Forward calendar builds; Rent-A-Center jumps on acquisition; PHI up on tender offer

By Paul A. Harris and Abigail W. Adams

Portland, Me., June 18 – While the domestic and European primary markets were quiet on Monday, the stage is being set for a busy mid-to-late June period.

Baffinland Iron Mines Corp. and Baffinland Iron Mines LP started a roadshow for a $550 million offering of eight-year senior secured notes Monday with pricing expected late in the week.

Chaparral Energy Inc. plans to start a roadshow Tuesday for a $300 million offering of five-year senior notes.

Stars Group Inc. is expected to step forward soon with a senior notes offering to back its acquisition of Sky Betting & Gaming.

BMC Software Inc.’s $1 billion-plus offering of notes may also be close at hand, sources said.

In the European market, International Game Technology plc plans to start a roadshow Tuesday for a €500 million offering of senior secured bullet notes due July 2024.

MGM Resorts International’s newly priced 5¾% senior notes due 2025 remained a major volume mover in the secondary space, although they stayed at their previous levels.

Rent-A-Center Inc.’s junk bonds were active and making large gains in the secondary space after the company announced it had accepted a buy-out offer that would take the company private.

PHI Inc.’s 5¼% senior notes due 2019 were also quoted several points higher after the company launched a cash tender offer for the notes to be covered with proceeds from the company’s new $500 million senior notes offering.

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