High Yield Calendar: $2.44 billion and €484 million being marketed

June 16 Week

AAR HOLDINGS LLC and AAF FINANCE CO. (ALL ABOARD FLORIDA): $405 million senior secured PIK toggle notes due 2019, upsized from $390 million; first coupon payment will be 50% cash and 50% PIK, thereafter either entirely in cash, or 50% cash and 50% PIK, with the PIK coupon paying a 75 basis points increase to the cash coupon; 25 bps coupon step-up takes effect after 90 days unless two ratings agencies assign ratings to the notes; J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC (joint), BMO Securities (co); Rule 144A and Regulation S for life; callable after 2.5 years at par plus 50% of the coupon (increased from two years); to finance all or part of the design, construction, development and equipping of the Miami to West Palm Beach portion of a higher speed intercity passenger train line from Miami to Orlando (mandatory redemption at par if the company abandons the project before the opening deadline and with an offer to purchase the notes at par if the project fails to open by the opening deadline); Coral Gables, Fla.-based passenger rail system; price talk 12% area; books close at 2 p.m. ET Tuesday; pricing Tuesday afternoon.

NUVOTV: $230 million five-year senior secured notes; Jefferies LLC; Rule 144A and Regulation S for life; non-callable for three years; to fund the acquisition of Fuse Network from the Madison Square Garden Co.; NUVOtv is a Glendale, Calif.-based English-language cable network targeting U.S. Hispanics; launched June 11; New York lunch and investor call June 12; pricing June 16 week.

WAVEDIVISION HOLDINGS LLC: $150 million five-year PIK toggle notes; Deutsche Bank Securities Inc., Wells Fargo Securities LLC, RBC Capital Markets LLC, SunTrust Robinson Humphrey Inc.; Rule 144A and Regulation S for life; non-callable for one year; to fund a dividend; Kirkland, Wash.-based broadband cable company; roadshow June 16-18.

GLOBAL PARTNERS LP: $375 million senior notes due 2022; BofA Merrill Lynch, J.P. Morgan Securities LLC, Wells Fargo Securities LLC, RBS Securities Inc. (joint), SG CIB, BMO Securities, BNP Paribas, Credit Agricole CIB, Mitsubishi UFJ Securities, Rabo Securities, Santander (co's); Rule 144A and Regulation S with registration rights; callable after three years at par plus 75% of the coupon; to pay down the revolver and take out the 8% senior notes and 7¾% senior notes; Waltham, Mass.-based midstream oil and gas company; roadshow started June 16; pricing late June 16 week.

EVERTEC, INC.: $400 million senior secured notes due 2022 (expected ratings B1/BB-); J.P. Morgan Securities LLC, BofA Merrill Lynch; Rule 144A and Regulation S for life; non-callable; to repay term loan B in full; San Juan, Puerto Rico-based full-service transaction processing business in Latin America; roadshow started June 16; pricing June 20.

ALLEGIANT TRAVEL CO.: $300 million senior notes due 2019; Goldman Sachs & Co.; SEC registered; non-callable; to pay for ownership interests in the special purpose companies owning the 12 Airbus A320 series aircraft on lease to a European carrier currently under contract and, along with cash on hand, for the purchase of 11 Airbus A320 series aircraft under contract or letter of intent for purchase during 2014 and 2015; Las Vegas-based low-cost airline; roadshow June 16-19.

SUNSHINE OILSANDS LTD. $325 million senior secured notes due 2019; Imperial Capital (sole physical bookrunner), Morgan Stanley & Co., Scotiabank (joint bookrunners); Rule 144A and Regulation S; callable after two years at par plus 75% of the coupon; proceeds, together with concurrent $70 million equity offering, to fund expenditures necessary to complete phases one and two at the West Ells project and general corporate purposes, settle outstanding accounts payable and pre-fund 18 months of cash interest; Calgary, Alta.-based developer of oil sands leases in the Athabasca oil sands region; initial yield guidance 15%.

SAEXPLORATION HOLDINGS, INC.: $150 million five-year senior secured notes; Jefferies LLC (sole); Rule 144A and Regulation S with registration rights; callable after 2.5 years at par plus 75% of the coupon; to refinance debt and to fund the one-time purchase of equipment for the company’s Alaska operations; Houston-based oilfield services company; roadshow through the end of June 16 week.

DOMETIC GROUP AB: €314 million senior PIK toggle notes due 2019; Goldman Sachs International (joint books, bill and deliver), Nordea (joint books), DNB Markets, Handelsbanken Capital Markets, SEB, Swedbank (co's); Rule 144A and Regulation S; non-callable for two years; to repay debt; Solna, Sweden-based provider of products for recreational vehicles, commercial and passenger vehicles including refrigerators and air conditioners; roadshow June 13-19, pricing thereafter.

BUT SAS: €170 million senior secured notes due 2019; Goldman Sachs International (sole books, bill and deliver), Barclays (lead manager); Rule 144A and Regulation S; non-callable for two years; to repay mezzanine facility, repay shareholder loan, and finance a reduction of the share capital of the parent guarantor; Emerainville, France-based home equipment retailer; roadshow June 17-20, pricing thereafter.

Expected June Business

ALTEGRITY INC.: $550 million high-yield bonds and $550 million bank debt; Goldman Sachs Bank USA, Credit Suisse Securities (USA) LLC, Macquarie Capital (term loan launched at a June 16 bank meeting); to refinance debt; Falls Church, Va.-based risk and information services company.

On The Horizon

ACTUANT ELECTRICAL: $60 million senior subordinated notes; also $150 million credit facility led by RBC Capital Markets and NXT Capital; to help fund the buyout of the company by Sentinel Capital Partners from Actuant Corp.; Actuant Electrical is a Menomonee Falls, Wis.-based provider of products for the retail do-it-yourself, marine, industrial OEM and wholesale electrical markets.

ALBEA: $150 million five-year senior secured PIK toggle notes (expected ratings Caa2/CCC+); JPMorgan, BofA Merrill Lynch (joint); non-callable for one year; to fund a dividend; Gennevilliers, France-based personal care products company.

AMERICAN ENERGY PARTNERS LP: $1.4 billion senior unsecured bridge loan; Goldman Sachs & Co.; Oklahoma City-based American Energy is involved in onshore U.S. unconventional resource plays; investor call 4 p.m. ET June 10.

BIRCH COMMUNICATIONS, INC.: High-yield notes backing the acquisition of Cbeyond, Inc. in an all-cash transaction valued at $323 million, expected to close before the end of November 2014; Jefferies LLC to lead the bonds (PNC Capital Markets and Jefferies provided committed financing for the acquisition); Birch Communications is an Atlanta-based a provider of business focused communications, cloud and managed services; Cbeyond is an Atlanta-based IT infrastructure provider; timing of bond deal to be determined.

BUENA VISTA GAMING AUTHORITY: $220 million eight-year senior secured notes; Credit Suisse Securities (USA) LLC, BofA Merrill Lynch (joint); Rule 144A and Regulation S for life; callable in four years at par plus 50% of the coupon; annual mandatory redemption offer of 50% of available funds starting at 103; 101% poison put; to fund construction of the Buenavue Casino; Ione, Calif.-based tribal gaming firm.

CLEAVER-BROOKS, INC.: $40 million senior secured notes due 2019; private; proceeds, together with other capital sources, are expected to be used to fund the previously disclosed acquisition by Cleaver-Brooks of a related business; Thomasville, Ga.-based provider of boiler room products.

FRONTIER COMMUNICATIONS CORP.: $1.9 billion senior notes backed by bridge; J.P. Morgan Securities LLC; to fund the acquisition of AT&T Inc.’s wireline business and statewide fiber network in Connecticut; Stamford, Conn.-based wireline telecommunications provider; expected during the second or third quarter of 2014.

JARDEN CORP.: $795 million bonds and bank loans, sizes to be determined; to help fund its acquisition of Yankee Candle Investments LLC from Madison Dearborn Partners LLC for $1.75 billion in cash; Jarden is a Rye, N.Y.-based provider of consumer products; Yankee Candle is a South Deerfield, Mass.-based designer, manufacturer, wholesaler and retailer of scented candles.

MALLINCKRODT PLC: Up to $500 million new senior notes backed by a bridge loan and $1.35 billion term loan; Barclays; to help fund the acquisition of Questcor Pharmaceuticals Inc., an Anaheim Hills, Calif.-based biopharmaceutical company, expected to close in the third quarter of 2014; Mallinckrodt is a Dublin, Ireland-based pharmaceuticals company.

NINE WEST HOLDINGS INC.: $455 million senior unsecured bridge loan or senior notes; also $720 million credit facility launched Feb. 14, including a $445 million term loan and $300 million unsecured term loan led by Morgan Stanley Senior Funding Inc., Jefferies Finance LLC and MCS Capital Markets LLC and $300 million asset-based revolver led by Wells Fargo Securities LLC and Bank of America Merrill Lynch; to help fund the buyout of parent company Jones Group Inc. by Sycamore Partners; marketer and wholesaler of apparel, footwear and accessories.

NORTHERN FRONTIER CORP.: C$75 million senior secured second-lien notes due 2019 (/expected B-/); GMP Securities, BMO Capital Markets (joint); Rule 144A; non-callable for three years; to help finance acquisition of Central Water & Equipment Services Ltd., to repay bank debt, to fund capital expenditures and for general corporate purposes; Calgary, Alta.-based provider of industrial and environmental services; Toronto-based roadshow underway.

PROSPECTOR OFFSHORE DRILLING SA: $100 million five-year second-lien bonds via subsidiary Prospector Finance II Sarl; DNB Markets, Pareto Securities, Swedbank (joint); proceeds along with funds from $270 million loan to fully finance the delivery of Prospector 5 drilling rig, which is expected to occur in early June, to refinance existing debt secured by the Prospector 1 drilling rig and for general corporate purposes; Luxembourg-based drilling contractor.

SAFEWAY INC.: $1,625,000,000 senior secured notes and $9.45 billion credit facility; Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley Senior Funding Inc., Barclays, Deutsche Bank Securities Inc., PNC Capital Markets LLC, US Bank, SunTrust Robinson Humphrey Inc.; to fund the buyout of Safeway, expected to close in the fourth quarter of 2014; Pleasanton, Calif.-based food and drug retailer.

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.

ZEBRA TECHNOLOGIES CORP.: $3.25 billion bonds and bank debt; Morgan Stanley; to fund the acquisition of Motorola Solutions, Inc.’s enterprise business; Lincolnshire, Ill.-based printing technologies company.

Roadshows

Started June 11: NUVOTV $230 million; Jefferies.

June 13-19: DOMETIC €314 million; Goldman Sachs, Nordea.

Started June 16: GLOBAL PARTNERS $375 million; BofA Merrill Lynch, JPMorgan, Wells Fargo, RBS.

Started June 16: EVERTEC $400 million; JPMorgan, BofA Merrill Lynch.

June 16-18: WAVEDIVISION $150 million; Deutsche Bank, Wells Fargo, RBC, SunTrust.

June 16-19: ALLEGIANT TRAVEL $300 million; Goldman Sachs.

June 16-20: BUT €170 million; Goldman Sachs.

June 16 week: SAEXPLORATION $150 million; Jefferies.

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