgan Securities LLC, Bank of America Merrill Lynch, RBS Securities, UBS Investment Bank.

Through Dec. 9: CONVATEC HEALTHCARE $1.87 billion equivalent; J.P. Morgan Securities LLC and Goldman Sachs.

Pricing Dec. 10: HDT WORLDWIDE, LLC and HDT FINANCE (HUNTER DEFENSE TECHNOLOGIES INC.) $250 million; JP Morgan, Bank of America Merrill Lynch, RBS Securities.

Pricing Dec. 13 week: SWIFT HOLDINGS CORP./SWIFT TRANSPORTATION $490 million; Bank of America Merrill Lynch, Morgan Stanley & Co. Inc., Wells Fargo Securities, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., UBS Investment Bank.

Pricing Dec. 13 week: FIRST CAPITAL HOLDINGS, INC. $100 million; Gleacher Securities.

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