High Yield Calendar: $400 million and €250 million deals being marketed

Feb. 25 Week

ASSOCIATED ASPHALT PARTNERS LLC: $175 million senior secured notes due 2018 (Caa1/B); Goldman Sachs & Co., KeyBanc Capital Markets, SunTrust Robinson Humphrey Inc. (joint), Nomura, Fifth Third (co's); Rule 144A for life; non-callable for two years; to repay bank debt; Roanoke, Va.-based supplier of liquid asphalt to the paving industry; price talk 8½% to 8¾%; books close noon ET Wednesday, pricing thereafter.

NORANDA ALUMINUM ACQUISITION CORP.: $225 million 6.25-year senior notes (existing ratings Caa1/CCC+); BofA Merrill Lynch, Citigroup Global Markets Inc., UBS Investment Bank (joint), Apollo Global Securities (co); Rule 144A with registration rights and Regulation S; callable in 2.25 years at par plus 75% of the coupon; 101% poison put; proceeds, together with an expected $60 million of incremental term loan borrowings under the existing senior secured credit facilities, to redeem existing floating-rate notes due 2015 and for general corporate purposes; Franklin, Tenn.-based aluminum products manufacturer; roadshow started Feb. 26; investor call 12:15 p.m. ET on Feb. 27; pricing late Feb. 25 week.

AVIS BUDGET FINANCE PLC: €250 million eight-year senior notes (existing B2/confirmed B); Citigroup (bill and deliver, joint bookrunner), Credit Agricole CIB, Deutsche Bank, JPMorgan (joint bookrunners), Mitubishi UFJ, Natixis, UniCredit (co's); Rule 144A and Regulation S for life; non-callable for three years; three-year 35% equity clawback; 101% poison put; to finance the acquisition of Zipcar Inc.; Avis is a Parsippany, N.J.-based provider of vehicle rental services; Zipcar is a Cambridge, Mass.-based car-sharing network; London roadshow Feb. 26-27, Paris roadshow Feb. 28.

March 4 Week

CORNERSTONE CHEMICAL CO.: $220 million senior secured notes due 2018 (low single B ratings expected); Imperial Capital, KeyBanc Capital Markets (placement agents); Regulation D (no registration rights, but will trade Rule 144A-style); callable in two years at par plus 75% of the coupon (special call allows the issuer to redeem 10% of the notes annually at 103 during the non-call period); to repay debt and pay a cash dividend to shareholders; Waggaman, La.-based specialty chemicals producer; roadshow started Feb. 26.

Expected First Quarter Business

CEDAR FAIR LP: New senior debt; J.P. Morgan Securities LLC, UBS Investment Bank; also new $885 million credit facility, which launched on Feb. 20, 2013; to refinance a portion of the company's existing $1.13 billion term loan; Sandusky, Ohio-based regional amusement-resort operator.

STATS CHIPPAC: New dollar-denominated senior notes coming concurrently with a $600 million exchange offer for the 7½% senior notes due 2015 via dealer managers Credit Suisse Securities (USA) LLC and Deutsche Bank Securities, Inc., early commitment date March 1; Rule 144A and Regulation S; to refinance the balance of the existing notes that are not exchanged for new notes in the exchange offer; Singapore-based semiconductor company.

TEREOS FINANCE GROUPE: €350 million minimum senior secured notes (Ba3/BB+); to refinance debt; Lille, France-based sugar producer; non-deal roadshow was led by BNP Paribas, Credit Agricole CIB, and Natixis, with a possible notes offer to follow, pending market conditions

On The Horizon

CKX ENTERTAINMENT, INC.: $360 million senior secured second-lien notes due 2019 (/B-/); Goldman Sachs & Co. (left books), Macquarie Group Ltd. (joint books); Rule 144A and Regulation S; non-callable for four years; to fund the purchase of common stock and repay existing credit facility; New York City-based owner and developer of entertainment content.

COOKE AQUACULTURE, INC.: $250 million senior notes due February 2021 (Caa1/CCC+); Credit Suisse Securities (USA) LLC; Rule 144A and Regulation S for life; callable in four years at par plus 50% of the coupon; three-year 35% equity clawback; 101% poison put; to repay revolver, a portion of the term loan and for general corporate purposes; Blacks Harbour, New Brunswick-based privately owned fish producer; price talk 9% area.

DELL INC. $3.25 billion secured notes: $2 billion first-lien notes and $1.25 billion second-lien notes; also $7.5 billion credit facility; BofA Merrill Lynch, Barclays, Credit Suisse Securities (USA) LLC, RBC Capital Markets; to help fund the acquisition of the company by Michael Dell and Silver Lake, expected to close at the end of the second quarter of 2013; Round Rock, Texas-based provider of technology and business products and services.

FTS INTERNATIONAL, INC.: $400 million secured notes to repay term loan; company is soliciting consents from holders of its 7 1/8% notes due 2018 to amendments to the indenture governing the notes, Bank of America Merrill Lynch and Citigroup Global Markets Inc. are the solicitation agents; provider of well completion services for the oil and gas industry with corporate offices in Fort Worth and Cisco, Texas.

GETCO HOLDING CO. LLC: $550 million second-lien notes and $470 million credit facility being led by Jefferies Finance LLC; to fund the merger with Knight Capital Group Inc., expected to close during the second quarter of 2013; Getco is a Chicago-based buyer and seller of securities.

GLOBALIVE WIRELESS MANAGEMENT CORP.: Up to $1 billion equivalent in U.S. dollar- and Canadian dollar-denominated notes; Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, BMO Capital Markets Corp.; Rule 144A; to fund expansion of its wireless network and for general corporate purposes; Toronto-based wireless communications services provider.

GREENFIELD ETHANOL INC.: C$175 million of five-year senior second-lien notes (/B+//DBRS: B); Scotia Capital Inc. (lead); Macquarie Capital Markets Canada Ltd., Societe Generale (Canada) and TD Securities Inc. (co-managers); non-callable for three years, 101% change-of-control put; equity clawback for up to 35% in first three years; Canada call at 50 bps over Canadian government benchmark; guarantors GreenField Ethanol (Johnstown) Inc.; GreenField Ethanol (Hensall) Inc.; GreenField Hensall LP; GreenField Hensall GP Inc.; Pharmco Products Inc.; Aaper Alcohol and Chemical Co., Aaper Holdings Inc.; GreenField Ethanol of Quebec Inc. and all future restricted subsidiaries of GreenField.; proceeds to repay debt, to terminate existing interest rate swap agreements and for general corporate purposes; Ontario-based GreenField Ethanol is Canada's largest ethanol company.

H.J. HEINZ CO.: Expected $2.1 billion second-lien notes backed by bridge loan; JPMorgan and Wells Fargo; also $12 billion senior secured credit facility; to help fund the acquisition of the company by Berkshire Hathaway and 3G Capital, expected to close in the third quarter of 2013; Pittsburgh-based food product company.

M&G FINANCE CORP.: $200 million to $300 million senior secured notes due 2019 (expected B3//BB), downsized from $500 million; J.P. Morgan Securities LLC (sole); Rule 144A and Regulation S for life; non-callable (call protection increased from four years); to finance construction of new PET and PTA production facilities, pay back intercompany debt and fund working capital; Houston-based Mossi & Ghisolfi (M&G) produces polyethylene terephthalate (PET) resin for packaging applications.

MCGRAW-HILL EDUCATION: $550 million notes and $1.325 billion credit facilities; Credit Suisse Securities (USA) LLC, Morgan Stanley, Jefferies & Co., UBS Investment Bank, Nomura and BMO Capital Markets Corp. are leading the financing; to help fund the acquisition of McGraw-Hill Education by Apollo Global Management LLC from McGraw-Hill Cos.; McGraw-Hill Education is a New York-based digital learning company.

NAL OIL & GAS: C$150 million to C$250 million notes; RBC Capital Markets, BMO Nesbitt Burns; Calgary, Alta., trust acquires interests in Canada's upstream conventional oil and gas industry.

PETAQUILLA MINERALS LTD.: Possible second-lien notes, size to be determined, as part of an approximately $210 million debt financing that will include between $90 million and $140 million of first-lien bank debt; Global Hunter Securities; to refinance debt and to finance capital expenditures related to the Lomero-Poyatos mine in Spain; Vancouver, B.C.-based copper exploration company; the financing was previously in the market as a single $210 million tranche of five-year senior secured notes, announced in July 2012; possible 2013 business.

PINNACLE ENTERTAINMENT INC.: $315 million senior notes and $2.73 billion credit facility in a financing led by J.P. Morgan Securities LLC and Goldman Sachs Lending Partners LLC; to fund the acquisition of Ameristar Casinos Inc., expected to close in the third quarter of 2013; Pinnacle is a Las Vegas-based casino gaming company.

PVH CORP.: $4.33 billion new debt comprised of senior notes and a credit facility; Barclays, Bank of America Merrill Lynch, Citigroup Global Markets Inc.; notes are backed by a bridge loan commitment; to fund the cash portion of the acquisition of Warnaco Group Inc., expected to close early in 2013, and refinance debt at both companies and provide liquidity going forward; PVH is a Bridgewater, N.J.-based apparel company.

SILVERLEAF RESORTS, INC.: $175 million senior secured notes due 2019; Deutsche Bank Securities Inc.; non-callable for three years; to pre-fund development of vacation ownership inventory, to refinance a portion of the company's existing debt, to pay a dividend to the sponsor; Dallas-based resort operator.

TDF GROUP (TELEFFUSION DE FRANCE): Euro-denominated high-yield bonds; BNP Paribas expected to be involved; to refinance debt; Paris-based multiple-platform telecommunications company.

Roadshow

Feb. 20-27: ASSOCIATED ASPHALT $175 million; Goldman Sachs, KeyBanc, SunTrust.

Feb. 26-28: AVIS BUDGET: €250 million; Citigroup, Credit Agricole, Deutsche Bank, JPMorgan.

Started Feb. 26: NORANDA ALUMINUM $225 million; BofA Merrill Lynch, Citigroup, UBS.

Started Feb. 26: CORNERSTONE CHEMICAL: $220 million; Imperial, KeyBanc.

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