High Yield Calendar: $2.5 billion being marketed

Aug. 5 Week

BMC SOFTWARE: $1.38 billion equivalent eight-year senior notes in tranches of $1.05 billion and €250 million; Credit Suisse Securities (USA) LLC, RBC Capital Markets LLC, Barclays, Deutsche Bank Securities Inc., Citigroup Global Markets Inc., Jefferies & Co., Mizuho Securities (joint books); Rule 144A and Regulation S; non-callable for three years, then at par plus three-quarters of coupon; to help leveraged buyout by Bain Capital, Golden Gate Capital, GIC Special Investments Pte Ltd. and Insight Venture Partners; Houston-based software company; roadshow started July 31; pricing during Aug. 5 week.

ENDEAVOR ENERGY RESOURCES, LP and EER FINANCE, INC.: $300 million eight-year senior notes; Credit Suisse Securities (USA) LLC, Wells Fargo Securities LLC, Credit Agricole Securities (USA) Inc., Mitsubishi UFJ Securities, U.S. Bancorp Investments Inc., RBS Securities Inc. (joint books); Rule 144A and Regulation S for life; non-callable for three years, then callable at three-quarters of coupon, 35% equity clawback for three years, 101% poison put; to repay existing debt and for general corporate purposes; Midland, Texas-based oil and gas exploration and production company; roadshow started July 31; pricing during Aug. 5 week.

RCN TELECOM SERVICES, LLC and RCN CAPITAL CORP.: $200 million seven-year senior notes; Credit Suisse Securities (USA) LLC, SunTrust Robinson Humphrey Inc. (joint); Rule 144A and Regulation S for life; callable in three years at par plus 75% of the coupon; three-year 40% equity clawback; 101% poison put; to fund a shareholder dividend; cable provider that services Boston, Chicago, Washington, D.C., Lehigh Valley, Pa., New York City and Philadelphia; roadshow starts July 30; price talk 8.25% to 8.5%; books close 10 a.m. ET Aug. 5, pricing thereafter.

PLAYA RESORTS HOLDING, BV: $300 million seven-year senior notes (Caa1/B); BofA Merrill Lynch (left books), Deutsche Bank Securities Inc. (joint books), Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. (co's); Rule 144A and Regulation S for life; callable in three years at par plus 75% of the coupon; three-year 35% equity clawback; 101% poison put; proceeds, along with a new term loan and a significant investment from Hyatt Hotels Corp., to acquire thirteen resorts; owner, operator and developer of all-inclusive resorts in the Dominican Republic, Mexico and Jamaica; pricing early Aug. 5 week.

ORIONSTONE PTY LTD.: $200 million seven-year secured notes; non-callable for three years; Rule 144A for life; Morgan Stanley & Co. LLC bookrunner; proceeds to repay debt; Mackay, Australia-based supplier of heavy earthmoving rental equipment to the infrastructure, oil, gas, and mining industries.; conference call on Aug. 5; roadshow begins Aug. 5; pricing expected Aug. 9.

U.S. XPRESS ENTERPRISES, INC.: $250 million senior secured second-lien notes due 2020 (Caa1/B-); Wells Fargo Securities LLC (left books), Morgan Stanley & Co. LLC (joint books), Regions Securities LLC (co); Rule 144A and Regulation S with registration rights; callable in three years at par plus 75% of the coupon; to repay the existing senior secured credit facility, receivable securitization facility and other debt; Chattanooga, Tenn.-based truckload carrier and a diversified provider of truckload, intermodal and logistics services; price talk 9½% to 9¾%; books closed at 3:30 p.m. ET Tuesday.

MOHEGAN TRIBAL GAMING AUTHORITY: $425 million eight-year senior notes; Credit Suisse Securities (USA) LLC, RBS Securities Inc., Goldman Sachs & Co., Credit Agricole CIB, SunTrust Robinson Humphrey Inc., Jefferies LLC, BofA Merrill Lynch, Nomura (joint); Rule 144A for life; callable in three years at par plus 75% of the coupon; 101% poison put; to refinance third-lien notes; Montville, Conn.-based owner and operator of gaming properties; investor call 10:30 a.m. ET Wednesday; pricing Aug. 5 week.

SOUTHERN STATES COOPERATIVE, INC.: $130 million senior notes due 2021; BMO Capital Markets Corp. (books), Fifth Third Securities Inc., PNC Capital Markets, RB International Markets (co's); Rule 144A and Regulation S for life; non-callable for four years; to refinance debt; Richmond, Va.-based supplier of agricultural products and services; roadshow started July 29 week; talked at 9¼% area.

July-August Business

MULTI PACKAGING SOLUTIONS INC.: $200 million senior notes (Caa1/CCC+); BofA Merrill Lynch, Barclays, Citigroup Global Markets Inc., UBS Investment Bank; also $330 million credit facility launching at a July 30 bank meeting; to help fund the buyout of the company by Madison Dearborn Partners from Irving Place Capital and to refinance its existing senior secured credit facility; New York-based manufacturer of printed folding cartons, labels and inserts for customers in the health care, consumer and media end markets.

On The Horizon

ACTIVISION BLIZZARD INC. $2.5 billion: $1 billion first-lien senior secured notes and $1.5 billion senior unsecured notes; J.P. Morgan Securities LLC, BofA Merrill Lynch; also $2.5 billion credit facility; proceeds, along with about $1.2 billion cash on hand, to acquire approximately 429 million Activision shares and certain tax attributes from Vivendi, in exchange for roughly $5.83 billion in cash, or $13.60 per share, in a transaction expected to close by the end of September 2013; Activision Blizzard is a Santa Monica Calif.-based interactive entertainment publishing company.

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.

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.

FORESIGHT ENERGY LLC: New senior unsecured debt securities and/or new secured credit facility; in connection with the tender offer for $600 million of its 9 5/8% senior notes due 2017, via Morgan Stanley & Co. LLC and Citigroup Global Markets Inc., expires Aug. 19; St. Louis-based producer of thermal coal.

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; BofA 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.

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.

HUDSON'S BAY CO.: $400 million senior notes and $1.9 billion term loan (expected blended rate in the mid-5% range); Bank of America Merrill Lynch, RBC Capital Markets; to fund the acquisition of Saks, Inc., expected to close by the end of 2013; Hudson's Bay is an Ontario-based department store operator; Saks is a New York-based retailer.

INTEGRATED MISSION SOLUTIONS LLC: $340 million senior secured notes backed by a $340 million senior secured bridge loan led by Jefferies LLC; also $70 million revolver; to fund the buyout of Michael Baker Corp., expected to close in the late in the third quarter or early in the fourth quarter; Integrated Mission Solutions, an affiliate of DC Capital Partners LLC, is a government contractor that provides engineering, construction, technical services, strategic consulting and other mission-critical services and solutions; Michael Baker is a Moon Township, Pa.-based provider of engineering, design, planning and construction services.

IONA ENERGY CO. (UK) LTD. (IONA ENERGY INC.): $250 million to $300 million callable senior secured bonds; Pareto Securities; to refinance credit facility, of which approximately $139 million is drawn, and to partially retire its existing structured energy derivative transaction, also to fund the delivery of its Orlando and Kells projects to first oil, as well as mature and accelerate its other pipeline of development opportunities; Calgary, Alta.-based oil and gas exploration, development and production company focused on oil and gas development in the United Kingdom's North Sea.

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.

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.

NIELSEN HOLDINGS NV: $1.3 billion bridge, most or all to be taken out with high-yield bonds, to fund its acquisition of Arbitron Inc.; J.P. Morgan Securities LLC; Nielsen is a New York and Netherlands-based provider of information and insights into what consumers watch and buy; Arbitron is a Columbia, Md.-based media and marketing research firm.

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.

RUE 21 INC.: $250 million senior notes backed by a bridge loan via J.P. Morgan Securities LLC, BofA Merrill Lynch, Goldman Sachs Bank USA; also $680 million facility; to help fund the purchase of the company by Apax Partners, expected to close by the end of 2013; Warrendale, Pa.-based retailer of girls' and guys' apparel and accessories.

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.

TENET HEALTCARE CORP.: $2.8 billion senior notes backed by a bridge loan and $1.8 billion term loan; BofA Merrill Lynch (sole); to help fund the acquisition of Vanguard Health, expected to close before the end of 2013; Tenet is a Dallas-based health care services company; Vanguard is a Nashville, Tenn.-based owner and operator of acute care and specialty hospitals and complementary facilities.

Roadshows

Starts July 29 week: SOUTHERN STATES COOPERATIVE $130 million; BMO.

Starts Aug. 5: ORIONSTONE PTY LTD: $200 million; Morgan Stanley & Co. LLC.

Started July 30: RCN $200 million; Credit Suisse, SunTrust.

Pricing early Aug. 5 week: PLAYA RESORTS $300 million; BofA Merrill Lynch, Deutsche Bank.

Started July 31: ENDEAVOR ENERGY RESOURCES, LP and EER FINANCE, INC.: $300 million; Credit Suisse Securities, Wells Fargo, Credit Agricole, Mitsubishi UFJ Securities, U.S. Bancorp, RBS.

Started July 31: BMC SOFTWARE: $1.38 billion equivalent; Credit Suisse, RBC, Barclays, Deutsche Bank, Citigroup, Jefferies, Mizuho Securities.

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