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Published on 6/6/2003 in the Prospect News High Yield Daily.

High Yield Calendar

Total amount of dollar-denominated high-yield bond offerings being marketed: $3.11 billion

WEEK OF JUNE 9

NEW WORLD RESTAURANT GROUP, INC.: $160 million senior secured notes due 2008 (B3/B-); Jefferies & Co.; Rule 144A; to repay debt including senior secured increasing-rate notes due June 2006; Hamilton, N.J. restaurant operator; price talk 12½% plus or minus 25 basis points; pricing at the end of the week of June 2.

CBD MEDIA LLC: $150 million subordinated notes due 2013 (B3/B-); Lehman Brothers, Banc of America Securities (joint), TD Securities (co); Rule 144A; to repay debt and pay $133 million cash dividend; Cincinnati yellow pages publisher; price talk 8 5/8%-8 7/8%; pricing early in the week of June 9.

QUALITY DISTRIBUTION, LLC/QD CAPITAL CORP.: $175 million senior secured notes due 2008 (Caa1/B-); Credit Suisse First Boston (books), Deutsche Bank Securities (co); Rule 144A; non-callable for three years; to repay bank debt; Tampa, Fla.-based operator of tank truck fleets.

DOMINO'S, INC.: $450 million senior subordinated notes due 2011 (B3/B-); JP Morgan; Rule 144A/Regulation S; to pay a dividend to the owners after five years of ownership, and take out a tranche of preferred stock; pizza chain operator is headquartered in Ann Arbor, Mich.; roadshow starts during the week of June 2.

COOPERATIVE COMPUTING, INC: $175 million senior notes due 2011 (B2/B+); JP Morgan; Rule 144A; non-callable for four years; to repurchase shares and repay debt; Austin, Texas provider of enterprise systems and information services for automotive aftermarket; roadshow began May 30; pricing expected Friday.

OMNICARE, INC.: $250 million senior subordinated notes due 2013 (Ba2/BB+); Lehman Brothers, JP Morgan, UBS Warburg (joint), SunTrust Robinson Humphrey, Wachovia Securities, CIBC World Markets (co's); off-the-shelf; non-callable for five years; three year equity clawback for up to 35%; to help repay existing $474 million credit facility; roadshow June 4-9; pricing early in the week of June 9.

http://www.sec.gov/Archives/edgar/data/353230/000119312503008186/d424b5.htm

TENNECO AUTOMOTIVE INC.: $300 million senior secured second lien notes due 2013 (B2/CCC+/B); JP Morgan, Morgan Stanley, Banc of America Securities (joint); Rule 144A; non-callable for five years; to prepay certain term loans and revolver; automotive parts supplier based in Lake Forest, Ill.; roadshow June 2-10.

LODGENET ENTERTAINMENT CORP.: $185 million of senior subordinated notes due 2013 (B3/B-); Bear Stearns (books) UBS Warburg, CIBC World Markets (co's); off-the-shelf; non-callable for five years; 35% equity clawback for up to three years; to repay debt; Sioux Falls, S.D. broadband interactive services provider to lodging industry; roadshow June 5-11.

http://www.sec.gov/Archives/edgar/data/911002/000095013403008834/c77401b5e424b5.htm

XM SATELLITE RADIO: $125 million senior secured notes due 2010; Bear Stearns; Rule 144A; non-callable for four years; for interim advances for satellite launches and to retire and refinance debt; Washington, D.C.-based satellite radio service; roadshow started Tuesday at Bear Stearns conference; expected to price June 11.

IPSCO INC. $150 million senior notes due 2013 (Ba3/BB+); UBS Warburg, RBC (joint books), ABN Amro, CIBC World Markets, TD Securities, Wells Fargo (co's); Rule 144A; to repay credit facility, to redeem 10.58% notes and for general corporate purposes; Regina, Saskatchewan steel producer; roadshow June 3-12; pricing June 13.

WEEK OF JUNE 16

LE-NATURE'S, INC.: $150 million senior subordinated notes due 2013 (B-); Wachovia Securities; non-callable for five years; repay bank debt and general corporate purposes; LaTrobe, Pa. manufacturer OF flavored bottled water and other beverages; roadshow starts June 10; pricing early to middle of June 16 week.

JUNE BUSINESS

ALARIS MEDICAL INC.: $210 million senior subordinated notes (B3/B-); Bear Stearns, Citigroup, UBS Warburg; off the shelf; also new credit facility and 9.1 million common shares offering; to fund tender for outstanding 11 1/8% senior discount notes due 2008, 11 5/8% senior secured notes due 2006 and 9¾% senior subordinated notes due 2006, Citigroup dealer-manager, expires at 5 p.m. on June 20, 2003.

SECOND QUARTER

RESOURCE AMERICA, INC.: $30 million of senior notes due 2008; Bear Stearns and Friedman Billings Ramsey (joint); registered; callable on Aug. 1, 2006 at 106; concurrently company will offer up to $65.336 million of new notes in exchange for all outstanding 12% senior notes due 2004; Philadelphia-based oil and natural gas company.

http://www.sec.gov/Archives/edgar/data/83402/000095011603001564/s3.txt

LOEWS CINEPLEX THEATRES: senior subordinated notes; Rule 144A; coming with senior credit facility and IPO; IPO via Goldman Sachs, Citigroup, Credit Suisse First Boston and Merrill Lynch; to repay debt and for general corporate purposes; motion picture exhibitor headquartered in New York City.

RIVERWOOD HOLDING INC./GRAPHIC PACKAGING INTERNATIONAL CORP.: $1.5 billion financing in high yield bonds and bank debt; notes via Deutsche Bank Securities, JP Morgan (joint) credit facility lead by JPMorgan, Deutsche Bank, Goldman Sachs and Morgan Stanley (equal leads in financing), Citigroup, Credit Suisse First Boston (co's); to fund merger of Riverwood Holding Inc. and Graphic Packaging International Corp.

JULY BUSINESS

MEDCO HEALTH SOLUTIONS, INC.: $500 million senior notes due 2013; Goldman Sachs, JP Morgan, Citigroup; also $1.15 billion senior secured credit facility; public; callable; 35% equity clawback for three years; to help pay cash dividend to Merck; roadshow expected in July.

http://www.sec.gov/Archives/edgar/data/1170650/000119312503008107/ds1a.htm

ON THE HORIZON

VANTICO GROUP SA: $325 million of senior secured notes; Rule 144A; also $75 million credit facility; part of debt restructuring.

WACKENHUT CORRECTIONS CORP.: new debt; company also has committed financing from BNP Paribas that will involve a restructuring of the existing senior credit facility; to repurchase all 12 million shares of common stock held by Group 4 Falck A/S, its 57% majority shareholder for $132 million in cash; closing anticipated by the end of June 2003.

SEMINIS INC.: $175 million (minimum) high-yield bonds; also new credit facility led by Citigroup and Bank of Montreal; part of merger agreement with Savia, SA de CV

WATERFORD GAMING FINANCE CORP.: $150 million senior notes due Sept. 2012 (B1/B+); to fund tender for $102.345 million of 9½% senior notes due 2010 led by dealer-managers Deutsche Bank Securities; offer expires June 11.

POWER CONTRACT FINANCING LLC (Calpine Corp.): $800 million senior secured notes due 2010 (BBB); to fund capital expenditures; secured by fixed cash flows from one of Calpine Energy Services' fixed-priced, long-term power sales agreements with the State of California Department of Water Resources and a new fixed-priced, long-term power purchase agreement with a third party.

ROADSHOWS

Started May 16: QUALITY DISTRIBUTION, LLC/QD CAPITAL CORPORATION $175 million; Credit Suisse First Boston; Rule 144A; 5NC3

Started week of May 26: CBD MEDIA LLC $150 million; Lehman Brothers, Banc of America Securities; Rule 144A; 10 years

Started May 30: COOPERATIVE COMPUTING, INC. $175 million; JP Morgan; Rule 144A; 8NC4

June 2-10: TENNECO AUTOMOTIVE INC. $300 million; JP Morgan, Morgan Stanley, Banc of America Securities; Rule 144A; 10NC5

Starts week of June 2: DOMINO'S, INC. $450 million; JP Morgan; Rule 144A/Regulation S; 8-year maturity

June 3-12: IPSCO INC. $150 million; UBS Warburg, RBC; Rule 144A; 10-year maturity

Started June 3: XM SATELLITE RADIO $125 million; Bear Stearns; Rule 144A; 7NC4

June 4-9: OMNICARE, INC. $250 million; Lehman Brothers, JP Morgan, UBS Warburg; off-the-shelf; 10NC5.

June 5-11: LODGENET ENTERTAINMENT CORP. $185 million; Bear Stearns; shelf; 10NC5

Starts June 10: LE-NATURE'S, INC. $150 million; Wachovia Securities; 10NC5

Starts in July: MEDCO HEALTH SOLUTIONS, INC. $500 million; Citigroup, JP Morgan, Goldman Sachs; 10-year maturity

RECENT SHELF FILINGS

ISTAR FINANCIAL INC.: $500 million shelf filed June 6 for common stock, preferred stock, depositary shares, debt securities and warrants; includes $100.84 million previously registered but unsold; securities may be issued as convertibles; New York commercial real estate finance company will use proceeds for general corporate purposes.

http://www.sec.gov/Archives/edgar/data/1095651/000104746903020754/a2112626zs-3.htm


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