barclays financial sponsors weekly newsletter_oct 11
DESCRIPTION
Barclays newsletterTRANSCRIPT
![Page 1: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/1.jpg)
1
Week ending October 11, 2013
On October 9, 2013, Antero
Resources (NYSE: AR) priced a $1.6
billion initial public offering. The
offering consisted of 35.73 million
common shares offered at $44.00.
The 15% overallotment option
represents 5.36 million shares (3.41
million shares secondary; remaining
1.95 million shares primary). The
company plans to use the proceeds
to repay outstanding debt under its
credit facility. Antero Resources is a
portfolio company of Warburg Pincus.
Barclays acted as the Lead Left
Joint Bookrunner on the
transaction.
Antero is an independent oil and
natural gas company engaged in the
exploitation, development and
acquisition of natural gas, NGLs and
oil properties located in the
Appalachian Basin in West Virginia,
Ohio and Pennsylvania. Antero
Resources assets include ~329,000
net acres in the southwestern core of
the Marcellus Shale and ~102,000
net acres in the core of the Utica
Shale. The company is currently
running 15 rigs in the Marcellus Shale
and 4 rigs in the Utica Shales.
Contents Barclays Deal of the Week
Leveraged Capital Markets Update ........... 3
Equity Capital Markets Update…………...18
Upcoming Conferences .......................... 23
Contact Information ................................. 24
Distribution Note: If you would like to add colleagues to the email distribution list, please email
Greg Barnes at: [email protected]
U.S. FINANCIAL SPONSORS WEEKLY NEWSLETTER
Transaction Overview October 9, 2013
Lead Left Joint Bookrunner
$1.6 billion
Initial Public Offering
a portfolio company of
![Page 2: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/2.jpg)
2
Week ending October 11, 2013
Selected Sponsor-Related News
___________________________ Source: Bloomberg, Wall Street Journal, New York Times, Reuters, peHUB, Mergermarket and TheDeal.
Industrials
Crestview Partners Completes Acquisition
On September 24, 2013, Spotless Group allocated $1,268
million of senior secured credit facilities consisting of a
A$200 million revolving credit facility, a $845 million term
loan B and a $235 million 2nd lien term loan. The 5-year
term loan B priced at L+400 with a 1% LIBOR floor at 99.5,
while the 5.5-year 2nd lien term loan priced at L+775 with a
1% LIBOR floor at 99.0. Proceeds from the offering will be
used to refinance existing indebtedness, distribute a
dividend and pay related costs. Spotless is a portfolio
company of Pacific Equity Partners.
Barclays acted as Joint Lead Arranger, Joint
Bookrunner and Swap Provider on the transaction.
Business Description:
Spotless is a provider of outsourced facilities management
in Australia and New Zealand. The company provides a
range of integrated outsourced services focused on
facilities management, asset maintenance, cleaning
services, food services and laundry services.
Technology
Oberthur Technologies Completes Offering
On October 10, 2013, KKR announced the signing of a
definitive agreement to acquire The Crosby Group and
Acco Material Handling Solutions from Melrose Industries
for approximately $1.0 billion. The transaction is subject to
customary regulatory approvals and is expected to close in
the fourth quarter of 2013.
Business Description:
With roots dating back to 1885, Crosby is a global provider
of highly engineered solutions for lifting and rigging
applications across the oil and gas, construction, mining
and industrial sectors. Headquartered in Tulsa, Oklahoma,
Crosby’s brands include including Crosby, McKissick,
National and Lebus.
Acco, headquartered in York, Pennsylvania, provides
custom-built specialty material handling equipment,
including a full line of hoists, industrial cranes, monorails,
carts and trailers that are sold under the Louden, Wright
and Nutting brands.
Industrials
KKR to Acquire Crosby and Acco Material Handing
Business Services
Spotless Group Completes Offering
On October 11, 2013, The Sterling Group announced that it
has completed the sale of its portfolio company, Stackpole
International, to funds managed by Crestview Partners.
Stackpole was majority owned by Sterling with minority
investments by Current Capital and management. The sale
returns a substantial portion of called capital and fees to
date. Terms of the transaction were not disclosed.
Barclays acted as Exclusive Financial Advisor to
Stackpole and was the Sole Provider of a deal
contingent FX hedge.
Business Description:
Headquartered in Ancaster, Ontario, Stackpole is a
manufacturer and supplier of highly engineered oil-pumps
and powdered metal components to automotive original
equipment manufacturers. The company supplies, under
long-term contracts, engine and transmission platforms that
support vehicles worldwide.
On October 9, 2013, Oberthur Technologies completed a
€656 million equiv. refinancing of existing credit facilities.
The total amount of financing raised was split into a €466
million equiv. dual-currency covenant-lite term loan and
€190 million of senior notes. Net proceeds from the offering
will be used to repay the company’s existing credit
facilities. The €466 million equiv. term loan was split
between a €260 million 6-year tranche priced at E+500 with
a 1% Euribor floor at 99.0 and a $280 million 6-year
tranche priced at L+475 with a 1% LIBOR floor at 99.0. The
6.5-year €190 million senior notes priced at par to yield
9.25%. Oberthur is a portfolio company of Advent
International.
Barclays acted as Joint Lead Arranger and Joint
Bookrunner on the transaction.
Business Description:
Oberthur Technologies is a provider of chip-based digital
authentication products and related solutions. Oberthur
provides embedded software products to its customers
either as stand-alone or bundled products.
![Page 3: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/3.jpg)
3
Week ending October 11, 2013
___________________________ Sources: Bloomberg and Barclays Indices. 1. On-the-run index. 2. Lipper FMI (AMG Data). Cumulative periods include all weekly and monthly reporters (YE, ME, Assets Reported, YTD ’13). All other periods
include only weekly reporters.
SECONDARY MARKET COMMENTARY
BENCHMARK INDICES
EQUITIES: Stocks continued to rally on Friday, extending Thursday’s gains as investors grew more optimistic over
the progress in Washington, with Democrats and Republicans moving closer to extending the country’s borrowing
authority before the deadline next Thursday. Despite the equity market rally, economic data was negative, with
consumer sentiment falling in October to its weakest level in nine months as the government shutdown affected
the outlook on the economy. The DJIA finished the week 164.53 points (1.09%) higher at 15,237.11, and the S&P
500 finished 12.70 points (0.75%) higher week over week at 1,703.20.
LEVERAGED LOAN: The stalemate in Washington had less of an impact on the leveraged loan secondary
market than it had on other asset classes. As equities sold off in the early part of the week, the leveraged loan
market held in, with the tone improving on Thursday and Friday alongside the broader market. The technical
backdrop continues to be supportive, as Lipper reported an inflow of $556.1mm for the week ended 10/9. The
S&P flow name index finished the week 4bps higher at 98.80.
HIGH YIELD: The high yield secondary market was quieter this week, with investors focusing in on the
developments around the government shutdown and the debt ceiling negotiations. Despite the uncertainty around
a potential resolution in Washington, many of this week’s new issues traded higher upon breaking into the
secondary market. For the week ended 10/9, Lipper reported an inflow of $488.9mm, the fifth consecutive week of
inflows into the asset class. The HY CDX finished the week 21/32 higher at 105.78125.
Year End Month End Friday Friday Return12/31/2012 9/30/2013 10/4/2013 10/11/2013 WTD ∆ MTD ∆ YTD ∆ YTD
Equity
Dow Jones Industrial 13,104.1 15,129.7 15,072.6 15,237.1 164.5 pts 107.4 pts 2,133.0 pts 16.28%
S&P 500 1,426.2 1,681.6 1,690.5 1,703.2 12.7 pts 21.7 pts 277.0 pts 19.42%
Government Benchmark
10-year US Treasury 1.75% 2.61% 2.65% 2.69% 4.2 bps 7.7 bps 93.8 bps --
Leveraged Loan
Barclays High Yield Loan Index 96.68 98.05 98.14 98.32 0.18 pts 0.27 pts 1.64 pts 3.84%
S&P Flownames Index 98.83 98.67 98.76 98.80 0.04 pts 0.13 pts (.03) pts --
High Yield
Barclays High Yield Index 104.62 101.85 102.21 102.42 0.21 pts 0.57 pts (2.20) pts 4.53%
HY CDX (1)
100.38 104.41 105.13 105.78 0.66 pts 1.37 pts 5.41 pts --
($ millions) 2012 September 10/4/2013 10/11/2013 WTD ∆ 4-Wk MA
Assets
Reported YTD '13
Mutual Fund Flows (2)
Bank Loan 11,799.0 5,185.0 767.5 556.1 (211.4) 853.3 132,895.6 54,712.0
High Yield 28,775.0 4,240.0 238.3 488.9 +250.6 1,301.2 288,990.0 (7,889.0)
Leveraged Capital Markets Update
![Page 4: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/4.jpg)
4
Week ending October 11, 2013
• Activity in the leveraged loan primary activity has slowed, as opportunistic issuers were generally on the sidelines this week due to the
deadlock in Washington. Larger event driven transactions garnered interest from investors, as many of these deals were able to
tighten pricing and terms; meanwhile, some smaller, less-liquid transactions were forced wider. Total supply for the week ended 10/10
was $8.59bn, raising the YTD supply to $493.93bn. The forward calendar is now $25.88bn, down from $31.54bn the previous week.
375.3
493.9
236.2
465.7
55.263.2
39.1
68.062.4
74.2
52.4
18.9
48.9
69.0
44.9
16.7 16.6
0
100
200
300
400
500
2010 2011 2012 YTD
2013
10-12 11-12 12-12 1-13 2-13 3-13 4-13 5-13 6-13 7-13 8-13 9-13 10-13
0
16
32
48
64
80
Institutional Pro Rata
___________________________ Shading denotes Barclays’ involvement in the transaction.
LEVERAGED LOAN PRIMARY MARKET ACTIVITY
Primary Market Commentary
Recently Priced Leveraged Loan Transactions
Leveraged Loan New Issue Supply ($ billions)
Pricing Cov- Corp Facility Instit. 4 yr
Date Name UOP Industry Lite Ratings Ratings RC/TLA Tranche Size Tenor Spread OID Floor Yield
11-Oct-13 Alliance Healthcare Refi Healthcare - B1/B+ B1/B+ - TLB $70.0 mm 5.6 years L+ 325 99.00 1.00% 4.50%
11-Oct-13 Seminole Tribe of Florida Refi Gaming - NR/BBB- Baa3/BBB- - TLB-2 $395.0 mm 4.0 years L+ 200 100.00 0.00% 2.00%
11-Oct-13 Syncreaon Holdings M&A Services Y B2/B Ba3/B $100.0 mm TLB $525.0 mm 7.0 years L+ 425 97.00 1.00% 6.00%
11-Oct-13 Huntsman Corp M&A Chemicals Y Ba3/BB+ Ba2/BB+ $200.0 mm TLB $1,200.0 mm 7.0 years L+ 300 99.50 0.75% 3.88%
11-Oct-13 Digital Insight LBO Financial Services Y B3/B B1/B+ $20.0 mm TLB $385.0 mm 6.0 years L+ 375 99.50 1.00% 4.88%
11-Oct-13 Digital Insight LBO Financial Services Y B3/B Caa2/CCC+ - 2nd Lien $215.0 mm 7.0 years L+ 775 99.00 1.00% 9.00%
10-Oct-13 Harvey Gulf International MarineM&A Nat Res - B1/B B1/B - TLA $75.0 mm 4.8 years L+ 400 99.50 1.00% 5.13%
10-Oct-13 Harvey Gulf International MarineM&A Nat Res - B1/B B1/B - TLB $275.0 mm 4.8 years L+ 450 99.00 1.00% 5.75%
9-Oct-13 Oberthur Technologies Refi Tech Y B2/B- B1/B- - TLB $280.0 mm 6.0 years L+ 475 99.00 1.00% 6.00%
9-Oct-13 Oberthur Technologies Refi Tech Y B2/B- B1/B- - EUR TLB $351.0 mm 6.0 years E+500 99.00 1.00% 6.25%
9-Oct-13 CityCenter Holdings Refi Gaming Y B3/B B3/B+ $75.0 mm TLB $1,700.0 mm 7.0 years L+ 400 99.00 1.00% 5.25%
8-Oct-13 Learfield Communications LBO Media Y B3/B B2/B+ $30.0 mm TLB $215.0 mm 7.0 years L+ 400 99.50 1.00% 5.13%
8-Oct-13 Learfield Communications LBO Media Y B3/B Caa2/CCC+ - 2nd Lien $85.0 mm 8.0 years L+ 775 99.00 1.00% 9.00%
8-Oct-13 Britax Refi Consumer Y B1/B B1/B $54.0 mm TLB $280.0 mm 6.0 years L+ 350 99.50 1.00% 4.63%
8-Oct-13 Britax Refi Consumer Y B1/B B1/B - EUR TLB $88.4 mm 6.0 years E+375 99.50 1.00% 4.88%
8-Oct-13 Britax Refi Consumer Y B1/B B1/B - A$TLB $23.5 mm 6.0 years L+ 400 99.50 1.00% 4.88%
8-Oct-13 Hudson's Bay Company M&A Retail Y B1/B+ B3/B- - 2nd Lien $300.0 mm 8.0 years L+ 725 99.00 1.00% 8.50%
7-Oct-13 Shelf Drilling Midco Div/Recap Nat Res Y B1/B+ B2/B- -PIK TOGGLE TLB
$350.0 mm 5.0 years L+ 900 97.00 1.00% 10.75%
7-Oct-13 Catalina Marketing Refi Services Y B2/B B1/B+ - TLB $790.0 mm 7.0 years L+ 425 99.50 1.00% 5.38%
7-Oct-13 Rue 21 LBO Retail - Caa1/B- B3/B- $150.0 mm TLB $538.5 mm 7.0 years L+ 463 81.50 1.00% 10.25%
7-Oct-13 Hudson's Bay Company M&A Retail Y B1/B+ B1/BB $950.0mm (ABL) TLB $2,000.0 mm 7.0 years L+ 375 99.00 1.00% 5.00%
4-Oct-13 TMS International M&A Industrial Y B1/B+ Ba3/B+ $175.0mm (ABL) TLB $425.0 mm 7.0 years L+ 350 99.50 1.00% 4.63%
4-Oct-13 Hyperion Insurance Group Refi Financial Services - B2/B B1/B - TLB $250.0 mm 6.0 years L+ 475 98.50 1.00% 6.13%
4-Oct-13 99 Cents Only Stores Refi* Retail Y B2/B B2/B+ - TLB $613.8 mm 5.4 years L+ 350 100.00 1.00% 4.50%
3-Oct-13 HealthPort Div/Recap Tech - B2/B B1/B+ $25.0 mm TLB $255.0 mm 6.0 years L+ 400 99.00 1.25% 5.50%
3-Oct-13 HealthPort Div/Recap Tech - B2/B Caa1/CCC+ - 2nd Lien $125.0 mm 7.0 years L+ 800 98.50 1.25% 9.63%
2-Oct-13 NES Global Talent Div/Recap Services - NR NR $60.0 mm TLB $185.0 mm 6.0 years L+ 550 98.00 1.00% 7.00%
2-Oct-13 Aptalis Pharma Div/Recap Healthcare Y B2/B+ B2/B+ $150.0 mm TLB $1,250.0 mm 7.0 years L+ 500 99.00 1.00% 6.25%
2-Oct-13 The Topps Company Refi Retail - B2/B B1/B $25.0 mm TLB $135.0 mm 6.0 years L+ 600 99.00 1.25% 7.50%
1-Oct-13 Safe Fleet Acquisition LBO Consumer - NR NR $30.0 mm TLB $122.0 mm 6.0 years L+ 375 99.50 1.00% 4.88%
1-Oct-13 Acosta Sales & Marketing Refi* Services - TBA/B+ TBA/B+ - TLB $1,264.0 mm 4.5 years L+ 325 100.00 1.00% 4.25%
1-Oct-13 Caesars Entertainment Refi Gaming - B3/CCC+ B2/B $269.5 mm TLB $2,500.0 mm 7.0 years L+ 600 98.00 1.00% 7.50%
1-Oct-13 Mitchell International LBO Tech Y B3/B- B1/B $50.0 mm TLB $490.0 mm 7.0 years L+ 350 99.50 1.00% 4.63%
1-Oct-13 Mitchell International LBO Tech Y B3/B- Caa2/CCC - 2nd Lien $245.0 mm 8.0 years L+ 750 99.00 1.00% 8.75%
1-Oct-13 Penton Media Refi Media Y B3/B B1/B+ $50.0 mm TLB $460.0 mm 6.0 years L+ 425 99.00 1.25% 5.75%
1-Oct-13 Penton Media Refi Media Y B3/B Caa2/CCC+ - 2nd Lien $205.0 mm 7.0 years L+ 775 98.50 1.25% 9.38%
Leveraged Capital Markets Update
![Page 5: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/5.jpg)
5
Week ending October 11, 2013
Recently Priced High Yield Transactions ($ in millions)
___________________________ Shading denotes Barclays’ involvement in the transaction, Transaction proceeds / face amounts are shown In US dollar equivalents.
HIGH YIELD PRIMARY MARKET ACTIVITY
Primary Market Commentary
High Yield New Issue Supply ($ billions)
385.9320.3
340.7
282.2
55.248.7
44.5
34.830.6
35.343.8
29.6
53.6
17.1
30.2
13.9 11.9
0
100
200
300
400
2010 2011 2012 YTD
2013
10-12 11-12 12-12 1-13 2-13 3-13 4-13 5-13 6-13 7-13 8-13 9-13 10-13
0
15
30
45
60
USD Non-USD
• Although activity was up from the previous week, the high yield primary market had a relatively quiet week overall. Despite only
having 12 transactions price, the total volume for the week reached $8.84bn ($10.12 globally), thanks in large part to the $5.6bn issued
by T-mobile mid-week. The forward pipeline remains light as many issuers accessed the market ahead of the government shutdown,
and therefore, the moderate pace is expected to continue into the upcoming holiday-shortened week. YTD supply has reached
$269.80bn ($340.67bn globally).
High Yield Transactions Currently In Market ($ in millions)
Issuer Proceeds Coupon Security Description Structure Ratings Industry UOP Price Yield1/0/1900 (USD $mm) 0.000% 0 / 0 0 0.000% 0.000%
REN Financedes $540.0 4.750% Senior Notes 7 NCL Ba1 / BB+ Power GCP 99.850% 4.776%
Xella Holdco Finance $270.4 9.125% Senior PIK Notes (EUR) 5 NC1.5 B2 / B- Industrial GCP 100.000% 9.125%
Aviv Healthcare $250.0 6.000% Senior Notes 8 NC4 Ba3 / BB Healthcare Bank Refi 100.000% 6.000%
L Brands Inc $500.0 5.625% Senior Notes 10 NCL Ba1 / BB+ Retail Bond Refi 100.000% 5.625%
Wynn Macau Ltd $600.0 5.250% Senior Notes 8 NC3 Ba2 / BB Gaming/Leisure GCP 100.000% 5.250%
NGL Energy Partners LP/NGL Finance Corp $450.0 6.875% Senior Notes 8 NC3 B2 / BB- Nat Res Bank Refi 100.000% 6.875%
Millicom Intl Cellular $800.0 6.625% Senior Notes 8 NC4 Ba2 / NR Telecom Corp M&A 100.000% 6.625%
Hapag-Lloyd AG $207.2 7.750% Senior Notes 5 NC2 Caa1 / B- Transportation Bond Refi 101.750% 7.326%
T-Mobile USA $1,275.0 6.464% Senior Notes 5.5 NC1.5 Ba3 / BB Telecom Other 102.000% 6.033%
T-Mobile USA $1,250.0 6.542% Senior Notes 6.5 NC2.5 Ba3 / BB Telecom Other 100.000% 6.542%
T-Mobile USA $1,250.0 6.633% Senior Notes 7.5 NC3.5 Ba3 / BB Telecom Other 100.000% 6.633%
T-Mobile USA $1,237.5 6.731% Senior Notes 8.5 NC3.5 Ba3 / BB Telecom Other 99.000% 6.887%
T-Mobile USA $588.0 6.836% Senior Notes 9.5 NC4.5 Ba3 / BB Telecom Other 98.000% 7.128%
Oberthur Technologies $258.0 9.250% Senior Notes (EUR) 6.5 NC3 Caa1 / CCC Technology Bank Refi 100.000% 9.250%
Memorial Production $291.0 7.625% Senior Notes 7.5 NC3.5 Caa1 / B- Nat Res Industial 97.000% 8.163%
Michael Baker $350.0 8.250% Senior Sec Notes 5 NC2.5 B2 / B+ Industrials Corp M&A 100.000% 8.250%
Total $10,117.2 Transactions 12
Issuer Amount Security Description Structure Ratings Industry UOP Announced1/0/1900 *In Home Currency 0 / 0.0x 0.0x 1/0
Gaming & Leisure Properties Inc. $683.0 Senior Notes 5 Ba1 / BBB- Real Estate Dividend 10/11
Gaming & Leisure Properties Inc. $683.0 Senior Notes 7 Ba1 / BBB- Real Estate Dividend 10/11
Gaming & Leisure Properties Inc. $683.0 Senior Notes 10 Ba1 / BBB- Real Estate Dividend 10/11
Penn National Gaming Inc $300.0 Senior Notes 10 B1 / B+ Gaming/Leisure Refi 10/11
Crew Energy $250.0 Senior Notes 7 NC3 / 0.0x GCP 10/10
Albain Bidco Norway AS $167.6 Senior Sec FRN (NOK) 7 NC3 / 0.0x 0.0x 10/9
Albain Bidco Norway AS $162.5 Senior Sec Notes (EUR) 7 NC3 / 0.0x 0.0x 10/9
Wajax Corp $125.0 Senior Notes 7 NC4 / Industrial Bank Refi 10/9
Neiman Marcus $960.0 Senior Notes 8 NC3 Caa2 / Retail LBO 10/8
Neiman Marcus $600.0 Senior PIK Toggle Notes 8 NC3 Caa2 / Retail LBO 10/8
Allied Specialty Vehicles $200.0 Senior Notes 7 NC3 / 0.0x Corp M&A 10/7
Syncreon Group $225.0 Senior Notes 8 NC3 Caa1 / CCC+ Transportation Dividend 10/7
Total $5,039.1 Transactions 8
Leveraged Capital Markets Update
![Page 6: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/6.jpg)
6
Week ending October 11, 2013
37.6
22.6
6.7
15.9
32.2
45.1
29.3 29.2
20.2
10.912.6
3.1 2.4
$0
$10
$20
$30
$40
$50
Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13
($bn)
RECENT LOAN REPAYMENTS AND MUTUAL FUND DATA
Institutional Loan Repayments
Weekly Leveraged Loan Fund Flows
Weekly High Yield Fund Flows
989
1,352 1,396
1,075993
777
1,7091,851
1,338
1,872
1,455
1,802
1,179
728
1,553
1,327
768
762556
$0$200
$400$600$800
$1,000
$1,200$1,400$1,600
$1,800$2,000
6/5 6/26 7/17 8/7 8/28 9/18 10/11
($mm)
Flows 4 Wk. Avg.
Source: Standard and Poor’s LCD, Reported on a one week lagging basis.
2013 YTD Total: $200.9bn
(4,634)
(3,284)
(333)
(3,125)
449
3,278
(2,334)
55
(416)
6321,395
238 489
3,083
486
(388)
(1,027)
12
2,667
($5,000)
($4,000)
($3,000)
($2,000)
($1,000)
$0
$1,000
$2,000
$3,000
$4,000
6/5 6/26 7/17 8/7 8/28 9/18 10/11
($mm)
Flows 4 Wk. Avg.
Source: Lipper FMI (AMG Data), Weekly reporters only, Reading every Wednesday.
Source: Lipper FMI (AMG Data), Weekly reporters only, Reading every Wednesday.
Leveraged Capital Markets Update
![Page 7: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/7.jpg)
7
Week ending October 11, 2013
LEVERAGED LOAN SECONDARY MARKET OVERVIEW
Leveraged Loan Secondary Market Levels
Leveraged Loan Secondary Market Performance (1)
Leveraged Loan Index Composites
Source: S&P LCD – Secondary Price & Spread levels for 15 Largest Issuers. Average Bid and Nominal Spreads are not a weighted average.
Discounted Spreads are based on the 4 year repayment.
95
96
97
99
100
101
Oct-12 Dec-12 Jan-13 Mar-13 May-13 Jun-13 Aug-13 Oct-13
(Price)
Barclays HY Loan Index S&P Flownames
BB-/Ba3 B+/B1 B/B2 BB-/Ba3 B+/B1 B/B2 BB-/Ba3 B+/B1 B/B2 BB-/Ba3 B+/B1 B/B2
Avg Bid 99.90 98.99 98.63 99.28 96.46 98.33 100.66 99.82 100.45 100.06 99.85 99.38
Secondary Spread to Maturity L+359 L+396 L+444 L+456 L+494 L+569 L+401 L+411 L+505 L+365 L+336 L+452
Yield to Maturity 3.89% 4.26% 4.74% 4.90% 5.29% 6.03% 4.31% 4.41% 5.34% 3.93% 3.64% 4.80%
Yield to 4-year call: 3.89% 4.28% 4.76% 4.95% 5.45% 6.15% 4.27% 4.42% 5.31% 3.92% 3.64% 4.84%
Average Outstanding Loan Size: $0.8B $1.3B $1.1B $0.7B $1.2B $0.9B $1.1B $1.3B $1.3B $1.7B $1.8B $1.7B
Price Range
Min 97.8 93.2 93.0 98.5 85.9 94.5 99.9 94.1 98.0 98.9 98.8 89.4
Max 100.8 101.2 101.5 100.4 99.6 100.8 101.3 100.8 101.3 100.6 100.8 100.7
Nominal Spreads
Average spread L+356 L+369 L+405 L+438 L+403 L+528 L+417 L+407 L+515 L+366 L+332 L+438
Discounted Spreads
Average spread L+359 L+398 L+445 L+460 L+509 L+579 L+398 L+412 L+502 L+365 L+336 L+456
Dec-10 10/11/2013Dec-11 Dec-12
Year End Month End Friday Friday YTD MTD
12/31/2012 9/30/2013 10/4/2013 10/11/2013 ∆ YTD ∆ MTD ∆ Week Return Return
S&P Flownames 98.83 98.67 98.76 98.8 (.0) pts 0.1 pts 0.0 pts -- --
US High-Yield Loans
Price 96.68 98.05 98.14 98.32 1.6 pts 0.3 pts 0.2 pts
Spread 474 bps 443 bps 443 bps 443 bps (31) bps (0) bps (1) bps 3.84% 0.23%
Double-B Loans
Price 100.43 99.79 99.88 99.85 (.6) pts 0.1 pts (.0) pts
Spread 426 bps 371 bps 371 bps 369 bps (57) bps (2) bps (2) bps 2.58% 0.18%
Single-B Loans
Price 98.92 99.21 99.37 99.34 0.4 pts 0.1 pts (.0) pts
Spread 508 bps 473 bps 475 bps 475 bps (33) bps 2 bps 1 bps 4.05% 0.30%
Triple-C Loans
Price 78.18 82.59 82.45 84.06 5.9 pts 1.5 pts 1.6 pts
Spread 486 bps 627 bps 628 bps 649 bps 162 bps 21 bps 21 bps 7.23% 0.09%
Leveraged Capital Markets Update
![Page 8: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/8.jpg)
8
Week ending October 11, 2013
HIGH YIELD SECONDARY MARKET OVERVIEW
High Yield Secondary Market Levels
High Yield Secondary Performance (1)
1. On-the-run HY CDX Index. The Series 20 index rolled to the Series 21 on Friday, September 27.
4.5%
4.9%
5.3%
5.7%
6.1%
6.5%
6.9%
7.3%
7.7%
8.1%
8.5%
Oct-12 Dec-12 Mar-13 May-13 Jul-13 Oct-13
(YTW)
88
90
92
94
96
98
100
102
104
106
108
(Price)
HY Index (LHS) HY CDX (RHS)
Year End Month End Friday Friday YTD MTD
12/31/2012 9/30/2013 10/4/2013 10/11/2013 ∆ YTD ∆ MTD ∆ Week Return Return
HY CDX (1) 100.38 104.41 105.13 105.78 5.4 pts 1.4 pts 0.7 pts -- --
U.S. High Yield
Price 104.62 101.85 102.21 102.42 (2.2) pts 0.6 pts 0.2 pts
Yield 6.13% 6.23% 6.12% 6.06% (0.07%) (0.17%) (0.06%)
Spread 539 bps 496 bps 486 bps 480 bps (60) bps (16) bps (6) bps 4.53% 0.77%Double-B Index
Price 108.05 103.03 103.51 103.74 (4.3) pts 0.7 pts 0.2 pts
Yield 4.69% 5.03% 4.91% 4.86% 0.17% (0.16%) (0.05%)
Spread 382 bps 360 bps 349 bps 343 bps (39) bps (17) bps (6) bps 2.70% 0.85%Single-B Index
Price 106.23 103.53 103.87 104.12 (2.1) pts 0.6 pts 0.3 pts
Yield 5.80% 5.98% 5.86% 5.76% (0.04%) (0.22%) (0.10%)
Spread 512 bps 486 bps 475 bps 464 bps (48) bps (22) bps (11) bps 4.40% 0.82%Triple-C Index
Price 98.49 100.26 100.47 100.63 2.1 pts 0.4 pts 0.2 pts
Yield 9.05% 8.22% 8.13% 8.12% (0.93%) (0.10%) (0.01%)
Spread 847 bps 710 bps 703 bps 702 bps (145) bps (7) bps (1) bps 9.74% 0.54%
Very Liquid High Yield
Price 106.71 102.31 102.81 103.04 (3.7) pts 0.7 pts 0.2 pts
Yield 5.77% 6.02% 5.85% 5.81% 0.04% (0.21%) (0.04%)
Spread 505 bps 473 bps 458 bps 453 bps (52) bps (20) bps (5) bps 3.74% 0.91%Euro High Yield (€)
Price 101.46 102.83 103.23 103.64 2.2 pts 0.8 pts 0.4 pts
Yield 6.63% 6.06% 6.01% 5.87% (0.76%) (0.19%) (0.13%)
Spread 553 bps 491 bps 474 bps 458 bps (95) bps (33) bps (16) bps 6.37% 0.65%
Leveraged Capital Markets Update
![Page 9: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/9.jpg)
9
Week ending October 11, 2013
HIGH YIELD SECONDARY MARKET OVERVIEW (Continued)
High Yield Industry Sector Levels
Year End Month End Friday Friday YTD MTD
12/31/2012 9/30/2013 10/4/2013 10/11/2013 ∆ YTD ∆ MTD ∆ Week Return Return
Basic Industry
Yield 6.54% 6.83% 6.74% 6.67% 0.14% (0.16%) (0.07%)
Spread (bps) 567 bps 561 bps 553 bps 546 bps (21) bps (15) bps (7) bps 4.78% 0.77%
Capital Goods
Yield 7.02% 5.66% 5.56% 5.48% (1.54%) (0.18%) (0.08%)
Spread (bps) 510 bps 467 bps 458 bps 449 bps (60) bps (18) bps (9) bps 5.12% 0.66%
Utility
Yield 6.76% 8.01% 7.93% 7.87% 1.10% (0.14%) (0.06%)
Spread (bps) 587 bps 615 bps 613 bps 609 bps 22 bps (6) bps (4) bps 0.79% 0.90%
Communications
Yield 5.74% 5.90% 5.76% 5.75% 0.00% (0.16%) (0.01%)
Spread (bps) 497 bps 446 bps 433 bps 432 bps (65) bps (14) bps (1) bps 3.60% 0.92%
Media Cable
Yield 4.64% 5.20% 5.13% 5.13% 0.49% (0.07%) 0.01%
Spread (bps) 378 bps 380 bps 370 bps 370 bps (9) bps (10) bps () bps 2.10% 0.89%
Media Non-Cable
Yield 7.22% 6.20% 6.10% 6.09% (1.13%) (0.11%) (0.01%)
Spread (bps) 655 bps 473 bps 467 bps 470 bps (186) bps (4) bps 3 bps 6.06% 0.70%
Telecommunications
Yield 5.18% 6.06% 5.84% 5.81% 0.63% (0.25%) (0.03%)
Spread (bps) 437 bps 461 bps 440 bps 436 bps (1) bps (26) bps (5) bps 2.47% 1.09%
Consumer Cyclical
Yield 6.24% 6.21% 6.13% 6.10% (0.15%) (0.12%) (0.03%)
Spread (bps) 561 bps 505 bps 497 bps 492 bps (69) bps (13) bps (4) bps 4.47% 0.38%
Gaming
Yield 7.62% 8.60% 8.43% 8.60% 0.98% 0.00% 0.18%
Spread (bps) 700 bps 755 bps 736 bps 753 bps 52 bps (2) bps 16 bps 4.08% -0.23%
Lodging
Yield 4.11% 5.36% 5.30% 5.27% 1.17% (0.08%) (0.03%)
Spread (bps) 322 bps 379 bps 375 bps 371 bps 49 bps (8) bps (5) bps 2.51% 0.60%
Real Estate
Yield 4.48% 5.38% 5.49% 5.24% 0.76% (0.14%) (0.24%)
Spread (bps) 395 bps 410 bps 428 bps 396 bps 1 bps (14) bps (32) bps 3.07% 0.56%
Retailers
Yield 6.32% 6.26% 6.30% 6.17% (0.15%) (0.09%) (0.13%)
Spread (bps) 556 bps 515 bps 521 bps 508 bps (49) bps (7) bps (13) bps 5.38% 0.18%
Consumer Non-Cyclical
Yield 5.95% 5.90% 5.74% 5.64% (0.31%) (0.26%) (0.10%)
Spread (bps) 530 bps 479 bps 464 bps 454 bps (76) bps (25) bps (10) bps 5.54% 0.94%
Health Care
Yield 5.88% 5.76% 5.57% 5.44% (0.44%) (0.32%) (0.14%)
Spread (bps) 516 bps 467 bps 454 bps 441 bps (75) bps (26) bps (13) bps 4.92% 1.11%
Energy
Yield 5.91% 6.42% 6.25% 6.20% 0.29% (0.22%) (0.05%)
Spread (bps) 524 bps 516 bps 505 bps 498 bps (25) bps (18) bps (7) bps 4.45% 1.06%
Technology
Yield 7.14% 6.68% 6.59% 6.55% (0.59%) (0.13%) (0.03%)
Spread (bps) 655 bps 558 bps 550 bps 547 bps (107) bps (11) bps (2) bps 6.90% 0.52%
Finance
Yield 5.49% 5.31% 5.22% 5.16% (0.33%) (0.15%) (0.06%)
Spread (bps) 450 bps 390 bps 378 bps 370 bps (80) bps (20) bps (8) bps 5.25% 0.77%
Transportation
Yield 7.59% 6.38% 6.34% 6.08% (1.51%) (0.30%) (0.25%)
Spread (bps) 703 bps 561 bps 556 bps 530 bps (173) bps (31) bps (26) bps 5.10% 0.73%
Leveraged Capital Markets Update
![Page 10: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/10.jpg)
10
Week ending October 11, 2013
BARCLAYS 2013 LEVERAGED LOAN DEALS
Barclays Recent Leveraged Loan Transactions Pricing Facility Total Institutional Libor
Date Borrower Industry Type Size Pricing OID Floor Sponsor Role
TBD MacDermid Inc Chemicals RCF/TLB $805 L + 300 100.00 1.00% Not Sponsored Left Lead Arranger / Joint Books
TBD Gentiva Health Services Healthcare RCF/TLB/TLC $925 L+ 450 99.50 1.25% Not Sponsored Left Lead Arranger / Joint Books
11-Oct Huntsman International Chemicals RCF/TLB $1,400 L+300 99.50 0.75% Not Sponsored Joint Lead Arranger / Joint Books
9-Oct Oberthur Technologies Tech TLB/Euro TLB $550 L + 475 99.00 1.00% Advent Joint Lead Arranger / Joint Books
9-Oct CityCenter Holdings Gaming RCF/TLB $1,800 L+ 400 99.00 1.00% Not Sponsored Joint Lead Arranger / Joint Books
2-Oct Aptalis Pharma Healthcare TLB $1,250 L + 500 99.00 1.00% Not Sponsored Joint Lead Arranger / Joint Books
1-Oct Acosta Sales & Marketing Services TLB $1,264 L+ 325 100.00 1.00% Thomas H Lee Partners Joint Lead Arranger / Joint Books
25-Sep ProPetro Services Nat Res RCF/TLB $260 L + 625 99.00 1.00% Not Sponsored Joint Lead Arranger / Joint Books
24-Sep Dell Tech ABL/TLB/TLC/Euro TLB $9,100 L + 275 99.50 1.00% Silver Lake, Dell, MDSC Joint Lead Arranger / Joint Books
24-Sep CPG International Industrial ABL/TLB $750 L + 375 99.50 1.00% Ares, Teachers Private Capital Left Lead Arranger / Joint Books
24-Sep Spotless Holdings Services TLB/2L $1,080 L + 400 99.50 1.00% Pacific Equity Partners Joint Lead Arranger / Joint Books
19-Sep Syniverse Tech TLB $912 L + 300 100.00 1.00% Carlyle Left Lead Arranger / Joint Books
18-Sep Jarden Consumer TLB $750 L + 275 99.00 0.00% Not Sponsored Left Lead Arranger / Joint Books
12-Sep Biomet Healthcare TLB $2,982 L + 350 99.75 0.00% Blackstone, GS, KKR, TPG Joint Lead Arranger / Joint Books
12-Sep Capsugel Healthcare TLB $906 L + 250 100.00 1.00% Not Sponsored Joint Lead Arranger / Joint Books
11-Sep Go Daddy Tech TLB (add-on) $100 L+ 325 100.00 1.00% KKR, Silver Lake Partners Left Lead Arranger / Joint Books
10-Sep Pinnacle Foods Consumer TLH $525 L+ 250 98.38 0.75% Blackstone Joint Lead Arranger / Joint Books
3-Sep Freescale Semiconductor Tech TLB-5 $800 L+ 375 99.00 1.25% Not Sponsored Joint Lead Arranger / Joint Books
21-Aug Fairmount Minerals Nat Res RC/TLB (Short)/TLB $1,285 L+ 400 99.50 1.00% American Securities Left Lead Arranger / Joint Books
20-Aug Cincinnati Bell Telecom RC/TLB $540 L+ 300 99.25 1.00% Not Sponsored Joint Lead Arranger / Joint Books
19-Aug DS Services Consumer RC/TLB $395 L+ 425 99.00 1.00% Crestview Partners Left Lead Arranger / Joint Books
16-Aug Crown Castle Operating Co Telecom TLB (add-on) $800 L+ 250 99.00 1.00% Not Sponsored Joint Lead Arranger / Joint Books
15-Aug Rexnord Industrials TLB $1,950 L + 300 99.00 1.00% Not Sponsored Joint Lead Arranger / Joint Books
14-Aug Bronco Midstream Funding LLCNat Res TLB $430 L + 400 99.00 1.00% ArcLight Capital Sole Arranger / Sole Books
14-Aug OCI Beaumont Chemicals TLB $360 L + 500 98.50 1.25% Not Sponsored Joint Lead Arranger / Joint Books
9-Aug CrossMark Services TLB $100 L+ 350 99.50 1.00% Warburg Pincus Joint Lead Arranger / Joint Books
9-Aug BMC Software Tech RCF/TLB/Euro TLB $4,655 L+400 99.00 1.00% Bain, Golden Gate, GIC, Insight Joint Lead Arranger / Joint Books
9-Aug WS Packaging Industrials TLB $276 L+ 400 99.50 1.00% JW Childs Joint Lead Arranger / Joint Books
8-Aug Multi Packaging Solutions Industrial RCF/TLB $330 L+ 325 99.50 1.00% Madison Dearborn Left Lead Arranger / Joint Books
8-Aug US Renal Care Healthcare TLB/2L $495 L+ 425 100.00 1.00% Not Sponsored Left Lead Arranger / Joint Books
5-Aug Pinnacle Entertainment Gaming RC/TLB (Short)/TLB $2,600 L + 275 100.00 1.00% Not Sponsored Joint Lead Arranger / Joint Books
2-Aug Nuance Communications Tech TLB $483 L + 275 99.75 - Not Sponsored Joint Lead Arranger / Joint Books
2-Aug Van Wagner CommunicationsMedia TLB $228 L + 500 100.00 1.25% Not Sponsored Sole Arranger / Sole Books
1-Aug Eastman Kodak Tech EXIT TLB/ 2L/RCF $895 L + 625 98.00 1.00% Not Sponsored Joint Lead Arranger / Joint Books
1-Aug Larchmont Resources Nat Res TLB $275 L + 725 99.00 1.00% EIG Global Energy Partners Left Lead Arranger / Joint Books
31-Jul American Airlines Industrial TLB (add-on) $850 L + 375 99.50 1.00% Not Sponsored Joint Lead Arranger / Joint Books
31-Jul Great Wolf Resorts Entertainment RC/TLB $320 L + 350 99.50 1.00% Apollo Joint Lead Arranger / Joint Books
29-Jul CDW Tech TLB (add-on) $190 L+ 250 99.25 1.00% Not Sponsored Joint Lead Arranger / Joint Books
25-Jul Springer Science & Business MediaEducation RCF/TLB/Euro TLB $2,489 L+400 96.50 1.00% BC Partners Joint Lead Arranger / Joint Books
23-Jul MultiPlan Healthcare TLB (Add-on) $100 L+ 300 100.00 1.00% BC Partners, Silver Lake Partners Left Lead Arranger / Joint Books
23-Jul Gardner Denver Industrial TLB/Euro TLB $2,825 L+325 99.50 1.00% KKR Joint Lead Arranger / Joint Books
18-Jul Lions Gate Entertainment Financial Services 2L $200 L + 400 100.00 1.00% Not Sponsored Joint Lead Arranger / Joint Books
17-Jul Walter Investment ManagementFinancial Services TLB (add-on) $250 L + 450 100.00 1.25% Not Sponsored Joint Lead Arranger / Joint Books
3-Jul Ikaria Healthcare TLB/2L $850 L + 600 98.50 1.25% New Mountain, ARCH, Venrock Joint Lead Arranger / Joint Books
3-Jul Boulder Brands Consumer TLB $245 L + 400 99.00 1.00% Not Sponsored Joint Lead Arranger / Joint Books
2-Jul Ocean Rig Nat Res TLB(short)/TLB $1,800 L + 450 99.00 1.00% Not Sponsored Joint Lead Arranger / Joint Books
28-Jun Oceania Cruises Entertainment RC/TLB $375 L + 575 99.00 1.00% Apollo Joint Lead Arranger / Joint Books
27-Jun CHG Healthcare Healthcare TLB(add-on)/2L(add-on) $150 L + 375 99.50 1.25% Leonard Green, Ares Joint Lead Arranger / Joint Books
27-Jun Valeant Pharmaceuticals Healthcare RC/TLB $4,050 L + 375 98.50 0.75% Not Sponsored Joint Lead Arranger / Joint Books
27-Jun TransDigm Industrial TLB (add-on) $900 L+ 300 98.00 0.75% Not Sponsored Joint Lead Arranger / Joint Books
21-Jun AMR Corp Industrial RC/TLB $2,050 L+ 375 99.50 1.00% Not Sponsored Joint Lead Arranger / Joint Books
19-Jun State Class Tankers Nat Res TLB $365 L+ 550 99.50 1.25% Blackstone Joint Lead Arranger / Joint Books
14-Jun CTI Foods Consumer RC/TLB/2L $485 L + 350 99.50 1.00% TH Lee, GS Merchant Joint Lead Arranger / Joint Books
10-Jun Sedgwick Services RC/TLB/2L $1,195 L + 325 100.00 1.00% Stone Point, H&F Joint Lead Arranger / Joint Books
7-Jun InterGen Power RC/TLB $800 L+450 97.00 1.00% OTPP, China Huaneng Group Joint Lead Arranger / Joint Books
7-Jun Jazz Pharmaceuticals Healthcare RC/TLB $757 L+ 275 100.00 0.75% Not Sponsored Left Lead Arranger / Joint Books
29-May NRG Energy Power TLB $2,022 L + 200 100.00 0.75% Not Sponsored Joint Lead Arranger / Joint Books
24-May Infor Tech TLB $893 L + 275 100.00 1.00% Golden Gate Joint Lead Arranger / Joint Books
24-May Crestwood Holdings Nat Res TLB $385 L + 600 99.50 1.00% Not Sponsored Joint Lead Arranger / Joint Books
24-May Air Medical Healthcare Unsec TLB $200 7.625% 99.00 - Bain Left Lead Arranger / Joint Books
24-May Waddington Group Industrial RC/TLB/C$TLB/2L $650 L + 325 99.50 1.25% Olympus Left Lead Arranger / Joint Books
23-May Brickman Group Services TLB(short)/TLB $538 L + 300 100.00 - Leonard Green Sole Arranger / Sole Books
23-May Univision Communications Media TLB $1,250 L + 300 100.00 1.00% Not Sponsored Joint Lead Arranger / Joint Books
22-May Pact Group Industrial RC/TLB $985 L + 275 99.50 1.00% Not Sponsored Joint Lead Arranger / Joint Books
21-May JC Penney Retail TLB $2,250 L + 500 99.50 1.00% Not Sponsored Joint Lead Arranger / Joint Books
21-May EquiPower Resources Power TLB (add-on) $1,940 L + 325 100.00 1.00% Energy Capital Left Lead Arranger / Joint Books
Leveraged Capital Markets Update
![Page 11: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/11.jpg)
11
Week ending October 11, 2013
BARCLAYS RECENT 2013 HIGH YIELD DEALS
Barclays Recent High Yield Transactions
___________________________ Role Key: SB = Sole Bookrunner, QB = Quarterback, AB = Active Bookrunner, JB = Joint Bookrunner, Co = Co-Manager.
Date Issuer Proceeds Coupon Structure Security UOP Industry Role1/0 0 (USD $mm) 0.000% 0 0 0 0
10/8 Oberthur Technologies $258.0 9.250% 6.5 NC3 Senior Notes (EUR) Bank Refi Technology JB
10/7 Memorial Production $291.0 7.625% 7.5 NC3.5 Senior Notes Industial Nat Res JB
9/26 MEG Energy Corp $800.0 7.000% 10.5 NC5 Senior Notes GCP Nat Res QB
9/26 Gannett Co $644.1 6.375% 10 NC5 Senior Notes Corp M&A Media JB
9/26 Gannett Co $592.3 5.125% 6 NC3 Senior Notes Corp M&A Media JB
9/26 Avanti Communications $370.0 10.000% 6 NC5 Senior Sec Notes Refi Telecom JB
9/24 The ADT Corp $1,000.0 6.250% 8 NCL Senior Notes Repurch Stock Consumer Co
9/24 General Motors $1,500.0 6.250% 30 NCL Senior Notes GCP Industrial Co
9/24 General Motors $1,500.0 4.875% 10 NCL Senior Notes GCP Industrial Co
9/24 General Motors $1,500.0 3.500% 5 NCL Senior Notes GCP Industrial Co
9/24 CPG International $315.0 8.000% 8 NC3 Senior Notes LBO Industrial JB
9/23 Whiting Petroleum Corp $404.0 5.750% 7.5 NCL Senior Notes (Add-On) GCP Nat Res Co
9/23 Energy XXI Gulf Coast $500.0 7.500% 8 NC3 Senior Notes Bank Refi Nat Res JB
9/23 Dell $1,500.0 5.625% 7 NC3 Senior Sec Notes (1st Lien) LBO Technology JB
9/20 Hilton Worldwide $1,500.0 5.625% 8 NC3 Senior Notes Refi Gaming/Leisure Co
9/19 Walter Energy $447.4 9.500% 6 NC3 Senior Sec Notes Bank Refi Nat Res JB
9/19 Sirius XM Radio $650.0 5.875% 7 NC3 Senior Notes Bond Refi Media JB
9/19 GEO Group $250.0 5.875% 8.3 NC4 Senior Notes Bond Refi Real Estate JB
9/17 Nexstar Broadcasting $275.7 6.875% 7 NC2 Senior Notes (add-on) GCP Media JB
9/13 Tenet Healthcare Corp $2,800.0 8.125% 8.5 NCL Senior Notes Corp M&A Healthcare JB
9/13 Tenet Healthcare Corp $1,800.0 6.000% 7 NCL Senior Sec Notes Corp M&A Healthcare JB
9/12 Commerzbank AG $1,000.0 8.125% 10 NCL Senior Sub Notes GCP Financial JB
9/10 NXP $500.0 3.500% 3 NCL Senior Notes Bond Refi Technology QB
9/9 Whiting Petroleum $1,100.0 5.000% 5.5 NCL Senior Notes Refi Nat Res Co
9/9 Whiting Petroleum $800.0 5.750% 7.5 NCL Senior Notes Refi Nat Res Co
8/16 Foresight Energy $595.7 7.875% 8 NC3 Senior Notes Dividend Nat Res JB
8/14 DS Services $340.7 10.000% 8 NC4 Senior Sec Notes (2nd Lien) LBO Consumer JB
8/14 NuStar Logisitics $300.0 6.750% 7.5 NCL Senior Notes GCP Nat Res Co
8/14 Access Midstream Partners $406.0 5.875% 7.75 NC1.75 Senior Notes GCP Nat Res QB
8/8 Iron Mountain $600.0 6.000% 10 NC5 Senior Notes Bond Refi Consumer Co
8/8 Iron Mountain $193.6 6.125% 8 NC4 Senior Notes (CAD) Bond Refi Consumer JB
8/8 Halcon Resources $400.0 9.250% 8.5 NC4 Senior Notes Bank Refi Nat Res JB
8/8 Multi Packaging Solutions $200.0 8.500% 8 NC3 Senior Notes LBO Industrial JB
8/7 BMC Software $1,625.0 8.125% 8 NC3 Senior Notes LBO Technology JB
8/6 PHH Corporation $350.0 6.375% 8 NC4 Senior Notes Bond Refi Financial JB
8/2 Intralot Finance $427.6 9.750% 5 NC3 Senior Notes (EUR) Bond Refi Gaming/Leisure JB
8/1 Healthcare Technology Intermediate $750.0 7.375% 5 NC1 Senior PIK Toggle Notes Dividend Healthcare JB
7/30 National Amusements $300.0 5.000% 5 NC2 Senior Sec Notes Bond Refi Media QB
7/30 Pinnacle Entertainment $850.0 6.375% 8 NC3 Senior Notes Corp M&A Gaming/Leisure JB
7/30 Dana Holding Corp $450.0 5.375% 8 NC3 Senior Notes Repurch Stock Industrial JB
7/30 Dana Holding Corp $300.0 6.000% 10 NC5 Senior Notes Repurch Stock Industrial JB
7/29 Sirius XM Radio $600.0 5.750% 8 NC3 Senior Notes Bond Refi Media Co
7/29 Party City $297.0 8.750% 6 NC1.5 Senior PIK Toggle Notes Dividend Retail JB
7/29 Tesoro Logisitcs LP $550.0 6.125% 8 NC3 Senior Notes Bank Refi Nat Res Co
7/25 CIT Group Holdings $742.7 5.000% 10 NCL Senior Notes GCP Financial JB
7/25 Parker Drilling $225.0 7.500% 7 NC3 Senior Notes Refi Nat Res Co
7/24 Gannett Co $591.4 5.125% 7 NC3 Senior Notes Refi Media JB
7/24 Michaels Stores $800.0 7.500% 5 NC1 Senior PIK Toggle Notes Dividend Retail JB
7/24 Travelex $230.4 6.509% 5 NC1 Senior Sec FRN (GBP) Bank Refi Financial JB
7/24 Travelex $307.2 8.000% 5 NC2 Senior Sec Notes (GBP) Bank Refi Financial JB
7/22 Gardner Denver $575.0 6.875% 8 NC3 Senior Notes LBO Industrial JB
7/22 Multiplan $750.0 8.375% 5 NC1 Senior PIK Toggle Notes Dividend Healthcare QB
7/18 Chemtura $450.0 5.750% 8 NC4 Senior Notes Bond Refi Chemicals JB
7/17 Nationstar Mortgage LLC $250.0 6.500% 5 NC2 Senior Notes GCP Financial JB
7/16 NOVA Chemicals Corporation $500.0 5.250% 10 NC5 Senior Notes Bond Refi Chemicals QB
7/15 Ally Financial $1,000.0 3.500% 3 NCL Senior Notes Bond Refi Financial QB
7/15 Ally Financial $375.0 L+268 bps 3 NCL Senior FRN Bond Refi Financial QB
7/15 Magnachip Semiconductor $223.9 6.625% 8 NC4 Senior Notes Bond Refi Technology QB
7/11 Best Buy Co $500.0 5.000% 5 NCL Senior Notes GCP Retail AB
7/11 Post Holidngs $370.1 7.375% 8.5 NC3.5 Senior Notes GCP Consumer JB
Leveraged Capital Markets Update
![Page 12: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/12.jpg)
12
Week ending October 11, 2013
YTD HIGH YIELD DEALS
YTD High Yield Transactions Date Issuer Proceeds Coupon Security Ratings Structure Price Yield Price Talk UOP Industry Underwriters1/0 0 (USD $mm) 0.000% 0 / 0.000% 0.000% 0.000% 0 0 01/3 Country Garden $750.0 7.500% Senior Notes Ba3 / BB- 10 NC5 100.000% 7.500% 7.500% Refi Real Estate gs/jpm (active), boci/icbc (passive)1/3 Crown Americas $800.0 4.500% Senior Notes Ba2 / BB 10 NCL 100.000% 4.500% 4.500% Bank Refi Industrial db/bnpp/baml/citi/wfs (books)1/3 Kaisa Group $500.0 10.250% Senior Notes B1 / B+ 7 NC4 100.000% 10.250% 10.250% Refi Real Estate citi/cs/jpm/ubs (books)1/7 MarkWest Energy Partners $1,000.0 4.500% Senior Notes Ba3 / BB 10.5 NCL 100.000% 4.500% 4.5-4.625% Bond Refi Nat Res barc/baml/citi/gs/jpm/ms/nat/rbc/strh/ubs/usb/wfs (books)1/7 Shimao Property Holdings $800.0 6.625% Senior Notes B1 / B+ 7 NC4 100.000% 6.625% 6.750% Refi Real Estate hsbc/stch/ubs/gs/jpm (books)1/8 Speedway Motorsports $105.0 6.750% Senior Notes (add-on) Ba2 / BB- 6 NC2 105.000% 5.361% 104.5-105 px Bank Refi Gaming/Leisure baml/jpm/strh/wfs (books)1/8 Windstream Corp $700.0 6.375% Senior Notes Ba3 / B 10.5 NC5 100.000% 6.375% 6.500% Bond Refi Telecom wfs/barc/baml/db/gs/mus/strh (books)1/9 Bombardier $1,250.0 6.125% Senior Notes Ba2 / BB 10 NCL 100.000% 6.125% 6-6.25% GCP Industrial jpm (sole)1/9 Bombardier $750.0 4.250% Senior Notes Ba2 / BB 3 NCL 100.000% 4.250% 4.500% GCP Industrial jpm (sole)1/9 Crown Americas $200.0 4.500% Senior Notes (add-on) Ba2 / BB 10 NCL 100.000% 4.500% 0.000% Bank Refi Industrial db (sole)1/9 Estate Sky Limited (CSI Properties) $650.0 6.500% Senior Notes NR / NR 5 NCL 100.000% 6.500% 6.500% GCP Real Estate jpm/baml (books)1/9 Halcon Resources $630.0 8.875% Senior Notes (add-on) B3 / CCC+ 8.33 NC3.8 105.000% 7.875% 105.5 px Bank Refi Nat Res wfs/rbc/jpm/barc/gs (books)1/9 HD SUPPLY $950.0 10.500% Senior Sub Notes Caa2 / CCC+ 8 NC3 100.000% 10.500% 10.750% Bond Refi Industrial baml/gs/barc/jpm/cs/db/wfs/ubs (books)1/9 Hopson Development $300.0 9.875% Senior Notes Caa1 / CCC+ 5 NC3 100.000% 9.875% 10.000% Refi Real Estate ubs/icbc (books)
1/10 Atalian $331.3 7.250% Senior Notes (EUR) B3 / B 7 NC4 100.000% 7.250% 7.25-7.5% Refi Industrial cs (active), ca/sg (passive)1/10 Fresenius Finance $662.7 2.875% Senior Notes (EUR) Ba1 / BB+ 7.5 NCL 100.000% 2.875% 3-3.25% Refi Healthcare db (active), jpm/sg/cs/uni (passive)1/10 Kodiak Oil & Gas $350.0 5.500% Senior Notes B3 / B- 8 NC4 100.000% 5.500% 5.5-5.75% Bank Refi Nat Res wfs/bmo/key/rbc/scotia/cs (books)1/10 Rockies Express Pipeline $525.0 6.000% Senior Notes Ba2 / BB 6 NCL 100.000% 6.000% 6-6.25% Bond Refi Nat Res baml/barc/cs (books)1/11 NeuStar $300.0 4.500% Senior Notes Ba3 / BB- 10 NC5 100.000% 4.500% 4.500% Bank Refi Telecom jpm/ms/rbc (books)1/11 US Foods $388.1 8.500% Senior Notes (add-on) Caa2 / CCC+ 6.5 NC1.5 103.500% 7.558% 103.25-103.5 px Bond Refi Retail db/ms/kkr (books)1/14 Aviation Capital $300.0 4.625% Senior Notes NR / BB+ 5 NCL 100.000% 4.625% 4.750% GCP Industrial ca-cib/db/jpm/rbc/wfs (books)1/14 Lear Corp $500.0 4.750% Senior Notes Ba2 / BB 10 NC5 100.000% 4.750% 4.75-5.0% Bond Refi Industrial citi/barc/jpm/rbc/ubs (books)1/14 Regal Entertainment $250.0 5.750% Senior Notes B3 / B- 12 NC5 100.000% 5.750% 5.750% GCP Gaming/Leisure cs/baml/barc/db/wfs (books)1/15 Cerved Technologies $332.2 E+537.5 bps Senior Secured FRN (EUR) B2 / B 6 NC1 100.000%E+537.5 bps E+550 bps LBO Financial cs/db/hsbc/bnpp/uni/imi/ca (books)1/15 Cerved Technologies $398.6 6.375% Senior Sec Notes (EUR) B2 / B 7 NC3 100.000% 6.375% 6.500% LBO Financial cs/db/hsbc/bnpp/uni/imi/ca (books)1/15 Cerved Technologies $305.6 8.000% Senior Sub Notes (EUR) B3 / CCC+ 8 NC4 100.000% 8.000% 8.0-8.25% LBO Financial cs/db/hsbc/bnpp/uni/imi/ca (books)1/15 Fantasia Holdings Group $250.0 10.750% Senior Notes B2 / B+ 7 NC4 100.000% 10.750% 0.000% Refi Real Estate baml/citi (books)1/15 Interface Security Systems $230.0 9.250% Senior Sec Notes B3 / B- 5 NC2.5 100.000% 9.250% 9.25-9.50% Refi Technology imp (sole)1/15 Wells Enterprises $235.0 6.750% Senior Sec Notes B2 / B+ 7 NC3 100.000% 6.750% 6.75-7.0% Refi Consumer bmo/wfs (books)1/16 Ardagh Packaging $850.0 7.000% Senior Notes B3 / CCC+ 6.75 NC3.75 100.000% 7.000% 7.000% Corp M&A Industrial citi (sole)1/16 Ardagh Packaging $420.0 4.875% Senior Sec Notes (1st Lien) Ba3 / B+ 9.75 NC4.75 100.000% 4.875% 4.875% Corp M&A Industrial citi (sole)1/16 Ardagh Packaging $332.7 5.000% Senior Sec Notes (1st Lien) (EUR)Ba3 / B+ 9.75 NC4.75 100.000% 5.000% 5.000% Corp M&A Industrial citi (sole)1/16 Atlas Resource $275.0 7.750% Senior Notes Caa1 / B- 8 NC4 100.000% 7.750% 7.50-7.75% Bank Refi Nat Res jpm/citi/wfs/db/baml (books)1/16 Brocade Communications $300.0 4.625% Senior Notes B1 / BB+ 10 NC5 100.000% 4.625% 4.750% Bond Refi Telecom ms/jpm (books)1/16 Dupont Performance Coatings $332.7 5.750% Senior Sec Notes (EUR) B1 / B+ 8 NC3 100.000% 5.750% 5.750% LBO Chemicals cs/db/citi/barc/ubs/ms/jeff/smbc (books)1/16 Dupont Performance Coatings $750.0 7.375% Senior Notes Caa1 / B- 8.25 NC3 100.000% 7.375% 7.375% LBO Chemicals cs/db/citi/barc/ubs/ms/jeff/smbc (books)1/16 Guangzhou R&F Properties (Caifu Holdings) $400.0 8.750% Senior Notes NR / NR 7 NC4 100.000% 8.750% 0.000% Refi Real Estate citi/db/gs/hsbc/ms/ubs (books)1/16 Hexion U.S. Finance (Momentive) $1,108.3 6.625% Senior Sec Notes (1st Lien) (add-on)NR / NR 7.25 NC2.25 100.750% 6.450% 100.5-101.5 px Refi Chemicals jpm/citi/db/gs/ubs/baml/cs/ms (books)1/16 New World Resources $366.0 7.875% Senior Notes (EUR) B3 / B 8 NC4 100.000% 7.875% 7.875% Bond Refi Nat Res citi/ms (active), gs/erste (passive)1/16 Oxford Finance $200.0 7.250% Senior Notes B1 / B 5 NC2 100.000% 7.250% 7.25-7.50% Refi Financial jpm (sole)1/16 TPC Group $101.0 8.750% Senior Sec Notes (add-on) B3 / B 8 NC4 101.000% 8.528% 101 px GCP Chemicals baml/jeff/ms (books)1/16 Unitymedia $665.4 5.125% Senior Sec Notes (EUR) NR / BB- 10 NC5 100.000% 5.125% 5-5.25% Bond Refi Telecom db/barc/bnpp/citi/gs/ing/ms/ubs (books)1/16 Voyage Care $355.2 6.500% Senior Sec Notes (GBP) B2 / B+ 5 NC2 100.000% 6.500% 6.750% Bank Refi Healthcare jpm/gs/rbs/commerz/lloyds (books)1/16 Voyage Care $78.8 11.000% Senior Sec Notes (2nd Lien) (GBP)Caa1 / CCC+ 6 NC3 98.500% 11.350% 11.000% Bank Refi Healthcare gs/jpm (books)1/17 Clearwater Paper $275.0 4.500% Senior Notes Ba2 / BB 10 NC5 100.000% 4.500% 4.500% Bond Refi Industrial gs/baml (books)1/17 Georgia Gulf $450.0 4.875% Senior Notes Ba3 / BB 10 NC5 100.000% 4.875% 5-5.125% Bond Refi Chemicals barc/jpm/rbc/wfs (books)1/17 Georgia Gulf (Eagle Spinco) $688.0 4.625% Senior Notes Ba3 / BB 8 NC5 100.000% 4.625% 4.750% Corp M&A Chemicals barc/jpm/rbc/wfs (books)1/17 Loxam $398.7 7.375% Senior Sub Notes (EUR) NR / B 7 NC3 100.000% 7.375% 7.500% Refi Industrial db/bnpp/ca/cs/sg (books)1/17 SunCoke Energy Partners $150.0 7.375% Senior Notes B1 / BB- 7 NC3 100.000% 7.375% 7.500% Bank Refi Nat Res jpm/barc/rbc (books)1/18 Cerba European Labs $488.3 7.000% Senior Sec Notes (EUR) B2 / B+ 7 NC3 100.000% 7.000% 7-7.25% Refi Healthcare gs/jpm (books)1/18 GenCorp $460.0 7.125% Senior Sec Notes (2nd Lien) Ba3 / B- 8 NC3 100.000% 7.125% 7.250% Corp M&A Technology ms/citi/wfs (books)1/18 Gibraltar Industries $210.0 6.250% Senior Sub Notes B2 / BB- 8 NC4 100.000% 6.250% 6.25-6.375% Bond Refi Industrial jpm/key (books)1/18 Powerlong Real Estate $246.5 11.250% Senior Notes Caa1 / B- 5 NC3 98.608% 11.625% 11.625-11.75% GCP Real Estate db/hsbc/rbs/baml (books)1/18 Southern Pacific Resources $261.8 8.750% Senior Sec Notes (2nd Lien) (CAD)NR / B+ 5 NC2 100.000% 8.750% 8.500% Bank Refi Nat Res td/rbc/cs (books)1/18 Zachary Holdings $250.0 7.500% Senior Notes B2 / B+ 7 NC4 100.000% 7.500% 7.5-7.75% Bank Refi Industrial jpm/baml/wfs (books)1/21 Central China Real Estate $200.0 8.000% Senior Notes B1 / B+ 7 NC4 100.000% 8.000% 8.125% Refi Real Estate jpm/ms/ubs/hsbc (books)1/21 China Aoyuan $106.7 13.879% Senior Notes (add-on) B3 / B+ 5 NC3 106.688% 12.000% 0.000% GCP Real Estate citi/ubs/baml (books)1/21 China SCE $162.0 11.500% Senior Notes (add-on) B2 / B 5 NC3 108.000% 9.381% 108 px GCP Real Estate db/hsbc/icbc (books)1/22 Arrow Global $348.9 7.875% Senior Sec Notes (GBP) B2 / BB- 7 NC3 100.000% 7.875% 7.875% Bank Refi Financial gs/jpm (books)1/22 Denbury Resources $1,200.0 4.625% Senior Sub Notes B1 / BB 10.5 NC5 100.000% 4.625% 4.625-4.875% Bond Refi Nat Res baml/jpm/cs/wfs/ca/rbc (books)1/22 Hengdeli $350.0 6.250% Senior Notes Ba1 / NR 5 NC3 100.000% 6.250% 6.250% Refi Retail db/stch/jpm/hsbc (books)1/22 Longfor Properties $500.0 6.750% Senior Notes Ba3 / BB 10 NC5 100.000% 6.750% 7.000% Refi Real Estate citi/hsbc/ms/stch (books)1/22 Tenet Healthcare $850.0 4.500% Senior Sec Notes B1 / B+ 8.25 NCL 100.000% 4.500% 4.5-4.75% Bond Refi Healthcare baml/barc/citi/wfs (books)1/23 Fosun Intl $400.0 6.875% Senior Notes B1 / BB+ 7 NC4 100.000% 6.875% 6.875% Refi Financial hsbc/stch/ubs (books)1/23 Jaguar Land Rover $500.0 5.625% Senior Notes Ba3 / BB- 10 NC5 100.000% 5.625% 5.625-5.875% GCP Industrial baml/db/ms (active), hsbc/lloyds (passive)1/23 Odigeo $432.4 7.500% Senior Sec Notes (EUR) B3 / B 5.5 NC2 100.000% 7.500% 7.5-7.75% Refi Technology cs/gs/lloyds/sg/ubs (books)1/23 Smurfit Kappa $532.1 4.125% Senior Sec Notes (EUR) Ba2 / BB 7 NCL 100.000% 4.125% 4.125% Bank Refi Industrial db/citi/ca/cs/jpm/rbs (books)1/24 Coeur d'Alene Mines Corp $300.0 7.875% Senior Notes B3 / BB- 8 NC4 100.000% 7.875% 8.000% GCP Nat Res barc (sole)1/24 Trinseo Materials $1,325.0 8.750% Senior Sec Notes B1 / B+ 6 NC2.5 100.000% 8.750% 8.75-9% Bank Refi Chemicals db/barc/hsbc/gs/scotia/bmo/miz/smbc (books)1/24 Zobele Holding $240.6 7.875% Senior Sec Notes (EUR) B2 / B 5 NC2 100.000% 7.875% 8.000% Refi Consumer gsi/uni (books)1/25 Abengoa Finance $336.6 8.875% Senior Notes (EUR) NR / NR 5 NCL 100.000% 8.875% 8.875-9% Bank Refi Industrial hsbc/cs/baml/bankia/sant/sg (books)1/25 Apex Tool Group $450.0 7.000% Senior Notes B3 / B- 8 NC3 100.000% 7.000% 7-7.25% LBO Industrial gs/barc/citi/db/ms/rbc (books)1/25 DigitalGlobe $600.0 5.250% Senior Notes B1 / BB 8 NC4 100.000% 5.250% 5.375% Corp M&A Telecom ms/jpm/mus/citi (books)1/25 Ence Energia y Celulosa $336.6 7.250% Senior Sec Notes (EUR) B1 / BB 7 NC3 100.000% 7.250% 7.250% Bank Refi Industrial db/bbva/banesto/bankia/barc/citi (books)1/25 Mingfa Group $100.0 13.250% Senior Notes NR / B- 5 NC3 100.000% 13.250% 13.250% Refi Real Estate cs/citi/icbc/rbs/ms (books)1/25 WEX $350.0 4.750% Senior Notes Ba3 / BB 10 NC5 100.000% 4.750% 4.75-5% Bank Refi Financial wfs/baml/strh/rbs (books)1/28 Atlas Pipeline $650.0 5.875% Senior Notes B2 / B+ 10.5 NC5 100.000% 5.875% 5.875% Refi Nat Res baml/wfs/db/citi/jpm (books)1/28 Greentown China $400.0 8.500% Senior Notes Caa1 / B- 5 NC3 100.000% 8.500% 8.500% Refi Real Estate db/boci/gs/hsbc/icbc/stch/ubs (books)1/28 Weekley Homes $200.0 6.000% Senior Notes B2 / BB- 10 NC4 100.000% 6.000% 6-6.25% Bank Refi Real Estate cs/baml/wfs (books)1/29 Air Lease $400.0 4.750% Senior Notes NR / NR 7 NCL 100.000% 4.750% 4.625-4.75% GCP Industrial baml/db/jpm/bmo/citi/cs/rbc/rbs/wfs (books)1/29 Beazer Homes $200.0 7.250% Senior Notes Caa2 / CCC 10 NC5 100.000% 7.250% 7.250% Bond Refi Real Estate cs (sole)1/29 Chiquita Brands $421.9 7.875% Senior Sec Notes B1 / B 8 NC3 99.274% 8.000% 8.000% Refi Consumer baml/wfs/gs/barc (books)1/29 Cirsa Funding $134.4 8.750% Senior Notes (add-on) (EUR) B3 / B+ 5.25 NC1.5 99.750% 8.805% 99.75-100.25 px Refi Gaming/Leisure db (sole)1/29 HD SUPPLY $1,275.0 7.500% Senior Notes Caa1 / CCC+ 7.5 NC3.75 100.000% 7.500% 7.375% Bond Refi Industrial baml/gs/barc/jpm/cs/db/wfs/ubs (books)1/29 KWG Property $300.0 8.625% Senior Sec Notes B1 / B+ 7 NC4 100.000% 8.625% 9.250% Refi Real Estate citi/gs/hsbc/stch/ubs (books)1/29 Melco Crown Entertainment $1,000.0 5.000% Senior Notes Ba3 / BB- 8 NC3 100.000% 5.000% 5.000% Bond Refi Gaming/Leisure db/anz/baml/citi (books)1/29 Netflix $500.0 5.375% Senior Notes Ba3 / BB- 8 NCL 100.000% 5.375% 5.375% Bond Refi Technology ms/jpm (books)1/29 Orion Engineered Carbons $420.8 9.250% Senior PIK Toggle Notes Caa1 / CCC+ 6.5 NC1 99.000% 9.459% 9.5-9.75% Dividend Chemicals gs (active), barc/jpm/ubs (passive)1/29 Sabin Pass Liquefaction $1,500.0 5.625% Senior Sec Notes Ba3 / BB+ 8 NCL 100.000% 5.625% 5.625% GCP Nat Res ms/cs/rbc/db/sg/stch/hsbc/jpm/mus/ca (books)1/30 Antero Resources $231.8 6.000% Senior Notes (add-on) B2 / B+ 8 NC3 103.000% 5.391% 103-103.5 px Bank Refi Nat Res jpm/wfs/barc/citi/mus (books)1/30 Bite $268.7 E+750 bps Senior Secured FRN (EUR) B3 / B 5 NC2 99.000% E+750 bps 0.000% GCP Telecom db/cs (books)1/30 DR Horton $400.0 4.750% Senior Notes Ba2 / BB- 10 NCL 100.000% 4.750% 4.5-4.75% GCP Real Estate jpm/citi/db/rbs/ubs/wfs (books)1/30 DR Horton $300.0 3.625% Senior Notes Ba2 / BB- 5 NCL 100.000% 3.625% 3.5-3.625% GCP Real Estate jpm/citi/db/rbs/ubs/wfs (books)1/30 First Data $785.0 11.250% Senior Notes Caa1 / B- 8 NC3 100.000% 11.250% 11.250% Bond Refi Technology citi/db/hsbc/wfs/baml/cs (books)1/30 Guangzhou R&F $201.0 8.750% Senior Notes (add-on) NR / NR 7 NC4 100.500% 8.640% 0.000% Refi Real Estate citi/db/gs/hsbc/ms/ubs (books)1/30 H&E Equipment $108.5 7.000% Senior Notes (add-on) B3 / B+ 9.75 NC4.75 108.500% 5.551% 108-108.5 px Bank Refi Industrial db (sole)1/30 Kelda Finance $315.5 5.750% Senior Notes (GBP) NR / BB- 7 NCL 100.000% 5.750% 5.625-5.875% GCP Industrial barc/rbs (active), cba/hsbc/lloyds/sant (passive)1/30 Lennar $171.6 4.750% Senior Notes (add-on) Ba3 / BB- 10 NCL 98.073% 5.000% 5.000% GCP Real Estate citi/baml/bmo/db/jpm/ubs (books)1/30 Lennar $275.0 4.125% Senior Notes Ba3 / BB- 6 NCL 99.998% 4.125% 4.125% GCP Real Estate citi/baml/bmo/db/jpm/ubs (books)1/30 MIE Holdings $200.0 6.875% Senior Notes B+ / B 5 NC3 100.000% 6.875% 6.75-6.875% Bank Refi Nat Res baml/db/hsbc/gs/ms (books)1/30 OTE PLC $945.2 7.875% Senior Notes (EUR) Caa1 / B- 5 NCL 99.493% 8.000% 8.000% GCP Financial bnpp/db/hsbc (books)1/31 Global A&T Electronics $625.0 10.000% Senior Sec Notes B1 / B 6 NC3 100.000% 10.000% 10.000% Bank Refi Technology baml/sc/jpm/ubs (books)1/31 Lowell Group $129.3 10.750% Senior Sec Notes (add-on) B1 / BB 6.25 NC2.25 109.750% 8.429% 0.000% Bank Refi Financial jpm/lloyds (bboks)1/31 Nara Cable (ONO) $349.3 8.500% Senior Sec Notes B1 / B+ 7 NC3 98.690% 8.750% 8.750% Bank Refi Media db/bbva/ing/bankia/bnpp/baml/ca/jpm/sant/sg (books)1/31 NXP $500.0 5.750% Senior Notes B3 / B 8 NC4 100.000% 5.750% 5.750% Bank Refi Technology ms/barc/cs/kkr (books)1/31 Securitas Direct (Verisure) $137.5 E+650 bps Senior Secured FRN (add-on) (EUR)B2 / B 5.5 NC1.5 101.000% E+650 bps 101 px Bank Refi Consumer ms/gs/nomura (books)1/31 Unifrax $205.0 7.500% Senior Notes Caa1 / B- 6 NC2 100.000% 7.500% 7.5-7.75% Bank Refi Industrial gs/wfs/key (books)2/1 Ashton Woods $297.7 6.875% Senior Notes Caa1 / B- 8 NC4 99.239% 7.000% 7-7.25% Refi Real Estate jpm/wfs (books)2/1 Infinis $549.6 7.000% Senior Notes (GBP) Ba3 / B+ 6 NC3 100.000% 7.000% 7.000% Bond Refi Power db/cs (books)2/1 Nord Anglia $147.0 8.500% Senior PIK Toggle Notes Caa2 / CCC+ 5 NC2.5 98.000% 9.000% 9.010% Bank Refi Industrial gs (sole)2/1 Norwegian Cruise Line $298.4 5.000% Senior Notes B3 / BB- 5 NC2 99.451% 5.125% 5.250% Bond Refi Gaming/Leisure db/barc/jpm (books)2/1 Permian Holdings $200.0 10.500% Senior Sec Notes B3 / B- 5 NC2.5 100.000% 10.500% 10.5-10.75% Bank Refi Industrial jeff (sole)2/1 Talos Production $297.1 9.750% Senior Notes Caa1 / CCC+ 5 NC2 99.025% 10.000% 9.25-9.5% LBO Nat Res citi/gs/nomura/td (books)2/4 Caesars Operating $1,462.5 9.000% Senior Sec Notes (add-on) B2 / B 7 NC3 97.500% 9.497% 100-100.5% Bank Refi Gaming/Leisure baml/citi/cs/db/gs/jpm/ms (books)2/4 Nationstar Mortgage $400.0 6.500% Senior Notes B2 / B+ 8.5 NC4 100.000% 6.500% 6.500% GCP Financial baml/cs (active), barc/wfs/rbs (passive)2/4 Vector Group $375.0 7.750% Senior Sec Notes (2nd Lien) Ba3 / B+ 8 NC3 100.000% 7.750% 7.75-8% Bond Refi Consumer jeff (sole)2/5 Crescent Resources $79.1 10.250% Senior Sec Notes (2nd Lien) (add-on)Caa1 / B- 4.5 NC3.5 105.500% 8.411% 0.000% GCP Real Estate cs/jeff (books)2/5 Genesis Energy $350.0 5.750% Senior Notes B1 / B 8 NC4 100.000% 5.750% 5.875% Bank Refi Nat Res wfs/bmo/baml/citi/db/rbc (books)2/5 Revlon $500.0 5.750% Senior Notes B1 / B 8 NC3 100.000% 5.750% 5.750% Bond Refi Consumer citi/baml/cs/jpm/wfs (books)2/5 Speedy Cash $106.3 10.750% Senior Sec Notes B3 / B 5.25 NC2.25 106.250% 9.219% 106-106.25% Corp M&A Financial jeff/ubs (books)2/5 Starz Finance $178.5 5.000% Senior Notes (add-on) Ba2 / BB 6.75 NC2.75 102.000% 4.513% 102 px Refi Media strh/baml/barc (books)2/6 Kion Group $269.3 E+450 bps Senior Secured FRN (EUR) B2 / B 7 NC1 99.500% E+450 bps 99.5-100 px Refi Industrial baml/db/bnpp/cmz/gs/kkr/uni (books)2/6 Kion Group $608.9 6.750% Senior Secured FRN (EUR) B2 / B 7 NC3 100.000% 6.750% 6.750% Refi Industrial baml/db/bnpp/cmz/gs/kkr/uni (books)2/6 Labco $139.4 8.500% Senior Sec Notes (add-on) (EUR) B3 / B+ 5 NC1 103.000% 7.753% 0.000% Refi Healthcare db/barc/natx (books)2/6 Martin Midstream Partners $250.0 7.250% Senior Notes B3 / B 8 NC4 100.000% 7.250% 7.250% Bank Refi Nat Res wfs/baml/rbc/rbs/strh (books)2/6 VimpelCom $1,000.0 5.950% Senior Notes Ba3 / BB 10 NCL 100.000% 5.950% 0.000% Refi Telecom barc/citi/ing/rbs (books)2/6 VimpelCom $600.0 5.200% Senior Notes Ba3 / BB 6 NCL 100.000% 5.200% 0.000% Refi Telecom barc/citi/ing/rbs (books)2/7 Cantor Commercial $247.5 7.750% Senior Notes B1 / B 5 NC2 98.984% 8.000% 7.750% GCP Real Estate db/baml/cantor (books)
Leveraged Capital Markets Update
![Page 13: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/13.jpg)
13
Week ending October 11, 2013
YTD HIGH YIELD DEALS (Continued)
YTD High Yield Transactions Date Issuer Proceeds Coupon Security Ratings Structure Price Yield Price Talk UOP Industry Underwriters1/0 0 (USD $mm) 0.000% 0 / 0.000% 0.000% 0.000% 0 0 02/7 Hornbach-Baumarkt $332.3 3.875% Senior Notes (EUR) Ba2 / BB+ 7 NCL 99.250% 4.000% 4-4.25% GCP Industrial cmz/hsbc/uni (books)2/7 Tervita Corp $650.0 8.000% Senior Sec Notes B2 / B- 5.75 NC2.75 100.000% 8.000% 8.000% Bank Refi Industrial rbc (active), gs/td/db (passive)2/7 Tervita Corp $200.5 9.000% Senior Sec Notes (CAD) B2 / B- 5.75 NC2.75 100.000% 9.000% 8.75-8.875% Bank Refi Industrial rbc (active), gs/td/db (passive)2/7 Universal Hospital $234.0 7.625% Senior Sec Notes (2nd Lien) B3 / B+ 7.5 NC2.5 106.375% 6.239% 106.25-106.5 px Bond Refi Healthcare barc/baml/rbc (books)2/7 Virgin Media (Lynx I Corp) $1,000.0 5.375% Senior Sec Notes Ba3 / BB- 8 NC4 100.000% 5.375% 5.25-5.5% Corp M&A Media cs/barc/bnpp/baml/db (books)2/7 Virgin Media (Lynx I Corp) $1,727.9 6.000% Senior Sec Notes (GBP) Ba3 / BB- 8 NC4 100.000% 6.000% 6.000% Corp M&A Media cs/barc/bnpp/baml/db (books)2/7 Virgin Media (Lynx II Corp) $530.0 6.375% Senior Notes B2 / B 10 NC5 100.000% 6.375% 6.25-6.5% Corp M&A Media cs/barc/bnpp/baml/db (books)2/7 Virgin Media (Lynx II Corp) $392.7 7.000% Senior Notes (GBP) B2 / B 10 NC5 100.000% 7.000% 7.000% Corp M&A Media cs/barc/bnpp/baml/db (books)2/8 Alliance Grain Traders $124.7 9.000% Senior Sec Notes (2nd Lien) (CAD)NR / B 5 NC3 99.500% 9.127% 9.000% Bank Refi Consumer scotia/cibc/gmp (books)2/8 Millennium Offshore $225.0 9.500% Senior Sec Notes B2 / B 5 NC2 100.000% 9.500% 9.500% Refi Nat Res gs (sole)
2/11 Delphi Corp $800.0 5.000% Senior Notes Ba1 / BB+ 10 NC5 100.000% 5.000% 4.75-5% Bank Refi Industrial jpm/baml/db/barc/citi/gs (books)2/11 FairPoint Communications $300.0 8.750% Senior Sec Notes B2 / B 6.5 NC3 100.000% 8.750% 8.5-8.75% Bank Refi Telecom ms/cs/jeff (books)2/11 NII Holdings (Nextel International) $750.0 11.375% Senior Notes B2 / B- 6.5 NC3.5 100.000% 11.375% 11.25-11.5% GCP Telecom jpm/cs/gs/ms (books)2/11 ONTEX $103.5 7.500% Senior Sec Notes (add-on) (EUR) B1 / B 5 NC1 103.250% 6.741% 0.000% Corp M&A Consumer gs (sole)2/11 Speedy Group $125.0 12.000% Senior Notes NR / NR 4.75 NC2.25 100.000% 12.000% 0.000% Dividend Financial jeff (sole)2/11 Triumph Group $375.0 4.875% Senior Notes Ba3 / BB- 8 NC4 100.000% 4.875% 0.000% Bank Refi Industrial rbc/jpm/ubs (books)2/12 Flextronics International $500.0 5.000% Senior Sec Notes Ba1 / BB+ 10 NCL 100.000% 5.000% 5.000% Bank Refi Technology jpm/baml/citi (active), bnpp/db/hsbc/rbs/scotia (passive)2/12 Flextronics International $500.0 4.625% Senior Sec Notes Ba1 / BB+ 7 NCL 100.000% 4.625% 4.5-4.75% Bank Refi Technology jpm/baml/citi (active), bnpp/db/hsbc/rbs/scotia (passive)2/13 PolyOne $600.0 5.250% Senior Notes Ba3 / BB- 10 NCL 100.000% 5.250% 5.250% Corp M&A Chemicals baml/wfs (books)2/14 American Axle $400.0 6.250% Senior Notes B2 / B 8 NC3 100.000% 6.250% 6.250% Bond Refi Industrial baml/jpm/barc/citi/rbc (books)2/14 Burlington Holdings $294.0 6.750% Senior PIK Toggle Notes Caa2 / CCC 5 NC1 98.000% 9.514% 9-9.25% Dividend Retail gs/jpm/baml/ms/wfs (books)2/14 Italcementi $468.3 6.125% Senior Notes (EUR) Ba2 / BB+ 5 NCL 99.477% 6.250% 6.500% GCP Industrial imi/bnpp/ca/natx/uni (books)2/14 Neovia Logistics $125.0 10.000% Senior PIK Toggle Notes Caa2 / CCC+ 5 NC2 100.000% 10.000% 10.000% Dividend Industrial ubs/mac/db (books)2/15 RSI Home Products $525.0 6.875% Senior Sec Notes (2nd Lien) B1 / B+ 5 NC2 100.000% 6.875% 7.000% Repurch Stock Industrial baml/wfs/barc (books)2/18 ThyssenKrupp $1,664.7 4.000% Senior Notes (EUR) Ba1 / BB 5.5 NCL 99.681% 4.070% MS+290-300 bps GCP Nat Res blb/citi/hsbc/uni (books)2/19 Digicel Group Limited $1,000.0 6.000% Senior Notes B1 / NR 8 NC3 100.000% 6.000% 6.000% Bond Refi Telecom citi/jpm/cs/barc/db/davy (books)2/20 Goodyear $900.0 6.500% Senior Notes B1 / B+ 8 NC3 100.000% 6.500% 6.500% Other Industrial gs/barc/citi/ca-cib/db/jpm/ms (books)2/21 Arqviva Broadcast $915.3 9.500% Senior Notes (GBP) B3 / NR 7 NC3 100.000% 9.500% 9.25-9.5% Bank Refi Media db/jpm/rbs/baml/barc/hsbc/lloyds/ubs (books)2/21 Ashland $600.0 3.000% Senior Notes Ba1 / BB 3 NCL 100.000% 3.000% 3.000% Bank Refi Chemicals citi/baml/db/scotia/pnc (books)2/21 Ashland $350.0 6.875% Senior Notes Ba1 / BB 30 NCL 100.000% 6.875% 6.875-7% Bank Refi Chemicals citi/baml/db/scotia/pnc (books)2/21 Ashland $700.0 3.875% Senior Notes Ba1 / BB 5 NCL 100.000% 3.875% 3.875-4% Bank Refi Chemicals citi/baml/db/scotia/pnc (books)2/21 Ashland $643.9 4.750% Senior Notes Ba1 / BB 9.5 NCL 99.059% 4.875% 4.875-5% Bank Refi Chemicals citi/baml/db/scotia/pnc (books)2/21 Clear Channel Communications $575.0 11.250% Senior Sec Notes Caa1 / CCC+ 8 NC3 100.000% 11.250% 11-11.25% Bank Refi Media citi/db/gs/cs (books)2/22 Aramark $1,000.0 5.750% Senior Notes B3 / B- 7 NC2 100.000% 5.750% 5.875% Bond Refi Industrial gs/jpm/barc/baml/wfs (books)2/22 Station Casinos $500.0 7.500% Senior Notes Caa1 / CCC+ 8 NC3 100.000% 7.500% 7.250% Bond Refi Gaming/Leisure db/baml/jpm/gs (books)2/25 Glorious Property $250.0 13.250% Senior Notes Caa1 / B- 5 NC3 100.000% 13.250% 13.250% Bank Refi Real Estate citic/db/haitong/icbci/jpm/rbs/ubs (books)2/25 TRW Automotive $400.0 4.500% Senior Notes Ba2 / BB 8 NCL 100.000% 4.500% 4.500% GCP Industrial baml/jpm (books)2/27 Associated Asphalt $185.0 8.500% Senior Sec Notes Caa1 / B 5 NC2 100.000% 8.502% 8.5-8.75% Bank Refi Industrial gs/key/strh/jpm (books)2/27 Meritage Homes $175.0 4.500% Senior Notes B1 / B+ 5 NCL 100.000% 4.500% 0.000% Bond Refi Real Estate citi (sole)2/28 Avis Budget Finance $328.4 6.000% Senior Notes (EUR) B2 / B 8 NC3 100.000% 6.000% 6.000% M&A Industrial citi/ca-cib/db/jpm (books)2/28 Cedar Fair $500.0 5.250% Senior Notes B1 / B 8 NC3 100.000% 5.250% 5.25-5.5% Bank Refi Gaming/Leisure jpm/ubs/wfs (books)2/28 Charter Communications (CCO Holdings) $500.0 5.750% Senior Notes B1 / BB- 10.5 NC5 100.000% 5.750% 5.750% Bank Refi Telecom db/baml/citi/barc/cs/jpm/ms/ubs (books)2/28 Charter Communications (CCO Holdings) $500.0 5.250% Senior Notes B1 / BB- 8 NC3 100.000% 5.250% 5.250% Bank Refi Telecom db/baml/citi/barc/cs/jpm/ms/ubs (books)2/28 Equinix $1,000.0 5.375% Senior Notes Ba3 / BB 10 NC5 100.000% 5.375% 5.25-5.625% Bond Refi Telecom jpm/barc/citi/baml/db (books)2/28 Equinix $500.0 4.875% Senior Notes Ba3 / BB 7 NC4 100.000% 4.875% 4.875-5.125% Bond Refi Telecom jpm/barc/citi/baml/db (books)2/28 Huntsman International $246.3 4.875% Senior Notes (add-on) B1 / BB- 7.75 NCL 98.500% 5.112% 98-98.5 px Bond Refi Chemicals jpm/baml/barc/citi/gs/hsbc/rbc/wfs (books)2/28 Isle of Capri Casinos $350.0 5.875% Senior Notes B2 / B+ 8 NC3 100.000% 5.875% 6.000% Bank Refi Gaming/Leisure wfs/cs/db (books)2/28 Peugeot $1,306.9 7.375% Senior Notes (EUR) Ba3 / BB- 5 NCL 99.494% 7.500% 7.500% GCP Industrial bnpp/ca/db/hsbc (books)2/28 RR Donnelley $447.8 7.875% Senior Notes Ba3 / BB 8 NCL 99.500% 7.961% 8.000% Bond Refi Media baml/jpm/mus/wfs (books)3/1 DFS Furniture Holdings $165.4 L+600 bps Senior Secured FRN (GBP) B2 / B 5.5 NC1 100.000% L+600 bps 99.5-100 px Refi Consumer gs/jpm (active), lloyds (passive)3/1 DFS Furniture Holdings $300.8 7.625% Senior Secured FRN (GBP) B2 / B 5.5 NC2 100.000% 7.625% 7.750% Refi Consumer gs/jpm (active), lloyds (passive)3/4 Rallye $390.7 4.250% Senior Notes (EUR) NR / NR 6 NCL 100.000% 4.250% 0.000% GCP Retail bnpp/hsbc/medio/natx/rbs (books)3/4 Range Resources $750.0 5.000% Senior Sub Notes Ba3 / BB 10 NC5 100.000% 5.000% 4.875-5% Bank Refi Nat Res jpm/baml/wfs/barc/cs/db (books)3/4 STATS ChipPAC $255.0 4.500% Senior Notes Ba1 / BB+ 5 NC3 100.000% 4.500% 0.000% Bond Refi Technology cs/db (books)3/5 NXP $500.0 5.750% Senior Notes B3 / B 10 NC5 100.000% 5.750% 5.750% Bank Refi Technology cs/gs/db (books)3/5 ThyssenKrupp $458.9 4.000% Senior Notes (add-on) (EUR) Ba1 / BB 5.5 NCL 100.625% 3.847% 3.85-3.93% GCP Nat Res citi/uni (books)3/6 MasTec $400.0 4.875% Senior Notes Ba3 / BB- 10 NC5 100.000% 4.875% 5.000% Bond Refi Industrial barc/ms/strh (books)3/6 Titan International $345.3 7.875% Senior Sec Notes (add-on) B1 / B+ 4.5 NC0.5 106.250% 5.899% 106.25 px Bank Refi Industrial gs/jeff (books)3/7 Acadia Healthcare $150.0 6.125% Senior Notes B3 / CCC+ 8 NC3 100.000% 6.125% 0.000% GCP Healthcare baml/citi/jeff (books)3/7 Claire's Stores $210.0 6.125% Senior Sec Notes B2 / B- 7 NC4 100.000% 6.125% 6.250% Bond Refi Retail gs/cs/jpm/rbc (books)3/7 Coinstar $350.0 6.000% Senior Notes Ba3 / BB- 6 NC3 100.000% 6.000% 6-6.25% GCP Retail baml/wfs/hsbc (books)3/7 Sealed Air $425.0 5.250% Senior Notes B1 / BB- 10 NCL 100.000% 5.250% 5.375% Bond Refi Consumer baml/citi/bnpp/jpm/rabo (books)3/8 Cornerstone Chemical $230.0 9.375% Senior Sec Notes B3 / B- 5 NC2 100.000% 9.375% 9.500% Refi Chemicals imp/key (books)3/8 MetroPCS Wireless $1,750.0 6.625% Senior Notes B1 / BB 10 NC5 100.000% 6.625% 6.750% Bank Refi Telecom db/cs/jpm/ms (books)3/8 MetroPCS Wireless $1,750.0 6.250% Senior Notes B1 / BB 8 NC4 100.000% 6.250% 6.375% Bank Refi Telecom db/cs/jpm/ms (books)3/8 Stream Global $30.6 11.250% Senior Sec Notes (add-on) B1 / B+ 1.5 NC0 102.000% 7.454% 0.000% Bank Refi Technology ms/wfs/baml/rbc (books)
3/11 CBRE Services $800.0 5.000% Senior Notes NR / NR 10 NC5 100.000% 5.000% 5.125% Bank Refi Real Estate baml/jpm/cs/wfs/hsbc/scotia/barc/rbs (books)3/11 Levi Strauss $151.2 6.875% Senior Notes (add-on) B1 / B+ 9 NC4 108.000% 5.438% 0.000% Bank Refi Ratail baml/jpm (books)3/12 Fiat Finance & Trade $1,629.5 6.625% Senior Notes B1 / BB- 5 NCL 100.000% 6.625% 0.000% GCP Industrial imi/barc/ca/medio/rbs/sant/ubs (books)3/12 GEO Group $300.0 5.125% Senior Notes B1 / B+ 10 NC5 100.000% 5.125% 5.250% Bank Refi Media baml/barc/strh/wfs/jpm (books)3/12 Kaisa Group $550.0 8.875% Senior Notes B1 / B+ 5 NC3 100.000% 8.875% 9.125% GCP Real Estate cs/jpm (active), hsbc/icbc (passive)3/12 Steel Dynamics $400.0 5.250% Senior Notes Ba2 / BB+ 10 NC5 100.000% 5.250% 5.375% Bond Refi Industrial baml/gs/jpm (active), db/ms (passive)3/12 Western Refining $350.0 6.250% Senior Notes B2 / BB- 8 NC4 100.000% 6.250% 6.250% Bond Refi Nat Res db/baml/cs/gs/rbs (books)3/13 Glorious Property $150.0 13.250% Senior Notes (add-on) Caa1 / B- 7 NC3 100.000% 13.250% 0.000% Refi Real Estate db/haitong/icbc/jpm/rbs/ubs (books)3/13 NANA Development $275.0 9.500% Senior Sec Notes B3 / B+ 6 NC3 100.000% 9.500% 9.500% Bank Refi Industrial gs (sole)3/14 Aurora Oil & Gas $300.0 7.500% Senior Notes Caa1 / CCC+ 7 NC3 100.000% 7.500% 7.50-7.75% Corp M&A Nat Res cs/ubs (books)3/14 Belden $388.1 5.500% Senior Sub Notes Ba2 / B+ 10 NC5 100.000% 5.500% 5.5-5.75% GCP Technology db/gs/jpm/wfs (books)3/14 Cegedim $388.1 6.750% Senior Notes NR / B+ 7 NC3 100.000% 6.750% 6.75-7% Refi Healthcare bnpp/baml (books)3/14 Ceridian $475.0 11.000% Senior Notes Caa3 / CCC 8 NC3 100.000% 11.000% 11.000% Bond Refi Technology db/cs/baml (books)3/14 Hertz $250.0 4.250% Senior Notes B2 / B 5 NCL 100.000% 4.250% 4.25-4.375% GCP Industrial baml/barc/db/gs (books)3/14 Hornbeck Offshore $450.0 5.000% Senior Notes Ba3 / BB- 8 NC3 100.000% 5.000% 5.000% Bond Refi Nat Res barc/jpm/wfs/dnb3/14 Mobile Challenger $355.8 8.750% Senior PIK Toggle Notes NR / B- 6 NC1.5 100.000% 8.750% 8.75-9.0%, 1 pt OID Bank Refi Telecom db/gs/bnpp/cs/ms/ubs (books)3/14 Mobile Challenger $284.1 8.750% Senior PIK Toggle Notes NR / B- 6 NC1.5 100.000% 8.750% 8.75-9.0%, 1 pt OID Bank Refi Telecom db/gs/bnpp/cs/ms/ubs (books)3/15 McGraw-Hill Education $789.1 9.750% Senior Sec Notes (1st Lien) B2 / NR 8 NC3 98.637% 10.000% 9.75-10% LBO Media cs/ms/jeff/ubs/nomura/bmo (books)3/15 MDC Partners $550.0 6.750% Senior Notes B3 / B- 7 NC3 100.000% 6.750% 6.75-7% Bond Refi Telecom jpm/gs (books)3/15 Seitel $250.0 9.500% Senior Notes B3 / B 6 NC3 100.000% 9.500% 9.500% Bond Refi Nat Res db/baml (books)3/15 The Sun Products Corp $575.0 7.750% Senior Notes Caa1 / CCC 8 NC3 100.000% 7.750% 7.750% Refi Consumer barc/jpm/baml/gs/ms (books)3/18 CenturyLink $1,000.0 5.625% Senior Notes Ba2 / BB 7 NCL 100.000% 5.625% 5.5-5.75% Bank Refi Telecom jpm/barc (active), citi/strh (passive)3/18 Chesapeake Energy $1,100.0 5.750% Senior Notes Ba3 / BB- 10 NCL 100.000% 5.750% 5.750% Bond Refi Nat Res ms/cs (active), citi/gs/wfs (passive)3/18 Chesapeake Energy $500.0 3.250% Senior Notes Ba3 / BB- 3 NC1 100.000% 3.250% 3.25-3.5% Bond Refi Nat Res ms/cs (active), citi/gs/wfs (passive)3/18 Chesapeake Energy $700.0 5.375% Senior Notes Ba3 / BB- 8 NC3 100.000% 5.375% 5.375-5.5% Bond Refi Nat Res ms/cs (active), citi/gs/wfs (passive)3/18 Sinclair Television $600.0 5.375% Senior Notes B1 / B 8 NC3 100.000% 5.375% 5.250% Bank Refi Media jpm/db/rbc (books)3/19 Avis Budget Car Rental $500.0 5.500% Senior Notes B2 / B 10 NC5 100.000% 5.500% 5.500% Bond Refi Industrial barc/baml/ms/rbs/scotia (books)3/19 Cooper-Standard $174.1 7.375% Senior PIK Toggle Notes Caa1 / B 5 NC1 99.500% 7.497% 7.750% Bond Refi Industrial db/baml/jpm/ubs (books)3/19 Digicel $300.0 6.000% Senior Notes (add-on) B1 / NR 8 NC3 100.000% 6.000% 6.000% GCP Telecom citi/jpm/cs/barc/db (books)3/19 Jefferies Finance $600.0 7.375% Senior Notes B1 / B+ 7 NC3 100.000% 7.375% 7.5-7.75% GCP Financial jeff (sole)3/19 Owens Illinois $427.6 4.875% Senior Notes Ba2 / BB+ 8 NCL 100.000% 4.875% 5.000% Bond Refi Industrial gs/barc/bnpp/baml/cacib/db/hsbc/jpm (books)3/19 Watco Companies $400.0 6.375% Senior Notes B3 / CCC+ 10 NC5 100.000% 6.375% 6.500% Bank Refi Industrial wfs/jpm/barc/bmo/usb (books)3/20 Intelsat $1,000.0 8.125% Senior Notes Caa3 / CCC+ 10 NC5 100.000% 8.125% 8.125% Bond Refi Telecom gs/ms/jpm (books)3/20 Intelsat $500.0 6.750% Senior Notes Caa3 / CCC+ 5 NC2 100.000% 6.750% 6.750% Bond Refi Telecom gs/ms/jpm (books)3/20 Intelsat $2,000.0 7.750% Senior Notes Caa3 / CCC+ 8 NC4 100.000% 7.750% 7.750% Bond Refi Telecom gs/ms/jpm (books)3/20 US Steel $275.0 6.875% Senior Notes B1 / BB 8 NC4 100.000% 6.875% 6.75-6.875% Refi Industrial jpm/barc/gs/ms (books)3/21 Corrections Corp of America $350.0 4.625% Senior Notes Ba1 / BB+ 10 NCL 100.000% 4.625% 4.750% Bond Refi Industrial baml/jpm/strh/wfs/pnc (books)3/21 Corrections Corp of America $325.0 4.125% Senior Notes Ba1 / BB+ 7 NCL 100.000% 4.125% 4.250% Bond Refi Industrial baml/jpm/strh/wfs/pnc (books)3/21 Milacron $465.0 7.750% Senior Notes Caa1 / B- 8 NC3 100.000% 7.750% 8.000% Corp M&A Industrial baml/jpm/barc/cs/rbc (books)3/21 Nationstar Mortgage $206.5 6.500% Senior Notes (add-on) B2 / B+ 8.5 NC4 103.250% 5.828% 103-103.25 px GCP Financial baml/cs (active), barc/wfs (passive)3/21 Rexel $499.9 5.250% Senior Notes Ba3 / BB 7.25 NC3.25 99.981% 5.250% 5.25-5.5% Bond Refi Industrial jpm/bnpp/ca/hsbc/ing/natx/sg/baml/barc/cmcic (books)3/21 Rexel $644.0 5.125% Senior Notes Ba3 / BB 7.25 NC3.25 99.982% 5.125% 5.25-5.5% Bond Refi Industrial bnpp/jpm/ca/hsbc/ing/natx/sg/baml/barc/cmcic (books)3/21 UPC $369.8 6.750% Senior Notes B2 / B- 10 NC5 100.000% 6.750% 6.750% Bond Refi Telecom cs/ms/abn/ca/nom/rbs/sb/ubs (books)3/21 UPC $582.0 6.750% Senior Notes B2 / B- 10 NC5 100.000% 6.750% 6.750% Bond Refi Telecom ms/cs/abn/ca/nom/rbs/sb/ubs (books)3/21 Vantage Drilling $775.0 7.125% Senior Sec Notes (1st Lien) B3 / B- 10 NC5 100.000% 7.125% 7.250% Bond Refi Nat Res citi/baml/cs/db/jeff/rbc (books)3/22 Exterran $344.5 6.000% Senior Notes B2 / B- 8 NC4 98.439% 6.250% 6.25-6.5% Bank Refi Nat Res wfs/ca/jpm/rbc/rbs (books)3/22 Fidelity & Gty Life $300.0 6.375% Senior Notes B1 / B+ 8 NC3 100.000% 6.375% 6.375-6.5% GCP Financial jeff/cs/macq (books)3/22 HJ Heinz (Hawk Acquisition) $3,100.0 4.250% Senior Sec Notes (2nd Lien) B1 / BB- 7.5 NC2 100.000% 4.250% 4.250% LBO Consumer wfs/jpm/barc/citi (books)3/22 Nokia Siemens $580.5 6.750% Senior Notes B2 / B+ 5 NC2 100.000% 6.750% 6.750% Refi Telecom jpm/cs/barc/baml/citi/nordea/rbs/sg (books)3/22 Nokia Siemens $451.5 7.125% Senior Notes B2 / B+ 7 NC3 100.000% 7.125% 7.375% Refi Telecom jpm/cs/barc/baml/citi/nordea/rbs/sg (books)3/22 PetroLogistics $365.0 6.250% Senior Notes B2 / B 7 NC3 100.000% 6.250% 6.500% Bank Refi Nat Res ms/barc/citi/gs/stifel/ubs/wfs3/22 St Barbara $248.7 8.875% Senior Sec Notes (1st Lien) B2 / B 5 NC2 99.493% 9.000% 8.5-8.75% Bank Refi Nat Res db/barc (books)3/22 Takko $144.3 E+700 bps Senior Sec Notes FRN (EUR) B3 / B 6 NC1 99.500% E+700 bps 99.5 px Bank Refi Retail db/gs/uni/nom3/22 Takko $377.9 9.875% Senior Sec Notes FRN (EUR) B3 / B 6 NC3 99.437% 10.000% 9.75-10% Bank Refi Retail db/gs/uni/nom3/22 Walter Energy $450.0 8.500% Senior Notes B3 / NR 8 NC4 100.000% 8.500% 8.625% Bank Refi Nat Res ms/barc/baml/citi/ca-cib (books)3/25 Graphic Packaging $425.0 4.750% Senior Notes NR / BB+ 8 NCL 100.000% 4.750% 4.75-4.875% Bond Refi Industrial baml/jpm/citi/gs/strh (books)3/26 First Data $815.0 10.625% Senior Notes Caa1 / B- 8 NC3 100.000% 10.625% 10.625% Bond Refi Technology citi/db/wfs (active), baml/cs/gs/hsbc (passive)3/26 Greentown China $307.5 8.500% Senior Notes (add-on) B3 / B- 5 NC3 102.500% 7.863% 102.5 px Refi Real Estate db/boci/gs/hsbc/icbc/stch/ubs (books)3/26 IVS Italia $257.1 7.125% Senior Sec Notes NR / BB- 7 NC3 100.000% 7.125% 0.000% Bank Refi Industrial bnpp/imi (bboks)3/26 Rexel $194.8 5.125% Senior Notes (add-on) (EUR) Ba3 / BB 7.25 NC3.25 101.000% 4.955% 100.75 px GCP Industrial bnpp/ca/hsbc/ing/jpm/natx/sg/baml/barc/cmcic (books)
Leveraged Capital Markets Update
![Page 14: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/14.jpg)
14
Week ending October 11, 2013
YTD HIGH YIELD DEALS (Continued)
YTD High Yield Transactions Date Issuer Proceeds Coupon Security Ratings Structure Price Yield Price Talk UOP Industry Underwriters1/0 0 (USD $mm) 0.000% 0 / 0.000% 0.000% 0.000% 0 0 0
3/27 CITIC Pacific $500.0 6.375% Senior Notes Ba1 / BB+ 7 NCL 100.000% 6.375% 6.375% Refi Industrial hsbc/ubs/citic (books)3/27 Frontier Communications $750.0 7.625% Senior Notes Ba2 / BB- 11 NCL 100.000% 7.625% 7.5-7.75% Bond Refi Telecom jpm/barc/baml/citi/cs/db/ms/rbs (books)3/27 Navistar $354.4 8.250% Senior Notes (add-on) B3 / CCC+ 7.5 NC1.5 101.250% 7.916% 101 px Bank Refi Industrial jpm/cs/gs/baml (books)3/27 Ryman Hospitality $350.0 5.000% Senior Notes B1 / BB 8 NC3 100.000% 5.000% 5.250% Bank Refi Real Estate db/baml/jpm/wfs/usb/ca (books)3/28 American Apparel $199.8 13.000% Senior Sec Notes Caa1 / B- 7 NC3 97.000% 13.675% 13.000% Refi Retail cowen/seaport (books)3/28 Sunac China $500.0 9.375% Senior Notes B1 / B+ 5 NC3 100.000% 9.375% 9.500% Refi Real Estate hsbc/boci/citi/icbc/ms (books)4/2 Continental Resources $1,500.0 4.500% Senior Notes Ba2 / BB+ 10 NCL 100.000% 4.500% 4.5-4.625% Bank Refi Nat Res baml/jpm/rbs/mus/wfs (books)4/2 Dish DBS Corp $1,200.0 4.250% Senior Notes Ba2 / BB- 5 NCL 100.000% 4.250% 4.25-4.375% GCP Media db (sole)4/2 Dish DBS Corp $1,100.0 5.125% Senior Notes Ba2 / BB- 7 NCL 100.000% 5.125% 5.125% GCP Media db (sole)4/3 CNH Capital $600.0 3.625% Senior Notes Ba2 / BB 5 NCL 100.000% 3.625% 3.625-3.75% GCP Financial barc/bnpp/db/jpm (books)4/3 Toll Brothers $300.0 4.375% Senior Notes Ba1 / BB+ 10 NCL 100.000% 4.375% 4.25-4.375% GCP Real Estate citi/db/rbs/strh (books)4/4 ABC Supply $500.0 5.625% Senior Notes B3 / B 8 NC3 100.000% 5.625% 5.750% Corp M&A Industrial db/ubs/baml (books)4/4 Bonanza Creek Energy $300.0 6.750% Senior Notes B3 / B- 8 NC4 100.000% 6.750% 6.750% Bank Refi Nat Res wfs/jpm/key/rbc (books)4/5 Crownrock $400.0 7.125% Senior Sec Notes Caa1 / CCC+ 8 NC3 100.000% 7.125% 7-7.25% Refi Nat Res cs/mus (books)4/9 Hecla Mining $500.0 6.875% Senior Notes B2 / B 8 NC3 100.000% 6.875% 6.875-7.125% Corp M&A Nat Res baml/scotia (books)4/9 Rentech Nitrogen $320.0 6.500% Senior Sec Notes (2nd Lien) B1 / B 8 NC3 100.000% 6.500% 6.50-6.75% Refi Chemicals cs/bmo/ms/rbc (books)
4/10 AAR Corp $161.3 7.250% Senior Notes (add-on) Ba3 / BB 8.75 NC4 107.500% 5.864% 107.5 px Bank Refi Industrial baml/wfs/rbs4/10 Cheniere Partners $1,000.0 5.625% Senior Sec Notes Ba3 / BB+ 10 NCL 100.000% 5.625% 5.625% GCP Nat Res ms/sg/miz/rbs/cs/sc/mufj/ca/hsbc/ing/bancaimi/jpm/lloyds/scb/smbc4/10 Cheniere Partners $512.5 5.625% Senior Sec Notes (add-on) Ba3 / BB+ 8 NCL 102.500% 5.229% 102.5 px GCP Nat Res ms/sg/miz/rbs/cs/sc/mufj/ca/hsbc/ing/bancaimi/jpm/lloyds/scb/smbc4/10 Lennar $49.1 4.750% Senior Notes (add-on) Ba3 / BB- 9.5 NCL 98.250% 4.986% 0.000% GCP Industrial citi (books)4/10 Matterhorn Financing $326.8 9.000% Senior PIK Toggle Notes (EUR) NR / CCC+ 6 NC1.5 100.000% 9.000% 0.000% Dividend Telecom cs/db/ubs/citi/jpm/ms4/10 Penn Virginia $775.0 8.500% Senior Notes Caa1 / B- 7 NC4 100.000% 8.500% 8.500% Corp M&A Nat Res rbc/wfs (books)4/10 Sensata $500.0 4.875% Senior Notes B1 / BB- 10.5 NCL 100.000% 4.875% 5.000% Bank Refi Technology ms/barc4/11 Affinia Group $250.0 7.750% Senior Notes Caa2 / B- 8 NC3 100.000% 7.750% 7.75-8% Refi / Dividend Industrial jpm/baml/barc/db (books)4/11 Bluescope Steel $300.0 7.125% Senior Notes Ba3 / BB 5 NC2.5 100.000% 7.125% 7.250% GCP Industrial cs (sole)4/11 Metalloinvest $1,000.0 5.625% Senior Notes Ba3 / BB- 7 NCL 100.000% 5.625% 5.625-5.75% GCP Nat Res cs/db/vtb/ca/sb/cib (books)4/11 Taylor Morrison $550.0 5.250% Senior Notes B2 / BB- 8 NC3 100.000% 5.250% 0.000% GCP Industrial citi/cs/db/gs/jpm/wfs/hsbc4/11 Unitymedia $457.5 5.625% Senior Sec Notes (EUR) Ba3 / B+ 10 NC5 100.000% 5.625% 0.000% Refi Telecom citi/ca/ing/rbs/sg/ubs4/12 Athlon Holdings $500.0 7.375% Senior Notes Caa1 / CCC+ 8 NC3 100.000% 7.375% 7.5-7.75% Dividend Nat Res baml/wfs/ca/cs/rbc/ubs (books)4/12 Memorial Production $295.6 7.625% Senior Notes Caa1 / B- 8 NC4 98.521% 7.875% 8.000% Bank Refi Nat Res wfs/jpm/barc/baml/citi/rbc (books)4/12 NES Rentals $300.0 7.875% Senior Sec Notes (2nd Lien) Caa2 / CCC+ 5 NC2 100.000% 7.875% 8.000% Bond Refi Industrial db/wfs (books)4/12 New Cotai $380.0 10.625% Senior PIK Toggle Notes NR / NR 6 NC2 100.000% 10.625% 10.750% Dividend Gaming/Leisure cs (sole)4/12 Yingde Gases $298.5 8.125% Senior Notes Ba3 / BB- 5 NC3 99.496% 8.250% mid-to-high 8% GCP Nat Res db (sole)4/15 Pinnacle Foods $350.0 4.875% Senior Notes B3 / B- 8 NC3 100.000% 4.875% 4.75-5% Refi Consumer barc/baml/cs/gs/ms/ubs/macq/blackstone (books)4/18 Constantin Medien $84.9 7.000% Senior Notes (EUR) NR / NR 5 NCL 100.000% 7.000% 0.000% GCP Media cbseydler (sole)4/18 Elior $457.2 6.500% Senior Notes (EUR) B3 / BB- 7 NC3 100.000% 6.500% 6.500% Refi Consumer jpm/ca/hsbc/nom (books)4/18 Rosetta Resources $700.0 5.625% Senior Notes B2 / B+ 8 NC4 100.000% 5.625% 5.750% Corp M&A Nat Res jpm/ms/wfs (books)4/18 SoftBank $2,485.0 4.500% Senior Notes Baa3 / BBB 7 NCL 100.000% 4.500% 4.5-4.75% Corp M&A Telecom db/bamlca/miz/ms/nom (books)4/18 SoftBank $816.4 4.625% Senior Notes (EUR) Baa3 / BBB 7 NCL 100.000% 4.625% 4.5-4.75% Corp M&A Telecom db/ca/miz/nom (books)4/18 TeamSystem $391.8 7.375% Senior Notes (EUR) B2 / B 7 NC3 100.000% 7.375% 7.500% Refi Technology jpm/sg/uni/hsbc/natx/ikb/imi (books)4/19 Charter Communications $1,000.0 5.750% Senior Notes B1 / NR 10.75 NC5 100.000% 5.750% 5.625-5.75% GCP Telecom baml/citi/cs/db/barc/jpm/ubs/ms (books)4/19 RPG Byty $522.1 6.750% Senior Sec Notes (EUR) Ba2 / NR 7 NC3 100.000% 6.750% 6.750% Refi Real Estate gs/jpm (active)4/19 Wind Acquisition Finance $195.8 E+525 bps Senior Sec Notes (EUR) Ba3 / BB- 6 NC1 100.000% E+525 bps 99.5 px Other Telecom bnpp/imi/sg/ubs/uni (books)4/19 Wind Acquisition Finance $550.0 6.500% Senior Sec Notes Ba3 / BB- 7 NC3 100.000% 6.500% 6.5-6.625% Other Telecom bnpp/imi/sg/ubs/uni (books)4/23 Alno $58.8 8.500% Senior Notes (EUR) NR / NR 5 NCL 100.000% 8.500% 0.000% GCP Consumer cbseydler (sole)4/23 Associated Materials $106.0 9.125% Senior Notes (add-on) Caa1 / B- 4.5 NC0.5 106.000% 7..164% 106 px Bank Refi Industrial db/ubs/strh/wfs (books)4/23 Hiland Partners $163.5 7.250% Senior Notes (add-on) B3 / B- 7.5 NC3.5 109.000% 5.310% 108.5-109 px Bank Refi Nat Res baml/wfs/rbs (books)4/23 Realogy Group $500.0 3.375% Senior Notes Caa2 / B- 3 NCL 100.000% 3.375% 3.500% Bond Refi Real Estate jpm/gs/barc/citi/cs/ca (books)4/23 Rex Energy $105.0 8.875% Senior Notes (add-on) B3 / B- 7.75 NC3.5 105.000% 7.754% 105 px GCP Nat Res rbc/key/strh/wfs (books)4/23 Schaeffler Finance $784.0 4.250% Senior Notes (EUR) Ba3 / B+ 5 NC2 100.000% 4.250% 4.25-4.5% Bank Refi Industrial barc/citi/bayernlb/bnpp/cbk/db/hsbc/jpm/lbbw/uni (books)4/23 Schaeffler Finance $850.0 4.750% Senior Notes Ba3 / B+ 8 NC3 100.000% 4.750% 4.75-5% Bank Refi Industrial citi/barc/bayernlb/bnpp/cbk/db/hsbc/jpm/lbbw/uni (books)4/24 Regency Energy Partners $600.0 4.500% Senior Notes B1 / BB 10.5 NCL 100.000% 4.500% 4.5-4.75% Corp M&A Nat Res jpm/baml/barc/citi/cs/rbs/strh/ubs/wfs (books)4/24 Wendel $295.1 6.750% Senior Notes (EUR) (add-on) NR / BB+ 5 NCL 113.292% 3.768% MS+300 GCP Financial bnpp/cm-cic/hsbc/natx/sg (books)4/24 Wendel $143.0 5.875% Senior Notes (EUR) (add-on) NR / BB+ 6.5 NCL 109.779% 4.098% MS+335 GCP Financial bnpp/cm-cic/hsbc/natx/sg (books)4/25 AES Corporation $500.0 4.875% Senior Notes Ba3 / BB- 10 NC5 100.000% 4.875% 4.875% Bond Refi Power ms/barc/citi/cs/db/rbs (books)4/25 CST Brands $550.0 5.000% Senior Notes Ba3 / BB- 10 NC5 100.000% 5.000% 5.250% Dividend Retail cs/jpm/wfs/mit/rbc/rbs (books)4/25 DriveTime Automotive Group $55.5 12.625% Senior Sec Notes (add-on) NR / NR 4 NC1 111.000% 7.671% 111 px Refi Retail jeff/wfs (books)4/25 Erickson Air-Crane $400.0 8.250% Senior Sec Notes (2nd Lien) B1 / B 7 NC3 100.000% 8.250% 8.250% Corp M&A Industrial db/wfs (books)4/25 Pendragon $270.1 6.875% Senior Notes (GBP) B2 / B+ 7 NC3 100.000% 6.875% 6.875-7.0% Bank Refi Retail rbs/barc/lloyds (books)4/25 SSH Holdings Inc (Spencer Spirit) $161.7 9.000% Senior PIK Toggle Notes Caa1 / CCC+ 5 NC1 98.000% 9.510% 98 px Repurch Stock Retail wfs/cs (books)4/26 Resolute Forest Products $594.4 5.875% Senior Notes Ba3 / BB- 10 NC4 99.062% 6.000% 5.5-5.75% Bond Refi Industrial baml/citi/bmo (books)4/26 Yingde Gases $129.2 8.125% Senior Notes Ba3 / BB- 5 NC3 103.375% 7.302% 103.125 px Refi Nat Res db (active), hsbc (passive)4/29 Medi-Partenaires $503.8 7.000% Senior Notes (EUR) B3 / B 7 NC3 100.000% 7.000% 7-7.25% Refi Healthcare cs/ca/natx (books)4/29 Rent-A-Center $250.0 4.750% Senior Notes Ba3 / BB- 8 NC3 100.000% 4.750% 4.75-4.875% GCP Industrial jpm/gs (books)4/30 Constellation Brands $1,050.0 4.250% Senior Notes Ba1 / BB+ 10 NCL 100.000% 4.250% 4.25-4.375% Corp M&A Consumer baml/jpm/rabo/barc/wfs (books)4/30 Constellation Brands $500.0 3.750% Senior Notes Ba1 / BB+ 8 NCL 100.000% 3.750% 3.875-4% Corp M&A Consumer baml/jpm/rabo/barc/wfs (books)4/30 Hellenic Petroleum $655.0 8.000% Senior Notes (EUR) NR / NR 4 NCL 100.000% 8.000% 8.000% GCP Nat Res alpha/cs/eurobank/hsbc/nbg (books)4/30 Portual Telecom $1,309.9 4.625% Senior Notes (EUR) Ba2 / BB 7 NCL 100.000% 4.625% 4.875% GCP Telecom baml/besi/bnpp/caixa/hsbc (books)5/1 Bond Aviation $310.4 L+575 bps Senior Sec Notes (GBP) B2 / B 6 NC1 99.750% L+575 bps 99.5 px Refi Transportation jpm/kkr/rbs (books)5/1 Kleopatra Holdings $296.6 10.250% Senior PIK Toggle Notes (EUR) Caa1 / CCC 4.25 NC1 100.000% 10.250% 0.000% Repurch Stock Industrial jeff/gs (books)5/1 Landry's Inc $255.6 9.375% Senior Notes (add-on) Caa1 / CCC+ 7 NC2 108.750% 7.730% 108.5-108.75 px Bank Refi Gaming/Leisure jeff/citi/db (books)5/1 Towergate $616.2 L+550 bps Senior Sec Notes FRN (GBP) B1 / BB 5 NC1 100.000% L+550 bps L+550 bps Refi Financial cs/gs/lloyds/citi/jpm/ms (books)5/2 BrightHouse Group $342.0 7.875% Senior Sec Notes (GBP) NR / NR 5 NC2 100.000% 7.875% 8.000% Refi Industrial jpm/lloyds (books)5/2 CompuCom Systems $225.0 7.000% Senior Notes Caa1 / CCC+ 8 NC3 100.000% 7.000% 7.000% LBO Technology jpm/citi/bmo/jeff/smbc (books)5/2 Gestamp $350.0 5.625% Senior Sec Notes B1 / BB 7 NC3 100.000% 5.625% 5.750% Refi Industrial db/baml/bankia/barc/bbva/caixa/commerz/itau/jpm/sant/sg (books)5/2 Gestamp $654.4 5.875% Senior Sec Notes (EUR) B1 / BB 7 NC3 100.000% 5.875% 6.000% Refi Industrial db/baml/bankia/barc/bbva/caixa/commerz/itau/jpm/sant/sg (books)5/2 INEOS $678.0 6.125% Senior Notes Caa1 / B- 5.25 NC2 100.000% 6.125% 6.375% Bond Refi Chemicals citi/gs/ubs/baml/barc/jpm/ing/lloyds (books)5/2 INEOS $654.4 6.500% Senior Notes (EUR) Caa1 / B- 5.25 NC2 100.000% 6.500% 6.750% Bond Refi Chemicals gs/citi/ubs/baml/barc/jpm/ing/lloyds (books)5/2 KCA Deutag $480.0 9.625% Senior Sec Notes B3 / B 5 NC4 96.000% 10.681% 9.625% Bank Refi Nat Res jpm/baml/hsbc/lloyds/ms (books)5/2 LKQ Corp $600.0 4.750% Senior Notes Ba3 / BB- 10 NC5 100.000% 4.750% 5.000% Bank Refi Industrial baml/wfs/rbs/mus (books)5/2 R&R Ice Cream $331.1 9.250% Senior PIK Toggle Notes (EUR)Caa1 / CCC+ 5 NC1 100.000% 9.250% 9.25-9.5% LBO Consumer barc/cs (books)5/2 Sanitec $327.2 E+475 bps Senior Secured FRN (EUR) B1 / B+ 5 NC1 100.000% E+475 bps E+475 bps Refi Industrial ubs/db/danske/dnb (books)5/2 Sirius XM Radio $500.0 4.625% Senior Notes B1 / BB 10 NC5 100.000% 4.625% 4.625% GCP Media jpm/baml/ms/barc/citi/db (books)5/2 Sirius XM Radio $500.0 4.250% Senior Notes B1 / BB 7 NC3 100.000% 4.250% 4.250% GCP Media jpm/baml/ms/barc/citi/db (books)5/2 United Continental $300.0 6.375% Senior Notes B2 / B 5 NCL 100.000% 6.375% 6.375% GCP Industrial jpm/ms/barc/baml/db (books)5/2 WEPA Hygieneprodukte $359.9 6.500% Senior Notes (EUR) B2 / BB- 7 NC3 100.000% 6.500% 6.500% GCP Industrial db/hsbc (books)5/3 New Look Bondco $229.4 E+625 bps Senior Sec Notes (EUR) B1 / B- 5 NC1 100.000% E+625 bps E+625 bps Refi Retail gsi/jpm/db/hsbc/lloyds/rbs (books)5/3 New Look Bondco $778.2 8.750% Senior Sec Notes (GBP) B1 / B- 5 NC2 100.000% 8.750% 8.750% Refi Retail gsi/jpm/db/hsbc/lloyds/rbs (books)5/3 New Look Bondco $250.0 8.375% Senior Sec Notes B1 / B- 5 NC2 100.000% 8.375% 8.375% Refi Retail gsi/jpm/db/hsbc/lloyds/rbs (books)5/6 NXP Semiconductor $750.0 3.750% Senior Notes B3 / B 5 NCL 100.000% 3.750% 3.750% Bond Refi Technology ms/barc/cs/kkr (books)5/6 Penn Virginia $400.0 6.500% Senior Notes B2 / B- 8 NC3 100.000% 6.500% 6.500% Bank Refi Nat Res jpm/rbc/wfs/baml/citi/pnc/strh5/6 Sonic Automotive $300.0 5.000% Senior Sub Notes B3 / BB- 10 NC5 100.000% 5.000% 5-5.125% Bond Refi Industrial baml/jpm/wfs (books)5/7 Atlas Pipeline Partners $400.0 4.750% Senior Notes B2 / B+ 8.5 NC3 100.000% 4.750% 4.750% Bank Refi Nat Res citi/wfs/baml/db/jpm/strh (books)5/7 General Motors Financial $750.0 4.250% Senior Notes Ba3 / BB- 10 NCL 100.000% 4.250% 4.250% Corp M&A Industrial db/barc/gs/rbc/rbs (books)5/7 General Motors Financial $1,000.0 2.750% Senior Notes Ba3 / BB- 3 NCL 100.000% 2.750% 2.750% Corp M&A Industrial db/barc/gs/rbc/rbs (books)5/7 General Motors Financial $750.0 3.250% Senior Notes Ba3 / BB- 5 NCL 100.000% 3.250% 3.250% Corp M&A Industrial db/barc/gs/rbc/rbs (books)5/7 iStar Financial $265.0 3.875% Senior Notes B3 / B+ 3 NCL 100.000% 3.875% 3.875% Bond Refi Real Estate baml/barc/jpm (books)5/7 iStar Financial $300.0 4.875% Senior Notes B3 / B+ 5 NC3 100.000% 4.875% 0.000% Bond Refi Real Estate baml/barc/jpm (books)5/7 Safway Group $560.0 7.000% Senior Sec Notes (2nd Lien) B3 / B 5 NC2 100.000% 7.000% 7.250% Refi Industrial gs/wfs/ms/barc/laz (books)5/7 Seven Generations Energy $400.0 8.250% Senior Notes B3 / CCC 7 NC3 100.000% 8.250% 8.500% GCP Nat Res cs/rbc (books)5/8 BOE Intermediate Holding $282.2 9.000% Senior PIK Toggle Notes Caa2 / CCC+ 4.5 NC1 99.000% 10.035% 9.750% Dividend Industrial baml/gs/db/jpm (books)5/8 Brunswick $150.0 4.625% Senior Notes Ba3 / BB 8 NC3 100.000% 4.625% 4.750% Bond Refi Consumer jpm/baml (books)5/8 Cash America International $300.0 5.750% Senior Notes NR / NR 5 NCL 100.000% 5.750% 5.750% Bank Refi Financial jeff/jmp (books)5/8 CHC Helicopter $300.0 9.375% Senior Notes Caa1 / B- 8 NC3 100.000% 9.375% 9.500% Bank Refi Transportation ms/hsbc/rbc/ubs (books)5/8 Commercial Metals $330.0 4.875% Senior Notes Ba2 / BB+ 10 NCL 100.000% 4.875% 4.875% Bond Refi Industrial citi/db/baml/rbs/wfs (books)5/8 ION Geophysical $175.0 8.125% Senior Sec Notes (2nd Lien) B3 / B+ 5 NC2 100.000% 8.125% 8-8.25% Refi Nat Res citi/wfs (books)5/8 Iracore $125.0 9.500% Senior Sec Notes B3 / B 5 NC2.5 100.000% 9.500% 9.5-9.75% LBO Chemicals jeff (sole)5/8 LBC Tank Terminals $350.0 6.875% Senior Notes B3 / B 10 NC5 100.000% 6.875% 6.875% Bank Refi Industrial rbc/bnpp/ca/cnb/ing (books)5/8 Northern Oil and Gas $210.5 8.000% Senior Notes (add-on) Caa1 / B- 7 NC3 105.250% 6.754% 105-105.25 px Bank Refi Nat Res rbc/bmo/strh (books)5/8 Seminole Hard Rock Entertainment $350.0 5.875% Senior Notes B2 / BB- 8 NC3 100.000% 5.875% 6-6.25% Bond Refi Gaming/Leisure baml/cs (books)5/8 Sisal $359.7 7.250% Senior Sec Notes (EUR) B1 / B 4 NC1.5 100.000% 7.250% 7.250% Refi Gaming/Leisure db/imi/ca/miz/rbs/uni (books)5/8 Toll Brothers Finance $103.0 4.375% Senior Notes (add-on) Ba1 / BB+ 10 NCL 102.983% 4.000% 4.000% GCP Real Estate citi/db/rbs/strh (books)5/8 Tops Holding II Corp $148.5 8.750% Senior PIK Toggle Notes Caa2 / CCC+ 5 NC2 99.000% 8.990% 8.75-9% Dividend Retail baml/ms (books)5/9 Ball Corp $1,000.0 4.000% Senior Notes Ba1 / BB+ 10.5 NCL 100.000% 4.000% 4.125% Bond Refi Consumer db/baml/gs/barc/wfs/rbs/key/jpm (books)5/9 Claire's Stores $320.0 7.750% Senior Notes Caa2 / CCC 7 NC3 100.000% 7.750% 7.75-8% Bond Refi Retail gs/cs/jpm/rbc/apollo (books)5/9 Eircom $592.8 9.250% Senior Notes (EUR) Caa1 / B 7 NC3 100.000% 9.250% 9.250% GCP Telecom gsi/jpm/db/bnpp/baml/ms (books)5/9 First Quality Finance $600.0 4.625% Senior Notes B2 / BB- 8 NC3 100.000% 4.625% 4.750% Bank Refi Consumer wfs/jpm/baml/rbs/strh (books)5/9 Harron Communications $73.3 9.125% Senior Notes (add-on) Caa1 / B- 7 NC3 112.750% 5.375% 0.000% Repurch Stock Media strh (sole)5/9 Targa Resource Partners LP $625.0 4.250% Senior Notes Ba3 / BB 10.5 NC5 100.000% 4.250% 4.250% Bank Refi Nat Res wfs/barc/db/jpm/rbc (books)
5/10 Gastar Exploration $200.0 8.625% Senior Notes Caa2 / NR 5 NC2 100.000% 8.625% 8.750% Corp M&A Nat Res imp (sole)5/10 Gastar Exploration $200.0 8.625% Senior Notes Caa2 / NR 5 NC2 100.000% 8.625% 8.750% Corp M&A Nat Res imp (sole)5/13 Alere $425.0 6.500% Senior Sub Notes Caa1 / CCC+ 7 NC3 100.000% 6.500% 6.5-6.75% Bond Refi Healthcare gs/jeff/cs (books)5/13 Barminco $485.0 9.000% Senior Notes B1 / B- 5 NCL 100.000% 9.000% 9-9.25% Refi Nat Res jpm/gs/hsbc (books)5/13 Cequel Communications Holdings $750.0 5.125% Senior Notes B3 / B- 8.5 NC3 100.000% 5.125% 5-5.25% Bond Refi Telecom cs/gs/jpm/rbc/strh (books)5/13 Cooper-Standard Holdings $25.3 7.375% Senior PIK Toggle Notes (add-on)Caa1 / B 5 NC1 101.000% 7.126% 7.375% GCP Industrial db/baml/jpm/ubs (books)5/13 Frigoglass $324.4 8.250% Senior Notes B1 / BB- 5 NC2 100.000% 8.250% 8.25-8.5% Refi Industrial citi/hsbc (books)5/13 Select Medical $600.0 6.375% Senior Notes B3 / B- 8 NC3 100.000% 6.375% 6.500% Bank Refi Healthcare jpm/gs/baml/ms/rbc/wfs (books)
Leveraged Capital Markets Update
![Page 15: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/15.jpg)
15
Week ending October 11, 2013
YTD HIGH YIELD DEALS (Continued)
YTD High Yield Transactions Date Issuer Proceeds Coupon Security Ratings Structure Price Yield Price Talk UOP Industry Underwriters1/0 0 (USD $mm) 0.000% 0 / 0.000% 0.000% 0.000% 0 0 0
5/14 Earthlink $300.0 7.375% Senior Sec Notes Ba3 / B+ 7 NC3 100.000% 7.375% 7.25-7.5% Bond Refi Telecom cs/db/jeff (books)5/14 Italcementi Finance $210.7 6.125% Senior Notes (EUR) (add-on) Ba2 / BB+ 5 NCL 108.261% 4.169% 0.000% GCP Industrial imi/bnpp/ca cib/natx/uni (books)5/14 The AES Corporation $255.0 4.875% Senior Notes (add-on) Ba3 / BB- 10 NC5 102.000% 4.622% 102 px Bond Refi Power ms (sole)5/15 Amkor Technology $231.8 6.375% Senior Notes (add-on) B2 / BB 9.5 NC3.5 103.000% 5.951% 103 px GCP Technology db/cs (books)5/15 Dish DBS Corp $1,250.0 5.000% Senior Notes Ba3 / BB- 4 NCL 100.000% 5.000% 5.000% Corp M&A Media barc/jeff/mqb/rbc (books)5/15 Dish DBS Corp $1,350.0 6.250% Senior Notes Ba3 / BB- 10 NCL 100.000% 6.250% 6.250% Corp M&A Media barc/jeff/mqb/rbc (books)5/15 Dynegy $500.0 5.875% Senior Notes B3 / B+ 10 NC5 100.000% 5.875% 6.000% Bank Refi Power ms/cs/barc/db/gs/jpm/baml/rbc/ubs (books)5/15 First Data $750.0 11.750% Senior Sub Notes Caa2 / CCC+ 8 NC3 100.000% 11.750% 11.750% Bond Refi Technology citi/db/baml (books)5/15 Harland Clarke $54.5 9.750% Senior Notes (add-on) B1 / B+ 5.25 NC2.25 109.000% 7.220% 0.000% Bond Refi Financial cs (sole)5/15 Magnetation $325.0 11.000% Senior Notes B3 / B- 5 NCL 100.000% 11.000% 11.000% Refi Industrial jpm/jeff/db (books)5/15 Seagate HD $1,000.0 4.750% Senior Notes Ba1 / BB+ 10 NCL 100.000% 4.750% 4.750% Bond Refi Technology ms/baml/bnpp (books)5/15 SM Energy $500.0 5.000% Senior Notes Ba3 / BB 10.5 NC5 100.000% 5.000% 5.000% Bank Refi Nat Res baml/wfs/jpm (books)5/15 Tenet Healthcare $1,050.0 4.375% Senior Sec Notes Ba3 / B+ 8.5 NCL 100.000% 4.375% 4.25-4.5% Bond Refi Healthcare barc/baml/citi/wfs (books)5/16 Bon-Ton Department Stores $350.0 8.000% Senior Sec Notes (2nd Lien) Caa1 / B- 8 NC3 100.000% 8.000% 8-8.25% Bond Refi Retail baml/cs/gs (books)5/16 Builders Firstsource $350.0 7.625% Senior Sec Notes Caa2 / CCC 8 NC3 100.000% 7.625% 7.750% Bond Refi Industrial cs/citi/strh (books)5/16 Freescale Semiconductor $500.0 5.000% Senior Sec Notes B1 / B 8 NC3 100.000% 5.000% 4.875-5% Bond Refi Technology cs/barc/citi/db/gs/jpm (books)5/16 Jefferies LoanCore $300.0 6.875% Senior Notes B2 / B 7 NC3 100.000% 6.875% 7.000% GCP Financial jeff (sole)5/16 Neenah Paper $175.0 5.250% Senior Notes Ba3 / BB- 8 NC3 100.000% 5.250% 5.25-5.5% Bond Refi Industrial gs/cs/jpm (books)5/16 NII International Telecom $700.0 7.875% Senior Notes B2 / B- 6.25 NC3.75 100.000% 7.875% 8.000% Bank Refi Telecom jpm/gs (books)5/16 Phoenix Pharmahandel $383.5 3.125% Senior Notes (EUR) NR / BB 7 NCL 99.229% 3.250% 3.25-3.5% GCP Healthcare commerz/ca/helaba/hsbc/lbbw (books)5/16 StoneMor Partners $175.0 7.875% Senior Notes B3 / B- 8 NC3 100.000% 7.875% 8-8.25% Bond Refi Industrial baml (sole)5/16 Sugarhouse $240.0 6.375% Senior Sec Notes (2nd Lien) B3 / CCC 8 NC3 100.000% 6.375% 6.500% Bond Refi Gaming/Leisure gs/wfs/baml/fitb (books)5/16 Supervalu $400.0 6.750% Senior Notes Caa1 / B- 8 NC4 100.000% 6.750% 6.5-6.75% Bond Refi Retail gs/cs (books)5/16 Univision Communications $700.0 5.125% Senior Sec Notes B2 / B+ 10 NC5 100.000% 5.125% 5-5.25% Bank Refi Media db/baml/barc/cs/jpm/wfs/natx/miz (books)5/17 Millicom Int'l Cellular $496.3 4.750% Senior Notes Ba2 / BB+ 7 NC4 99.266% 4.875% 5.375% GCP Telecom jpm/strh/bnpp (books)5/17 Murray Energy $350.0 8.625% Senior Sec Notes (2nd Lien) Caa1 / B- 8 NC3 100.000% 8.625% 8.750% Bond Refi Metals & Mining gs (sole)5/17 Pacific Drilling $750.0 5.375% Senior Notes B1 / B+ 7 NC3 100.000% 5.375% 5.500% Refi Nat Res gs/citi/db/barc (books)5/20 B&G Foods $700.0 4.625% Senior Notes B1 / B+ 8 NC3 100.000% 4.625% 4.625% Bond Refi Consumer cs/barc/rbc/baml/db (books)5/20 Concho Resources $881.9 5.500% Senior Notes (add-on) Ba3 / BB+ 10 NC4.5 103.750% 4.884% 103.5-104 px Bond Refi Nat Res baml/barc/citi/jpm/wfs (books)5/20 Memorial Production Partners $102.0 7.625% Senior Notes (add-on) Caa1 / B- 8 NC4 102.000% 7.202% 0.000% Bank Refi Nat Res wfs (sole)5/20 Sabra Health Care $200.0 5.375% Senior Notes B1 / BB- 10 NC5 100.000% 5.375% 5.500% Bond Refi Real Estate baml/barc/rbc/wfs (books)5/21 Cinemark $530.0 4.875% Senior Notes B2 / BB- 10 NC5 100.000% 4.875% 4.75-5% Bond Refi Media barc/ms/citi/db/wfs (books)5/21 GETCO Financing (KCG Holdings) $305.0 8.250% Senior Sec Notes B2 / B 5 NC2 100.000% 8.250% 8.250% Refi Financial jeff/gs (books)5/21 Intelsat (Intelsat Jackson) $2,000.0 5.500% Senior Notes B3 / B 10 NC5 100.000% 5.500% 5.25-5.5% Refi Telecom cs/barc/baml/jpm/ms/gs/db (books)5/21 Intelsat (Intelsat Jackson) $674.7 6.625% Senior Notes (add-on) Caa2 / CCC+ 9.5 NC4.5 106.250% 5.763% 106-106.5 px Refi Telecom cs/barc/baml/jpm/ms/gs/db (books)5/21 Springleaf Finance $300.0 6.000% Senior Notes Caa1 / CCC+ 7 NCL 100.000% 6.000% 6-6.25% GCP Financial baml/citi/cs (books)5/21 Springs Window Fashions $470.0 6.250% Senior Sec Notes B2 / B 8 NC3 100.000% 6.250% 6.250% LBO Industrial jpm/baml (books)5/21 US Airways $500.0 6.125% Senior Notes Caa2 / CCC+ 5 NCL 100.000% 6.125% 6.125% GCP Transportation citi/barc/gs/ms/cs (books)5/22 CommScope $550.0 6.625% Senior PIK Toggle Notes Caa1 / B- 7 NC3 100.000% 6.625% 6.750% Dividend Telecom jpm/baml/db/gs (books)5/22 Legacy Reserves $246.0 6.625% Senior Notes Caa1 / B- 8 NC4 98.405% 6.875% 6.875% GCP Nat Res wfs/baml/barc/citi/jpm/rbc/ubs (books)5/22 Provident Funding Associates $540.0 6.750% Senior Notes Ba3 / B+ 8 NC3 100.000% 6.750% 6.75-7% Bond Refi Financial baml/citi/jeff (books)5/22 Vantage Oncology $250.0 9.500% Senior Sec Notes (1st Lien) B2 / B 4 NC1 100.000% 9.500% 9.500% Refi Healthcare jeff/strh/bmo (books)5/23 Avanza Grupo $406.8 7.500% Senior Notes (EUR) B1 / B+ 5 NC2 100.000% 7.500% 7.5-7.75% Bank Refi Transportation gs/jpm/uni (books)5/23 Avanza Grupo $226.0 9.500% Senior Notes (EUR) B2 / B- 6 NC3 100.000% 9.500% 9.5-9.75% Bank Refi Transportation gs/jpm/uni (books)5/23 Century Aluminum $246.3 7.500% Senior Sec Notes B3 / B 8 NC3 98.532% 7.750% 7.25-7.5% Bond Refi Industrial cs/wfs (books)5/23 Elan Finance $850.0 6.250% Senior Notes Ba3 / B+ 8 NC3 100.000% 6.250% 6.250% GCP Healthcare ms (sole)5/23 Equiniti Bondco $322.8 6.750% Senior Secured (EUR) B3 / B 5.5 NC2 100.000% 6.750% 6.75-7% Bank Refi Financial jpm/lloyds/citi (books)5/23 Equiniti Bondco $245.4 L+550 bps Senior Secured FRN (EUR) B3 / B 5.5 NC1 100.000% L+550 bps L+550 bps Bank Refi Financial jpm/lloyds/citi (books)5/23 Midstates Petroleum $700.0 9.250% Senior Notes Caa1 / B- 8 NC3 100.000% 9.250% 8.875% Corp M&A Nat Res ms/strh/baml/rbc/sg/citi/gs/natx/rbs (books)5/23 Thomas Cook $677.9 7.750% Senior Notes (EUR) NR / B- 7 NC3 100.000% 7.750% 7.625-7.875% Refi Gaming/Leisure barc/bnpp/cs/dnb/jeff/lloyds/sg/rbs (books)5/28 APX Group $203.5 8.750% Senior Notes (add-on) Caa1 / CCC+ 7.5 NC2.5 101.750% 8.430% 101.5-102 px GCP Industrial baml/citi/db/ms/cs/macq/gs/hsbc (books)5/28 Meritor $275.0 6.750% Senior Notes B3 / B- 8 NC3 100.000% 6.750% 6.750% Bond Refi Industrial citi/jpm/baml/rbs/ubs (books)5/29 Ingles Markets $700.0 5.750% Senior Notes B1 / BB- 10 NC5 100.000% 5.750% 5.500% Bond Refi Retail baml/wfs/bb&t/strh (books)5/29 Nationstar Mortgage $300.0 6.500% Senior Notes B2 / B+ 9 NC4.5 100.000% 6.500% 6.25-6.375% GCP Financial cs/baml/barc/wfs/jpm (books)5/29 Regal Entertainment $250.0 5.750% Senior Notes B3 / B- 10 NC5 100.000% 5.750% 5.5-5.75% Bond Refi Gaming/Leisure cs/baml/barc/db/wfs (books)5/30 Goodman Networks $105.0 12.125% Senior Sec Notes (add-on) B3 / B 5 NC2 105.000% 10.810% 105 px Corp M&A Telecom jeff (sole)5/30 Ultrapetrol (Bahamas) Limited $200.0 8.875% Senior Sec Notes B3 / B- 8 NC3 100.000% 8.875% 9.000% Bond Refi Transportation baml/jeff (books)5/31 Ahern Rentals $420.0 9.500% Senior Sec Notes (2nd Lien) Caa1 / NR 5 NC2 100.000% 9.500% 9.500% Refi Industrial jeff (sole)5/31 Novalis $584.9 6.000% Senior Sec Notes (EUR) B1 / B+ 5 NC2 100.000% 6.000% 6-6.25% Bank Refi Consumer bnpp/db/gs/jpm (books)5/31 Stabilus $409.4 7.750% Senior Sec Notes (EUR) B2 / B 5 NC2 100.000% 7.750% 7.750% Bank Refi Industrial jpm (sole)5/31 William Hill $570.0 4.250% Senior Notes (GBP) Ba1 / BB+ 7 NCL 100.000% 4.250% 4.250% GCP Gaming/Leisure barc/lloyds/rbs (books)6/3 Eagle MidCo (Epicor Software) $392.0 9.000% Senior PIK Toggle Notes Caa2 / CCC+ 5 NC1.5 98.000% 9.510% 9.000% Dividend Technology baml/cs/rbc (books)6/4 Bravida Holding $292.6 E+500 bps Senior Sec Notes FRN (EUR) B2 / B 6 NC1 100.000% E+500 bps E+500-525 bps GCP Industrial db/ms/nordea (books)6/4 Bravida Holding $198.2 St+537.5 bps Senior Sec Notes FRN (SEK) B2 / B 6 NC2 100.000%St+537.5 bps St+550 bps GCP Industrial db/ms/nordea (books)6/4 Equiniti $379.9 7.125% Senior Sec Notes (GBP) B3 / B 5.5 NC2 100.000% 7.125% 7-7.25% Bank Refi Technology jpm/lloyd/citi (books)6/4 Equiniti $288.8 L+575 bps Senior Sec FRN (GBP) B3 / B 5.5 NC1 100.000% L+575 bps L+575 bps Bank Refi Technology jpm/lloyd/citi (books)6/6 Approach Resources $250.0 7.000% Senior Notes B3 / B- 8 NC3 100.000% 7.000% 6.75-7.0% Bank Refi Nat Res jpm/rbc/key (books)6/6 Bakkavor $231.1 8.750% Senior Sec Notes (GBP) B2 / B- 7 NC3 98.720% 9.000% 8.75-9.0% Bank Refi Consumer barc/baml/hsbc/mizuho/rabo/rbs (books)6/6 Hot Topic $345.2 9.250% Senior Sec Notes B2 / B 8 NC3 98.618% 9.500% 9.000% LBO Retail baml/jeff (books)6/7 Intergen $736.7 7.000% Senior Sec Notes B1 / B+ 10 NC5 98.231% 7.250% 7.250% Bond Refi Power db/barc/baml/cs/mufj/rbc (books)6/7 Intergen $262.0 7.500% Senior Sec Notes (GBP) B1 / B+ 8 NC4 98.517% 7.750% 7.750% Bond Refi Power db/barc/baml/cs/mufj/rbc (books)6/7 Jack Cooper $225.0 9.250% Senior Secured (2nd Lien) B2 / B- 7 NC3 100.000% 9.250% 8.750% Bank Refi Industrial wfs/barc (books)6/7 SemGroup $300.0 7.500% Senior Notes B3 / B+ 8 NC3 100.000% 7.500% 7.25-7.5% Corp M&A Nat Res citi/bmo/db/rbc/rbs/scotia/ubs (books)
6/10 Garda World Security $52.9 9.750% Senior Notes B2 / B 3.75 NC0.75 105.750% 7.942% 105.750% Bank Refi Financial baml/rbc/td (books)6/10 Sanchez Energy $400.0 7.750% Senior Notes Caa1 / CCC+ 8 NC4 100.000% 7.750% 7.5-7.75% Bank Refi Nat Res rbc/cs (books)6/10 SMCP $384.5 8.875% Senior Sec Notes (EUR) B3 / B 7 NC3 100.000% 8.875% 8.750% LBO Consumer cs/gs/kkr/ubs (books)6/11 GFL Environmental $196.3 7.500% Senior Notes (CAD) NR / B+ 5 NC2 100.000% 7.500% 7.500% Refi Industrial bmo/scotia (books)6/11 HudBay Minerals $153.0 9.500% Senior Notes (add-on) B3 / B- 7.25 NC3.25 102.000% 9.110% 9.000% GCP Nat Res jeff (sole)6/12 Emerald Expo $200.0 9.000% Senior Notes Caa2 / B- 8 NC3 100.000% 9.000% 8.5-8.75% LBO Media gs/baml/cs/ms/rbc/ubs (books)6/12 Quicksilver $194.0 L+575 bps Senior Sec Notes FRN (2nd Lien)B2 / CCC+ 6 NC0 97.000% L+575 bps L+575 bps Bond Refi Nat Res cs/jpm/citi/db/baml/wfs (books)6/12 Quicksilver $308.5 11.000% Senior Notes Caa2 / CCC 8 NC6 94.928% 12.000% 11.750% Bond Refi Nat Res cs/citi/db/jpm/td/ubs (books)6/12 Summit Midstream $300.0 7.500% Senior Notes B3 / B 8 NC3 100.000% 7.500% 7.5-7.75% Bank Refi Nat Res baml/db/rbc/rbs (books)6/13 Barry Callebaut $392.5 5.500% Senior Notes Ba1 / BB+ 10 NCL 98.122% 5.570% 5.5-5.75% Corp M&A Consumer cs/gs/ing/jeff/rbs/rabo/ubs (books)6/13 IronGate Energy $176.6 11.000% Senior Sec Notes NR / NR 5 NC3 98.132% 11.500% 11.500% LBO Nat Res jeff (sole)6/14 Altice $333.6 9.000% Senior Notes (EUR) B3 / B- 10 NC5 100.000% 9.000% 9-9.25% GCP Telecom gs/ms/ca-cib/cs/db (books)6/17 Asbury Automotive Group $109.8 8.375% Senior Notes (add on) B2 / B+ 7.5 NC2.5 109.750% 5.628% 109.500% Bond Refi Consumer baml/jpm (books)6/17 Service Corp Intl $425.0 5.375% Senior Notes Ba3 / BB- 8.5 NC4 100.000% 5.375% 5.25-5.75% Corp M&A Consumer jpm/baml/wfs (books)6/18 Atwood Oceanics $208.5 6.500% Senior Notes Ba3 / BB 6.5 NC2.5 104.250% 5.444% 104.000% GCP Nat Res barc/wfs/cs/dnb/gs (books)6/18 Brookfield Residential Properties $500.0 6.125% Senior Notes B2 / BB- 9 NC4 100.000% 6.125% 6.250% Refi Real Estate cs/citi/db/wfs (books)6/18 Rite Aid Corp $810.0 6.750% Senior Notes Caa2 / CCC 8 NC3 100.000% 6.750% 6.750% Bond Refi Consumer citi/baml/wfs/gs/ms (books)6/19 AK Steel Corp $32.0 8.750% Senior Sec Notes (add-on) B1 / BB- 5.5 NC2.5 106.500% 7.017% 0.000% GCP Industrial baml (sole)6/19 Interxion $432.0 6.000% Senior Sec Notes (EUR) B2 / B+ 7 NC3 100.000% 6.000% 6.000% Bond Refi Telecom barc/cs/baml/citi (books)6/19 National Financial Partners (Patriot Merger) $300.0 9.000% Senior Notes Caa2 / CCC+ 8 NC3 100.000% 9.000% 8.75-9.0% LBO Financial db/ms/ubs/cs/mcs/rbc (books)6/25 AA Group $1,026.2 9.500% Senior Notes (GBP) NR / BB 6 NC2.5 100.000% 9.500% 9.500% Refi Industrial db/rbs/barc/miz/baml/hsbc/lloyds/mufj/rbc/ubs (books)6/25 Gibson Energy $492.4 6.750% Senior Notes Ba3 / BB 8 NC3 98.476% 7.000% 7.000% Bank Refi Nat Res rbc/jpm/bmo/cibc/citi/cs/Nomura (books)6/25 Gibson Energy $242.5 7.000% Senior Notes (CAD) Ba3 / BB 7 NC3 98.633% 7.500% 7.250% Bank Refi Nat Res rbc/jpm/bmo/cibc/citi/cs (books)6/25 Transdigm $500.0 7.500% Senior Notes Caa1 / CCC+ 8 NC3 100.000% 7.500% 7.25-7.5% Dividend Industrial ubs/cs/ms/citi/barc/rbc (books)6/27 Audatex North America $850.0 6.000% Senior Notes Ba2 / BB- 8 NC4 100.000% 6.000% 6.000% Bank Refi Industrial gs (sole)6/27 Nord Anglia Education $175.7 10.250% Senior Sec Notes B3 / B 4 NC2 106.500% 7.573% 106-106.5 px Bank Refi Consumer gs/cs/hsbc (books)6/27 Valeant Pharmaceuticals $1,625.0 7.500% Senior Notes B1 / B 8 NC3 100.000% 7.500% 7.500% Corp M&A Healthcare gs/baml/barc/jpm/ms/rbc (books)6/27 Valeant Pharmaceuticals $1,600.0 6.750% Senior Notes B1 / B 5 NC2 100.000% 6.750% 6.750% Corp M&A Healthcare gs/baml/barc/jpm/ms/rbc (books)6/28 Creditcorp $163.5 12.000% Senior Sec Notes B3 / B 5 NC3 99.080% 12.250% 12.250% Bank Refi Financial jeff (sole)6/28 Hercules Offshore $400.0 8.750% Senior Notes B3 / B 8 NC4 100.000% 8.750% 8.75-9% Corp M&A Nat Res db/ubs/cs/gs/pareto (books)6/28 Petroquest $200.0 10.000% Senior Notes Caa1 / B 4 NC1 100.000% 10.000% 100-101 px GCP Nat Res jpm/wfs (books)7/9 Continental AG $948.8 3.000% Senior Notes (EUR) Ba2 / BB 5 NCL 98.950% 3.250% 3.25-3.375% Bond Refi Industrial bnpp/citi/db/ing/uni (books)7/9 Fiat Finance & Trade SA $1,086.7 6.750% Senior Notes (EUR) B1 / BB- 6 NCL 100.000% 6.750% 6.875% GCP Financial bnpp/citi/commerz/gs/natx/sg/uni (books)7/9 FTE Automotive $306.8 9.000% Senior Sec Notes (EUR) B1 / B 7 NC3 100.000% 9.000% 8.75-9% LBO Industrial ms (sole)
7/10 Unilabs MidHolding $257.8 12.000% Senior PIK Toggle Notes (2nd Lien) (EUR)Caa2 / B- 5.5 NC3 100.000% 12.000% 13.000% Refi Healthcare jpm/lloyds/nordea/seb (books)7/10 Unilabs SubHolding $448.6 8.500% Senior Sec Notes (EUR) B3 / B+ 5 NC2 98.025% 9.000% 9.000% Refi Healthcare jpm/lloyds/nordea/seb (books)7/10 Unilabs SubHolding $165.9 E+725 bps Senior Sec FRN (EUR) B3 / B+ 5 NC1 99.000% 7.470% E+725bps Refi Healthcare jpm/lloyds/nordea/seb (books)7/11 Best Buy Co $500.0 5.000% Senior Notes Baa2 / BB 5 NCL 99.997% 5.000% 5.125% GCP Retail barc/citi/jpm/rbs (books)7/11 Expro Finance Luxembourg SCA $104.5 8.500% Senior Sec Notes B1 / B 3.5 NC0.5 104.500% 6.990% 104-104.25 px GCP Nat Res gs (sole)7/11 Monitronics Intl Inc $175.0 9.125% Senior Notes Caa1 / CCC+ 6.75 NC2.75 100.000% 9.125% 100 px Corp M&A Consumer baml/cs/citi (books)7/11 Post Holidngs $370.1 7.375% Senior Notes B1 / B+ 8.5 NC3.5 105.750% 6.292% 105.5 px GCP Consumer cs/barc/jpm/bmo/gs/nom/strh/wfs (books)7/11 Quicksilver Inc $278.6 7.875% Senior Secured Notes B2 / CCC+ 5 NC2.5 99.483% 8.000% 8-8.25% Refi Consumer baml/ms/wfs (books)7/11 Quicksilver Inc $222.2 10.000% Senior Notes Caa2 / CCC 7 NC3 98.757% 10.250% 10.25-10.5% Refi Consumer baml/ms/wfs (books)7/11 Vue Emtertainment $376.2 E+525 bps Senior Sec FRN (EUR) B2 / B 7 NC1 99.500% E+525 bps E+525-550 bps LBO Media gs/ms/lloyds (books)7/11 Vue Emtertainment $453.6 7.875% Senior Sec Notes (GBP) B2 / B 7 NC3 100.000% 7.875% 8-8.25% LBO Media gs/ms/lloyds (books)7/12 American Equity Investment $400.0 6.625% Senior Notes / BB+ 8 NC4 100.000% 6.625% 6.5-6.75% Bond Refi Financial jpm (sole)7/12 Findus $398.2 9.125% Senior Secured Notes (EUR) B3 / B- 5 NC2 100.000% 9.125% 9.250% Bank Refi Consumer jpm/gs/nordea/sg (books)7/12 Findus $226.8 9.500% Senior Secured Notes (GBP) B3 / B- 5 NC2 100.000% 9.500% 9.500% Bank Refi Consumer jpm/gs/nordea/sg (books)7/15 Ally Financial $1,000.0 3.500% Senior Notes B1 / B+ 3 NCL 100.000% 3.500% 3.5-3.625% Bond Refi Financial barc/citi/gs/ms (books)7/15 Ally Financial $375.0 L+268 bps Senior FRN B1 / B+ 3 NCL 100.000% L+268 bps L+325-326.5 bps Bond Refi Financial barc/citi/gs/ms (books)7/15 Magnachip Semiconductor $223.9 6.625% Senior Notes B1 / BB- 8 NC4 99.500% 6.707% 6.750% Bond Refi Technology barc/ms (books)7/15 RKI Exploration and Production $350.0 8.500% Senior Notes B3 / B- 8 NC3 100.000% 8.500% 8.500% Bank Refi Nat Res citi/jpm/ubs (books)7/16 NOVA Chemicals Corporation $500.0 5.250% Senior Notes Ba2 / BB+ 10 NC5 100.000% 5.250% 5.25-5.5% Bond Refi Chemicals barc/td/hsbc/rbc/scotia (books)7/17 Chassix, Inc $350.0 9.250% Senior Sec Notes B3 / B 5 NC2 100.000% 9.250% 9.25-9.5% Bank Refi Industrial baml/bmo/pnc/rbc (books)7/17 Marlin Intermediate $365.1 10.500% Senior Sec Notes (GBP) NR / B 7 NC3 100.000% 10.500% 0.000% Refi Financial jpm/investec (books)
Leveraged Capital Markets Update
![Page 16: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/16.jpg)
16
Week ending October 11, 2013
YTD HIGH YIELD DEALS (Continued)
YTD High Yield Transactions
Date Issuer Proceeds Coupon Security Ratings Structure Price Yield Price Talk UOP Industry Underwriters1/0 0(Formula - Do Not Edit) 0.000% 0 / 0.000% 0.000% 0.000% 0 0 0
7/17 Mercer Intl Inc $52.3 9.500% Senior Notes B3 / B 4.5 NC1.5 104.500% 7.941% 104.25-104.5 px GCP Industrial cs (sole)7/17 Nationstar Mortgage LLC $250.0 6.500% Senior Notes B2 / B+ 5 NC2 100.000% 6.500% 6.500% GCP Financial cs/baml/barc/wfs/jpm (books) 7/17 TMX Finance $525.0 8.500% Senior Sec Notes B3 / B+ 5 NC2 100.000% 8.500% 8.5-8.75% Refi Financial jeff/ms (books)7/18 Chemtura $450.0 5.750% Senior Notes B1 / BB- 8 NC4 100.000% 5.750% 5.75-6% Bond Refi Chemicals citi/baml/wfs/barc/gs (books)7/18 Harbinger Group Inc $228.4 7.875% Senior Sec Notes B3 / B 6 NC2.5 101.500% 7.474% 101.500% GCP Financial cs (sole)7/18 Schaeffler Holding $994.7 6.875% Senior PIK Toggle Notes B2 / B- 5 NC1 99.468% 7.000% 7-7.25% Refi Industrial jpm/db/bnpp/citi/commerz/hsbc/uni (books)7/18 Schaeffler Holding $1,032.6 6.875% Senior PIK Toggle Notes B2 / B- 5 NC1 98.428% 7.250% 7.25-7.5% Refi Industrial db/jpm/bnpp/citi/commerz/hsbc/uni (books)7/19 MedImpact $168.0 10.500% Senior Sec Notes Caa2 / B- 4.5 NC1.5 105.000% 8.809% 0.000% Corp M&A Healthcare cs (sole)7/19 Smithfield Foods $500.0 5.250% Senior Notes B2 / BB- 5 NC2 100.000% 5.250% 5.375% Corp M&A Consumer ms (sole)7/19 Smithfield Foods $400.0 5.875% Senior Notes B2 / BB- 8 NC3 100.000% 5.875% 6.000% Corp M&A Consumer ms (sole)7/22 Gardner Denver $575.0 6.875% Senior Notes Caa1 / B- 8 NC3 100.000% 6.875% 7-7.25% LBO Industrial db/citi/barc/ubs/miz/rbc/mqb/hsbc (books)7/22 Maisons du Monde $428.7 9.000% Senior Sec Notes (EUR) B3 / B 7 NC3 100.000% 9.000% 0.000% LBO Consumer cs/commerz/natixis (books)7/22 Multiplan $750.0 8.375% Senior PIK Toggle Notes Caa1 / CCC+ 5 NC1 100.000% 8.375% 8.500% Dividend Healthcare barc/baml/gs (books)7/23 Carolina Beverage $130.0 10.625% Senior Sec Notes (2nd Lien) Caa2 / B- 5 NC2 100.000% 10.625% 10.625-10.75% Refi Consumer imperial (sole)7/23 Kodiak Oil & Gas $400.0 5.500% Senior Notes B3 / B 8.5 NC4 100.000% 5.500% 0.000% Refi Nat Res cs/bmo/key/rbc/scotia/wfs (books)7/23 Midcontinent Communications $250.0 6.250% Senior Notes B3 / B- 8 NC3 100.000% 6.250% 6.250% Refi Media strh/rbc/wfs/baml (books)7/23 RKI Exploration & Production $50.3 8.500% Senior Notes B3 / B- 8 NC3 100.500% 8.390% 0.000% Bank Refi Nat Res citi/jpm/ubs (books)7/23 Salini Construttori Spa $526.1 6.125% Senior Notes (EUR) / BB- 5 NCL 99.477% 6.250% 6.500% Refi Industrial imi/natixis/uni (books)7/24 Gannett Co $591.4 5.125% Senior Notes Ba1 / BB- 7 NC3 98.566% 5.375% 5.500% Refi Media jpm/citi/barc/btmu/miz/strh/ubs/pnc/ftib (books)7/24 Gibson Brands $225.0 8.875% Senior Sec Notes B2 / B 5 NC2.5 100.000% 8.875% 9.000% Refi Consumer jeff/wfs (books)7/24 Michaels Stores $800.0 7.500% Senior PIK Toggle Notes Caa1 / CCC+ 5 NC1 100.000% 7.500% 7.5-7.75% Dividend Retail jpm/gs/db/wfs/barc/ms/baml/cs7/24 Travelex $230.4 6.509% Senior Sec FRN (GBP) B2 / B 5 NC1 100.000% 6.509% L+600 bps Bank Refi Financial baml/db/barc/lloyds/ubs (books)7/24 Travelex $307.2 8.000% Senior Sec Notes (GBP) B2 / B 5 NC2 100.000% 8.000% 8-8.25% Bank Refi Financial baml/db/barc/lloyds/ubs (books)7/25 Atlas Resources Partners $248.2 9.250% Senior Notes Caa1 / B- 8 NC4 99.297% 9.375% 9.250% M&A Nat Res db/wfs/citi/jpm/rbc (books)7/25 CIT Group Holdings $742.7 5.000% Senior Notes Ba3 / BB 10 NCL 99.031% 5.125% 5.125-5.25% GCP Financial barc/cs/jpm/ms (books)7/25 Faenza GmbH (CeramTec GmbH) $407.2 8.250% Senior Notes (EUR) Caa2 / CCC+ 8 NC3 100.000% 8.250% 8.25-8.5% LBO Industrial db/rbc/ubs (books)7/25 Gamenet SpA $265.5 7.250% Senior Sec Notes (EUR) B1 / B+ 5 NC2 100.000% 7.250% 7.250% Refi Gaming/Leisure ubs/cs/uni/imi (books)7/25 Parker Drilling $225.0 7.500% Senior Notes B1 / B+ 7 NC3 100.000% 7.500% 7.5-7.75% Refi Nat Res gs/wfs/baml/rbs (books)7/25 Picard Groupe $637.3 E+425 bps Senior Sec FRN (EUR) Ba3 / BB- 6 NC1 100.000% 4.476% E+425-450 bps Refi Consumer cs/bnpp/cag/gs/ms/natixis/socgen (books)7/25 Woodside Homes $220.0 6.750% Senior Notes Caa1 / B 8.5 NC3 100.000% 6.750% 6.750% Bond Refi Real Estate cs/moelis/citi/wfc (books)7/26 Alliance One Intl $720.3 9.875% Senior Sec Notes (2nd Lien) Caa1 / B- 8 NC4 98.000% 10.250% 9.875% Bond Refi Industrial db/cs/icbc/ing/natixis/scb (books)7/26 Alliance One Intl $720.3 9.875% Senior Sec Notes (2nd Lien) Caa1 / B- 8 NC4 98.000% 10.250% 9.875% Bond Refi Industrial db/cs/icbc/ing/natixis/scb (books)7/26 Brightstar Corp $247.4 7.250% Senior Notes B1 / B+ 5 NC2 98.973% 7.500% 7.5-7.75% Refi Technology jpm/gs/jeff (books)7/26 Brightstar Corp $247.4 7.250% Senior Notes B1 / B+ 5 NC2 98.973% 7.500% 7.5-7.75% Refi Tecnology jpm/gs/jeff (books)7/26 Manutencoop Facility Management Spa $557.1 8.500% Senior Sec Notes B2 / B+ 7 NC3 98.713% 8.750% 8.25-8.5% Refi Consumer jpm/uni/imi/mediobanca (books)7/26 Manutencoop Facility Management Spa $557.1 8.500% Senior Sec Notes B2 / B+ 7 NC3 98.713% 8.750% 8.25-8.5% Refi Consumer jpm/uni/imi/mediobanca (books)7/29 Party City $297.0 8.750% Senior PIK Toggle Notes Caa2 / CCC 6 NC1.5 99.000% 8.966% 9.000% Dividend Retail baml/db/barc/gs/ms/moelis (books)7/29 Sirius XM Radio $600.0 5.750% Senior Notes B1 / BB 8 NC3 100.000% 5.750% 5.375-5.5% Bond Refi Media baml/db/jpm/citi/ca/ms/strh (books)7/29 Tesoro Logisitcs LP $550.0 6.125% Senior Notes B1 / BB- 8 NC3 100.000% 6.125% 6.250% Bank Refi Nat Res baml/wfs/db/ms/ubs (books)7/30 Aguila 3 SA (Swissport) $400.7 7.875% Senior Sec Notes B2 / B 4.5 NC0.5 102.750% 7.149% 1025-103 px Corp M&A Industrial citi/bnpp/socgen/ms/ubs (books)7/30 Dana Holding Corp $450.0 5.375% Senior Notes B2 / B 8 NC3 100.000% 5.375% 5.500% Repurch Stock Industrial citi/baml/barc/db/jpm/ubs/wfs (books)7/30 Dana Holding Corp $300.0 6.000% Senior Notes B2 / B 10 NC5 100.000% 6.000% 6.000% Repurch Stock Industrial citi/baml/barc/db/jpm/ubs/wfs (books)7/30 KeHe Distributors $200.0 7.625% Senior Secured Notes (2nd Lien) B3 / B 8 NC4 100.000% 7.625% 7.750% Refi Consumer bmo/jpm (books)7/30 National Amusements $300.0 5.000% Senior Sec Notes B1 / BB 5 NC2 100.000% 5.000% 5.0-5.125% Bond Refi Media barc/wfs (books)7/30 Pinnacle Entertainment $850.0 6.375% Senior Notes B2 / B 8 NC3 100.000% 6.375% 6.25-6.5% Corp M&A Gaming/Leisure jpm/gs/baml/db/wfs/ca/barc/ubs (books)7/30 S&B Minerals Finance $364.7 9.250% Senior Sec Notes B3 / B+ 7 NC3 100.000% 9.250% 0.000% Refi Industrial cs/bnpp/hsbc/ubs (books)7/30 Stearns Holdings $250.0 9.375% Senior Sec Notes B2 / B+ 7 NC3 100.000% 9.375% 9.500% Refi Financial jeff (sole)7/31 Alcatel-Lucent $500.0 8.875% Senior Notes B3 / CCC+ 6.5 NC3 100.000% 8.875% 9.000% Bank Refi Technology ms/db/cs/citi/gs/uni (books)7/31 DR Horton $400.0 5.750% Senior Notes Ba2 / BB 10 NCL 100.000% 5.750% 5.625-5.75% GCP Real Estate db/citi/jpm/rbs/wfs (books)7/31 Flexi-Van Leasing $248.7 7.875% Senior Notes B3 / BB- 5 NC2.5 99.488% 8.000% 7.75-8% Refi Transportation baml/wfs (books)7/31 LSB Industries $400.0 7.750% Senior Sec Notes Ba3 / B+ 6 NC3 100.000% 7.750% 7.750% Bank Refi Industrial wfs/baml/jpm (books)7/31 WCI Communities $200.0 6.875% Senior Notes B3 / B 8 NC3 100.000% 6.875% 6.750% Bond Refi Real Estate citi/jpm/cs/baml (books)8/1 Healthcare Technology Intermediate $750.0 7.375% Senior PIK Toggle Notes Caa1 / B- 5 NC1 100.000% 7.375% 7.500% Dividend Healthcare gs/baml/barc/db/hsbc/jpm/wfs (books)8/1 Standard Pacific $300.0 6.250% Senior Notes B2 / B+ 8 NCL 100.000% 6.250% 6.125-6.25% GCP Real Estate citi/cs (books)8/2 Bankrate Inc $296.8 6.500% Senior Notes B2 / BB- 5 NC2 98.938% 6.375% 6.500% Bond Refi Financial gs/rbc (books)8/2 Intralot Finance $427.6 9.750% Senior Notes (EUR) B1 / B+ 5 NC3 99.027% 10.000% 10-10.25% Bond Refi Gaming/Leisure citi/hsbc/barc/sg (books)8/5 Playa Resorts $300.0 8.000% Senior Notes Caa1 / B 7 NC3 100.000% 8.000% 8-8.25% M&A Gaming/Leisure baml/db (books)8/5 RCN Telecom Services $200.0 8.500% Senior Notes Caa1 / CCC+ 7 NC3 100.000% 8.500% 8.25-8.5% Dividend Media cs/strh (books)8/6 ConvaTech Finance Intl SA $891.0 8.250% Senior PIK Toggle Notes Caa1 / B- 5.4 NC1 99.000% 8.486% 8.25% at 99 px Dividend Healthcare gs/jpm/baml/db/ms (books)8/6 Endeavor Energy $250.0 7.000% Senior Notes B3 / B+ 8 NC3 100.000% 7.000% 6.50-6.75% Refi Nat Res cs/wfs/ca/mus/usb/rbs (books)8/6 Mohegan Tribal Gaming $500.0 9.750% Senior Notes Caa1 / CCC 8 NC3 100.000% 9.750% 9.750% Bond Refi Gaming/Leisure cs/rbs/gs/ca/strh/jeff (books)8/6 PHH Corporation $350.0 6.375% Senior Notes Ba2 / BB- 8 NC4 100.000% 6.375% 6.375% Bond Refi Financial jpm/rbs/baml/barc/citi/db/rbc/wfs (books)8/7 BMC Software $1,625.0 8.125% Senior Notes Caa1 / B- 8 NC3 100.000% 8.125% 8-8.25% LBO Technology cs/rbc/barc/db/gs/citi/jeff/miz (books)8/7 DreamWorks Animation $300.0 6.875% Senior Notes Ba3 / B 7 NC3 100.000% 6.875% 7.000% Bank Refi Media baml/jpm/wfs/strh (books)8/7 MISA Investments Lts (Viking Cruises) $173.3 8.625% Senior PIK Toggle Notes B3 / B- 5 NC1 99.000% 8.875% 8.625% at 99 px Dividend Gaming/Leisure wfs/cs/baml (books)8/7 Southern States Cooperative Inc $126.1 10.000% Senior Notes (2nd Lien) B2 / B 8 NC4 97.000% 10.565% 10.250% 0 Consumer bmo (sole)8/7 William Carter $400.0 5.250% Senior Notes Ba2 / BB+ 8 NC4 100.000% 5.250% 5.25-5.5% Repurch Stock Consumer baml/jpm (books)8/8 Halcon Resources $400.0 9.250% Senior Notes Caa1 / CCC+ 8.5 NC4 100.000% 9.250% 9.250% Bank Refi Nat Res bmo/barc/jpm/wfs (books)8/8 Iron Mountain $600.0 6.000% Senior Notes Ba1 / BB- 10 NC5 100.000% 6.000% 5.75-6% Bond Refi Consumer wfs/baml/jpm/ca/hsbc/ms/rbs (books)8/8 Iron Mountain $193.6 6.125% Senior Notes (CAD) Ba1 / BB- 8 NC4 100.000% 6.125% 6-6.25% Bond Refi Consumer scotia/baml/jpm/barc/td (books)8/8 Live Nation Entertainment $209.0 7.000% Senior Notes B3 / B+ 7 NC3 104.500% 5.954% 104-105 px Refi Consumer jpm/baml/scotia/gs/hsbc/ms/rbs/wfs (books)8/8 Multi Packaging Solutions $200.0 8.500% Senior Notes Caa1 / CCC+ 8 NC3 100.000% 8.500% 8.5-8.75 LBO Industrial baml/barc/citi/ubs8/9 Denver Parent Corp (Venoco) $248.1 12.250% Senior PIK Toggle Notes Caa3 / CCC 5 NC2 97.304% 13.000% 13.000% Bond Refi Financial citi/baml (books)8/9 Murphy Oil $500.0 6.000% Senior Notes Ba3 / BB 10 NC5 100.000% 6.000% 6-6.25% Dividend Nat Res jpm/stephens (books)
8/12 Boise Cascade $51.8 6.375% Senior Notes B2 / B+ 7 NC2 103.500% 5.589% 103.50 px GCP Consumer wfs/baml/jpm/usb (books)8/12 R.R. Donelley & Sons $400.0 7.000% Senior Notes Ba3 / BB 8.5 NCL 100.000% 7.000% 7-7.25% Bank Refi Consumer baml/citi/jpm/usb (books)8/12 TW Telecom Holdings $350.0 6.375% Senior Notes B1 / B+ 10 NC5 100.000% 6.375% 6.375% Bond Refi Technology cs/ms/wfs (books)8/12 TW Telecom Holdings $433.1 5.375% Senior Notes B1 / B+ 9 NC4 96.250% 5.913% 96-96.5 px Bond Refi Technology cs/ms/wfs (books)8/12 Windstream $517.5 7.750% Senior Notes B1 / B 8 NC3 103.500% 7.170% 103.5 px Bond Refi Telecom gs/jpm/bnp/citi/rbc/rbs (books)8/14 Access Midstream Partners $406.0 5.875% Senior Notes Ba3 / BB 7.75 NC1.75 101.500% 5.503% 101.5 px GCP Nat Res barc/bbva/citi/rbs/wfs8/14 Cogent Communications $70.9 8.375% Senior Sec Notes B2 / B+ 4.5 NC1.5 109.000% 6.055% 0.000% GCP Telecom db/citi/jeff/ms (books)8/14 DS Services $340.7 10.000% Senior Sec Notes (2nd Lien) B3 / B- 8 NC4 97.337% 10.500% 10-10.5% LBO Consumer cs/barc/jeff/bmo (books)8/14 Flexi-Van Leasing $15.0 7.875% Senior Notes B3 / BB- 5 NC2.5 100.000% 7.875% 0.000% Dividend Financial baml (sole)8/14 NuStar Logisitics $300.0 6.750% Senior Notes Ba1 / BB+ 7.5 NCL 100.000% 6.750% 6.5-6.75% GCP Nat Res jpm/miz/strh (books)8/14 T-Mobile USA $500.0 5.252% Senior Notes Ba3 / BB 5 NC2 100.000% 5.250% 5.375% GCP Telecom db (sole)8/15 ACI Worldwide $300.0 6.375% Senior Notes B2 / BB- 7 NC3 100.000% 6.375% 6.25-6.5% Bank Refi Technology wfs/baml (books)8/15 Medical Properties Trust $153.0 6.375% Senior Notes Ba1 / BB 8.5 NC3.5 102.000% 5.998% 102-103 px Corp M&A Healthcare jpm/baml (books)8/15 Shingle Springs $260.0 9.750% Senior Notes B3 / CCC+ 8 NC4 100.000% 9.750% 9.750% Refi Gaming/Leisure baml (sole)8/16 Foresight Energy $595.7 7.875% Senior Notes Caa1 / CCC+ 8 NC3 99.276% 8.000% 8.000% Dividend Nat Res ms/citi/barc/db/gs/jpm/ubs (books)9/4 Ally Financial $743.4 4.750% Senior Notes B1 / B+ 5 NCL 99.123% 4.950% 4.95-5% Refi Financial baml/citi/db/rbc (books)9/4 Regency Energy Partners $400.0 5.750% Senior Notes B1 / BB 7 NCL 100.000% 5.750% 5.625% Bank Refi Nat Res rbs/bbva/comer/db/ms/nat/rbc/scotia (books)9/4 Silgan Holdings Inc $300.0 5.500% Senior Notes Ba2 / BB- 8.42 NC4 100.000% 5.500% 5.500% Bank Refi Industrial baml/wfs/citi/gs/db (books)9/4 Sprint Corp $2,250.0 7.250% Senior Notes B1 / BB- 8 NCL 100.000% 7.250% 7.250% GCP Telecom jpm/db/baml/citi/ca/cs/gs/rbs (books)9/4 Sprint Corp $4,250.0 7.875% Senior Notes B1 / BB- 10 NCL 100.000% 7.875% 7.875% GCP Telecom jpm/db/baml/citi/ca/cs/gs/rbs (books)9/6 EDP Finance BDV $981.1 4.875% Senior Notes (EUR) Ba1 / BB+ 7 NCL 99.276% 5.000% 5.0-5.125% GCP Power besi/bpi/citi/ing/mbcp/rbs/santander/sgicb (books)9/9 Whiting Petroleum $1,100.0 5.000% Senior Notes Ba2 / BB+ 5.5 NCL 100.000% 5.000% 5.000% Refi Nat Res wfs/jpm/baml (books)9/9 Whiting Petroleum $800.0 5.750% Senior Notes Ba2 / BB+ 7.5 NCL 100.000% 5.750% 5.750% Refi Nat Res wfs/jpm/baml (books)
9/10 NXP $500.0 3.500% Senior Notes B3 / B+ 3 NCL 100.000% 3.500% 3.500% Bond Refi Technology barc/baml/gs/kkr (books)9/10 Oasis Petroleum $1,000.0 6.875% Senior Notes B3 / B 8.5 NC4 100.000% 6.875% 6.75-7.00% GCP Nat Res wfs/citi/jpm/rbc (books)9/10 Peugeot SA $790.7 6.500% Senior Notes (EUR) B1 / B+ 5.5 NCL 99.366% 6.625% 0.000% GCP Industrial bnpp/ca/hsbc/nat/sg (books)9/11 Ancestry.com Holdings $297.0 9.625% Senior PIK Toggle Notes Caa1 / CCC+ 5 NC2 99.000% 9.875% 9.75-10% Dividend Technology ms/cs/db/gs/rbc (books)9/11 K. Hovnanian Enterprised Inc $41.6 6.250% Senior Notes Caa2 / CCC 3.5 NCL 100.000% 6.250% 0.000% Bond Refi Real Estate cs (sole)9/11 Polish Television Holding BV $399.0 11.000% Senior PIK Toggle Notes (EUR) NR / B- 7 NC3 100.000% 11.000% 11-11.25% Bond Refi Media jpm/db/nom (books)9/11 Renault $794.8 3.625% Senior Notes Ba1 / BB+ 5 NCL 99.587% 3.717% 0.000% GCP Industrial bbva/bnpp/miz/nat (books)9/12 Activision Blizzard $750.0 6.125% Senior Notes Ba2 / BB+ 10 NC5 100.000% 6.125% 6.25-6.5% Repurch Stock Technology jpm/baml (books)9/12 Activision Blizzard $1,500.0 5.625% Senior Notes Ba2 / BB+ 8 NC3 100.000% 5.625% 5.75-6% Repurch Stock Technology jpm/baml (books)9/12 Commerzbank AG $1,000.0 8.125% Senior Sub Notes Ba2 / B+ 10 NCL 100.000% 8.125% 8.250% GCP Financial baml/cmzb/barc/cs/jpm (books)9/12 Diamondback Energy $450.0 7.625% Senior Notes Caa1 / CCC+ 8 NC3 100.000% 7.625% 7.5-7.75% Corp M&A Nat Res cs/wfs (books)9/12 DuPont Fabros Technology $600.0 5.870% Senior Notes Ba1 / BB 8 NC3 100.000% 5.870% 6.000% Bond Refi Technology gs/rbc/strh/cs/key (books)9/13 Building Materials Holding Corp $248.8 9.000% Senior Sec Notes Caa1 / B- 5 NC2 99.511% 9.125% 9.000% Bank Refi Industrial jpm/moelis (books)9/13 JBS USA $497.5 7.250% Senior Notes Ba3 / BB 7.75 NC1.75 99.500% 7.330% 99-100 px Bond Refi Consumer jpm/baml/wfs/rbc/cs (books)9/13 Natural Resource Partners LP $297.0 9.125% Senior Notes B3 / B 5 NC2.5 99.007% 9.375% 9.500% Bank Refi Nat Res citi/wfs (books)9/13 Pinnacle Operating Corp $300.0 9.000% Senior Sec Notes (2nd Lien) Caa1 / CCC+ 7 NC3 100.000% 9.000% 9-9.25% Refi Healthcare cs/bmo/citi/apollo (books)9/13 Sanchez Energy $144.8 7.750% Senior Notes Caa1 / CCC+ 7.75 NC3.75 96.500% 8.370% 96-96.5 px Corp M&A Nat Res rbc/cs (books)9/13 Tenet Healthcare Corp $2,800.0 8.125% Senior Notes B3 / CCC+ 8.5 NCL 100.000% 8.125% 8-8.25% Corp M&A Healthcare baml/barc/citi/wfs (books)9/13 Tenet Healthcare Corp $1,800.0 6.000% Senior Sec Notes Ba3 / B+ 7 NCL 100.000% 6.000% 6-6.25% Corp M&A Healthcare baml/barc/citi/wfs (books)9/17 American Capital Ltd $350.0 6.500% Senior Notes B3 / B+ 5 NC2 100.000% 6.500% 6.25-6.5% GCP Financial jpm/baml/bmo/citi/cs/gs/ubs9/17 BI-LO Holding Finance $470.3 8.625% Senior PIK Toggle Notes Caa1 / CCC+ 5 NC1 99.000% 8.875% 8.75-9% Dividend Retail db/citi (books)9/17 Hercules Offshore $300.0 7.500% Senior Notes B3 / B 8 NC3 100.000% 7.500% 7.5-7.625% Bond Refi Nat Res db/ubs/cs/gs/cosc (books)9/17 Hub International $950.0 7.875% Senior Notes Caa2 / CCC+ 8 NC3 100.000% 7.875% 7.75-8% LBO Financial baml/ms/rbc/macquarie/bmo/ubs (books)9/17 Nexstar Broadcasting $275.7 6.875% Senior Notes (add-on) Caa1 / B 7 NC2 100.250% 6.814% 100-100.5 px GCP Media cs/wfs/rbc/baml/barc/strz (books)9/17 Springleaf Finance $150.0 7.750% Senior Notes Caa1 / CCC+ 8 NCL 100.000% 7.750% 7.750% GCP Financial baml/citi/cs (books)9/17 Springleaf Finance $100.0 8.250% Senior Notes Caa1 / CCC+ 10 NCL 100.000% 8.250% 8.250% GCP Financial baml/citi/cs (books)9/18 Phones 4u Finance PLC $324.1 10.000% Senior PIK Toggle Notes (GBP)Caa2 / CCC+ 5.5 NC1.5 99.000% 10.250% 10.25-10.5% Dividend Technology gs/lloyds (books)9/18 PRA Holdings $375.0 9.500% Senior Notes Caa1 / NR 10 NC5 100.000% 9.500% 9.25-9.5% LBO Healthcare cs/jeff/ubs/kkr/citi (books)9/18 Prospect Mortgage $145.7 10.250% Senior Notes B2 / B+ 5 NC2.5 97.162% 11.000% 11.000% GCP Financial cs/baml (books)9/19 Air Canada $300.0 8.750% Senior Sec Notes (2nd Lien) Caa2 / CCC+ 6.5 NC3.5 100.000% 8.750% 8.75-9% Bond Refi Industrial jpm/citi/sc/ms/td (books)9/19 Air Canada $400.0 6.750% Senior Sec Notes (1st Lien) B2 / B+ 6 NC3 100.000% 6.750% 6.75-7% Bond Refi Industrial jpm/citi/cs/ms/td (books)
Leveraged Capital Markets Update
![Page 17: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/17.jpg)
17
Week ending October 11, 2013
YTD HIGH YIELD DEALS (Continued)
YTD High Yield Transactions
Date Issuer Proceeds Coupon Security Ratings Structure Price Yield Price Talk UOP Industry Underwriters8/7 DreamWorks Animation $300.0 6.875% Senior Notes Ba3 / B 7 NC3 100.000% 6.875% 7.000% Bank Refi Media baml/jpm/wfs/strh (books)
9/19 Air Canada $293.5 7.625% Senior Sec Notes (1st Lien) (CAD)B2 / B+ 6 NC3 100.000% 7.625% 7.5-7.75% Bond Refi Industrial td/citi/cs/jpm/ms (books) 9/19 GEO Group $250.0 5.875% Senior Notes B1 / B+ 8.3 NC4 100.000% 5.875% 5.75-5.875% Bond Refi Real Estate wfs/strh/baml/barc/jpm/bnpp (books)9/19 GEO Group $250.0 5.875% Senior Notes B1 / B+ 8.3 NC4 100.000% 5.875% 5.75-5.875% Bond Refi Real Estate wfs/strh/baml/barc/jpm/bnpp (books)9/19 Sirius XM Radio $650.0 5.875% Senior Notes B1 / BB 7 NC3 100.000% 5.875% 6.000% Bond Refi Media jpm/db/ms/baml/barc/c/rbc (books)9/19 Sirius XM Radio $650.0 5.875% Senior Notes B1 / BB 7 NC3 100.000% 5.875% 6.000% Bond Refi Media jpm/db/ms/baml/barc/c/rbc (books)9/19 Walter Energy $447.4 9.500% Senior Sec Notes B3 / B 6 NC3 99.425% 9.625% 9.5-9.75% Bank Refi Nat Res ms/bmo/barc/baml/citi/ca/gs/jpm/scotia (books)9/19 Walter Energy $447.4 9.500% Senior Sec Notes B3 / B 6 NC3 99.425% 9.625% 9.5-9.75% Bank Refi Nat Res ms/bmo/barc/baml/citi/ca/gs/jpm/scotia (books)9/20 Boart Longyear $300.0 10.000% Senior Sec Notes B1 / BB- 5 NCL 100.000% 10.000% 10.000% Bank Refi Nat Res jpm/baml/gs (books)9/20 Boart Longyear $300.0 10.000% Senior Sec Notes B1 / BB- 5 NCL 100.000% 10.000% 10.000% Bank Refi Nat Res jpm/baml/gs (books)9/20 Hapag-Loyd AG $338.2 7.750% Senior Notes Caa2 / B- 5 NC2 100.000% 7.750% 7.75-8% GCP Transportation db/cti/jpm (books)9/20 Hapag-Loyd AG $338.2 7.750% Senior Notes Caa2 / B- 5 NC2 100.000% 7.750% 7.75-8% GCP Transportation db/cti/jpm (books)9/20 Hilton Worldwide $1,500.0 5.625% Senior Notes B3 / B 8 NC3 100.000% 5.625% 5.750% Refi Gaming/Leisure baml/db/gs/ms/jpm/wfs (books)9/20 Hilton Worldwide $1,500.0 5.625% Senior Notes B3 / B 8 NC3 100.000% 5.625% 5.750% Refi Gaming/Leisure baml/db/gs/ms/jpm/wfs (books)9/20 Jerrold Finco plc $320.6 9.750% Senior Sec Notes (GBP) NR / B+ 5 NC3 100.000% 9.750% 9.875% Bank Refi Financial rbs/jeff/lloyds (books)9/20 Jerrold Finco plc $320.6 9.750% Senior Sec Notes (GBP) NR / B+ 5 NC3 100.000% 9.750% 9.875% Bank Refi Financial rbs/jeff/lloyds (books)9/20 Lafarge SA $1,010.1 4.750% Senior Notes Ba1 / BB+ 7 NCL 99.546% 4.828% 0.000% GCP Industrial hsbc/ing/musi/nat/rbs/sant/bbva/commerz/uni (books)9/20 Lafarge SA $1,010.1 4.750% Senior Notes Ba1 / BB+ 7 NCL 99.546% 4.828% 0.000% GCP Industrial hsbc/ing/musi/nat/rbs/sant/bbva/commerz/uni (books)9/20 Nielsen Co $625.0 5.500% Senior Notes B2 / BB 8 NC3 100.000% 5.500% 5.5-5.75% Bond Refi Media jpm/citi/gs/wfs (books)9/20 Nielsen Co $625.0 5.500% Senior Notes B2 / BB 8 NC3 100.000% 5.500% 5.5-5.75% Bond Refi Media jpm/citi/gs/wfs (books)9/20 Seadrill $500.0 6.125% Senior Notes NR / NR 7 NCL 100.000% 6.125% 6.125% Refi Nat Res db (sole)9/20 Seadrill $500.0 6.125% Senior Notes / 7 NCL 100.000% 6.125% 6.125% Refi Nat Res db (sole)9/20 Soho House Bond Ltd $168.3 9.250% Senior Sec Notes (GBP) Caa1 / B- 5 NC2 100.000% 9.250% 9.250% Refi Gaming/Leisure Imperial (sole)9/20 Soho House Bond Ltd $168.3 9.250% Senior Sec Notes (GBP) Caa1 / B- 5 NC2 100.000% 9.250% 9.250% Refi Gaming/Leisure Imperial (sole)9/23 Dell $1,500.0 5.625% Senior Sec Notes (1st Lien) Ba2 / BB+ 7 NC3 100.000% 5.625% 5.5-5.75% LBO Technology cs/barc/baml/rbc/ubs (books)9/23 Energy XXI Gulf Coast $500.0 7.500% Senior Notes B3 / B+ 8 NC3 100.000% 7.500% 7.500% Bank Refi Nat Res citi/rbs/wfs/barc/cs/ubs (books)9/23 Ultrapetrol $26.1 8.875% Senior Sec Notes (1st Lien) (Add-On)B3 / B- 7.75 NC2.75 104.500% 7.875% 0.000% GCP Transportation baml/jeff (books)9/23 Whiting Petroleum Corp $404.0 5.750% Senior Notes (Add-On) Ba2 / BB+ 7.5 NCL 101.000% 5.580% 101-101.25 px GCP Nat Res wfs/jpm/baml (books)9/24 Abengoa Finance SAU $337.7 8.875% Senior Notes (EUR) B2 / B 4.5 NCL 100.250% 8.799% 100.25-100.75 px Refi Energy citi/ms (books)9/24 CPG International $315.0 8.000% Senior Notes Caa2 / CCC+ 8 NC3 100.000% 8.000% 8-8.25% LBO Industrial jpm/barc/db/citi/rbs/ubs (books)9/24 General Motors $1,500.0 6.250% Senior Notes Ba1 / BB+ 30 NCL 100.000% 6.250% 0.000% GCP Industrial baml/citi/jpm/ms/bnpp/rbs/ubs (books)9/24 General Motors $1,500.0 4.875% Senior Notes Ba1 / BB+ 10 NCL 100.000% 4.875% 4.875% GCP Industrial baml/citi/jpm/ms/bnpp/rbs/ubs (books)9/24 General Motors $1,500.0 3.500% Senior Notes Ba1 / BB+ 5 NCL 100.000% 3.500% 3.500% GCP Industrial baml/citi/jpm/ms/bnpp/rbs/ubs (books)9/24 Nationstar Mortgage LLC $225.0 6.500% Senior Notes (Add-On) B2 / B+ 5 NC2 100.000% 6.500% 100 px GCP Financial cs (sole)9/24 The ADT Corp $1,000.0 6.250% Senior Notes Ba2 / BB- 8 NCL 100.000% 6.250% 6.250% Repurch Stock Consumer gs/citi/db/jpm (books)9/25 Beazer Homes Inc $197.1 7.500% Senior Notes Caa2 / CCC 8 NC3 98.541% 7.750% 7.625-7.75% GCP Real Estate cs (sole)9/25 Plastipak $375.0 6.500% Senior Notes Caa1 / B+ 8 NC3 100.000% 6.500% 6.25-6.5% Bond Refi Industrial jpm/wfs/rbs/baml (books)9/25 SNF Floerger $250.0 6.000% Senior Notes Ba3 / BB+ 8.3 NC4 100.000% 6.000% 6-6.25% Bank Refi Chemicals baml/bnpp (books)9/25 Veneto Banca Scpa $403.2 4.250% Senior Sec Notes (EUR) NR / NR 3 NCL 99.752% 4.375% 0.000% GCP Financial imi/db/nat/nomura (books)9/26 Artesyn Technologies $250.0 9.750% Senior Secured Notes B3 / B 7 NC3 100.000% 9.750% 9.5-9.75% LBO Technology baml/gs (books)9/26 Avanti Communications $370.0 10.000% Senior Sec Notes Caa1 / B 6 NC5 100.000% 10.000% 10-10.25% Refi Telecom jeff/ubs/barc (books)9/26 Clayton Williams Energy $250.0 7.750% Senior Notes (Add-On) B3 / B- 5.5 NC1.5 100.000% 7.750% 100 px Bank Refi Nat Res rbs/jpm/mus/wfs (books)9/26 Gannett Co $644.1 6.375% Senior Notes Ba1 / BB 10 NC5 99.086% 6.500% 6.500% Corp M&A Media jpm/citi/barc/mus/mizu/strh/usb (books)9/26 Gannett Co $592.3 5.125% Senior Notes Ba1 / BB 6 NC3 98.724% 5.375% 5.375% Corp M&A Media jpm/citi/barc/mus/mizu/strh/usb (books)9/26 Medical Properties Trust $270.5 5.750% Senior Notes (EUR) Ba1 / BB 7 NC3 100.000% 5.750% 5.750% GCP Healthcare baml/db/jpm (books)9/26 MEG Energy Corp $800.0 7.000% Senior Notes B1 / BB 10.5 NC5 100.000% 7.000% 6.875% GCP Nat Res barc/bmo/cs (books)9/26 Sinclair $350.0 6.375% Senior Notes B1 / B- 8 NC3 100.000% 6.375% 6.375-6.5% Bond Refi Media db/jpm/strh (books)9/26 Titan International $400.0 6.875% Senior Secured Notes B1 / B+ 7 NC3 100.000% 6.875% 6.875% GCP Industrial gs/jeff (books)9/27 Allegion US Holding $300.0 5.750% Senior Notes Ba2 / BB+ 8 NC3 100.000% 5.750% 5.750% Dividend Consumer gs/jpm/bnpp/baml/citi/cs (books)9/27 Caesars Entertainment Corp $1,150.0 11.000% Senior Sec Notes (2nd Lien) Caa2 / CCC+ 8 NC3 100.000% 11.000% 10.25-10.5% Bank Refi Gaming/Leisure citi/baml/cs/db/jpm/gs/mqb/ms/ubs (books)9/27 Caesars Entertainment Corp $1,000.0 8.000% Senior Sec Notes (1st Lien) B2 / B 7 NC3 100.000% 8.000% 7.25-7.5% Bank Refi Gaming/Leisure citi/baml/cs/db/jpm/gs/mqb/ms/ubs (books)9/27 Forum Energy Technologies $300.0 6.250% Senior Notes Ba3 / BB 8 NC3 100.000% 6.250% 6.375% Bank Refi Nat Res jpm/wfs/baml/citi/db (books)9/27 Howard Hughes Corp $750.0 6.875% Senior Notes Ba3 / B 8 NC3 100.000% 6.875% 6.750% GCP Real Estate cs (sole)10/1 Emma Delta $199.2 12.000% Senior Sec Notes (2nd Lien) (EUR)NR / NR 4 NCL 98.200% 12.577% 12.000% GCP Finance jeff (books)10/1 Emma Delta $338.2 8.500% Senior Sec Notes (1st Lien) (EUR)NR / NR 4 NC0 100.000% 8.500% 8.500% GCP Finance jeff (books)10/1 Stackpole International $360.0 7.750% Senior Sec Notes (1st Lien) B2 / B+ 8 NC3 100.000% 7.750% 7.75-8% LBO Industrial ms/nom/rbc/ubs (books)10/3 Calfrac Holdings LP $149.4 7.500% Senior Notes B1 / B+ 7.25 NC2.25 99.625% 7.566% 99.5 px Bank Refi Nat Res rbc/ms (books)10/3 CNH Capital $500.0 3.250% Senior Notes Ba1 / BB- 3 NCL 100.000% 3.250% 3.25-.3375% GCP Industrial baml/citi/ca/ms (books)10/4 TMS International Corp $275.0 7.620% Senior Notes B3 / B- 8 NC3 100.000% 7.620% 7.750% LBO Industrial gs/jpm (books)10/7 Memorial Production $291.0 7.625% Senior Notes Caa1 / B- 7.5 NC3.5 97.000% 8.163% 97 px Industial Nat Res wfs/baml/barc/citi/jpm/rbc/rbs (books)10/7 Michael Baker $350.0 8.250% Senior Sec Notes B2 / B+ 5 NC2.5 100.000% 8.250% 8.25-8.5% Corp M&A Industrials jeff (sole)10/8 Oberthur Technologies $258.0 9.250% Senior Notes (EUR) Caa1 / CCC 6.5 NC3 100.000% 9.250% 9.25-9.5% Bank Refi Technology gs/jpm/lloyds/barc/hsbc/socg (books)10/8 T-Mobile USA $1,275.0 6.464% Senior Notes Ba3 / BB 5.5 NC1.5 102.000% 6.033% 103 px Other Telecom db/citi/cs/gs/jpm/ms (books)10/8 T-Mobile USA $1,250.0 6.542% Senior Notes Ba3 / BB 6.5 NC2.5 100.000% 6.542% 101 px Other Telecom db/citi/cs/gs/jpm/ms (books)10/8 T-Mobile USA $1,250.0 6.633% Senior Notes Ba3 / BB 7.5 NC3.5 100.000% 6.633% 100 px Other Telecom db/citi/cs/gs/jpm/ms (books)10/8 T-Mobile USA $1,237.5 6.731% Senior Notes Ba3 / BB 8.5 NC3.5 99.000% 6.887% 99 px Other Telecom db/citi/cs/gs/jpm/ms (books)10/8 T-Mobile USA $588.0 6.836% Senior Notes Ba3 / BB 9.5 NC4.5 98.000% 7.128% 98 px Other Telecom db/citi/cs/gs/jpm/ms (books)10/9 Hapag-Lloyd AG $207.2 7.750% Senior Notes Caa1 / B- 5 NC2 101.750% 7.326% 101.5-102 px Bond Refi Transportation db/citi/jpm (books)10/9 Millicom Intl Cellular $800.0 6.625% Senior Notes Ba2 / NR 8 NC4 100.000% 6.625% 6.875% Corp M&A Telecom bnpp/citi/jpm (books)
10/10 Aviv Healthcare $250.0 6.000% Senior Notes Ba3 / BB 8 NC4 100.000% 6.000% 6-6.25% Bank Refi Healthcare baml/ms/gs/citi10/10 L Brands Inc $500.0 5.625% Senior Notes Ba1 / BB+ 10 NCL 100.000% 5.625% 5.625% Bond Refi Retail baml/citi/jpm (books)10/10 NGL Energy Partners LP/NGL Finance Corp $450.0 6.875% Senior Notes B2 / BB- 8 NC3 100.000% 6.875% 6.625% Bank Refi Nat Res rbc/rbs/db/pnc/baml/ubs/strh (books)10/10 REN Financedes $540.0 4.750% Senior Notes Ba1 / BB+ 7 NCL 99.850% 4.776% 0.000% GCP Power caixa/ing/jpm/rbc/sgcib (books)10/10 Wynn Macau Ltd $600.0 5.250% Senior Notes Ba2 / BB 8 NC3 100.000% 5.250% 5.125-5.25% GCP Gaming/Leisure jpm/db/boci/bnpp/dbs/icbc/scotia (books)10/10 Xella Holdco Finance $270.4 9.125% Senior PIK Notes (EUR) B2 / B- 5 NC1.5 100.000% 9.125% 9.250% GCP Industrial ms/gs/bnpp/uni/ca (books)
YTD Totals for 2013 $340,672 YTD Tranches 705
YTD Totals for 2012 $295,726 YTD Tranches 625
Totals for 2012 $385,927 Tranches 822
YTD Totals for 2011 $244,239 YTD Tranches 552
Totals for 2011 $282,214 Tranches 621
Leveraged Capital Markets Update
![Page 18: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/18.jpg)
18
Week ending October 11, 2013
Sector Market Performance
Broader Market Performance
Equity Market Drivers Market Performance and Economics Forecast
Equity Mutual Fund Flows
Weekly S&P Sector Performance
0.8% 1.1%
-0.4% -0.4%
1.7% 0.7% 1.3%
0.0%
1.3% 0.6%
0.0%
1.2%2.6%
19.4%
16.3%
25.6%28.0%
15.8% 15.2%
23.7%
28.1%
23.1%
13.1% 12.9%
3.5%
9.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
S&
P 5
00
Dow
NA
SD
AQ
Co
nsu
me
r D
iscre
tio
na
ry
Con
su
me
r S
tap
les
En
erg
y
Fin
an
cia
ls
Hea
lth
ca
re
Ind
ustr
ials
Info
rma
tio
n T
ech
no
log
y
Ma
teri
als
Te
leco
m
Utilit
ies
% Weekly Change % YTD Change
Positive Drivers
MBA mortgage applications increased by 1.3% after a 0.4% decrease the previous
week, as lower rates boosted home purchases and refinancing activity
Perceptions of improvements in U.S. debt ceiling negotiations as talks between
senators Reid and McConnell have shown positive signs for an end to the impasse
Negative Drivers
Initial Jobless Claims increased to 374k, above estimates of 311k and following the
previous week’s 308k reading, reflecting issues in California and a partial government
shutdown. Continuing Claims decreased to 2,905k, above estimates of 2,863k and
following the previous week’s 2,921k reading
Consumer confidence, as measured by the University of Michigan’s Confidence
Index, decreased to 75.2 in October, a nine-month low, compared to estimates of 75.3
and below Augusts' reading of 77.5
U.S. indices finished mixed last week, with the S&P 500 and the Dow Jones up 0.8% and
1.1% respectively and the NASDAQ down 0.4% % Change
Index 12/31/2012 10/11/2013 YTD 30-Day 7-Day
S&P 500 1426.19 1,703.2 19.4% 0.8% 0.8%
Dow Jones 13104.14 15,237.1 16.3% -0.6% 1.1%
NASDAQ 3019.51 3,791.9 25.6% 1.8% -0.4%
Russell 2000 849.35 1,084.3 27.7% 2.7% 0.6%
Other Relevant Prices/Indices
Oil (WTI) 91.82 $102.02 11.1% -5.2% -1.8%
VIX Volatility 18.02 15.7 -12.8% 13.7% -6.1%
CRB Commodity 554.62 517.9 -6.6% -1.2% 0.0%
MS Cyclical 1047.049 1,324.1 26.5% 1.0% 0.2%
Total equity fund flows (including ETFs) were a negative $6,098.5mm last week, with domestic funds reporting net outflows of -$1,576.1mm and international funds reporting net inflows of $2,529.8mm. Excluding ETF activity,
equity funds reported -$142.5mm of outflows last week. Total net inflows for 2013 YTD are $151.2bn.
-$15,000
-$10,000
-$5,000
$0
$5,000
$10,000
$15,000
$20,000
10/19/12 2/15/13 6/14/13 10/11/13
Equity Fund Flows (mm) 4-Wk. Moving Avg.
2012 / 2013 By Quarter 2012 2013E
Indicators 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13E
Real GDP Growth 0.1% 1.1% 2.5% 2.0% 2.0% 2.8% 1.6%
Unemployment 7.8% 7.7% 7.5% 7.3% 7.1% 8.1% 7.4%
Consumer Prices 1.9% 1.7% 1.4% 1.6% 1.4% 2.1% 1.5%
Core CPI 1.9% 1.9% 1.7% 1.8% 1.9% 2.1% 1.8%
Fed Funds Target 0-0.25% 0-0.25% 0-0.25% 0-0.25% 0-0.25%
Equity Capital Markets Update
![Page 19: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/19.jpg)
19
Week ending October 11, 2013
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
$4,000
$4,500
$5,000
$5,500
$6,000
$6,500
$7,000
$7,500
$8,000
$8,500
$9,000
$9,500
$10,000
$10,500
$11,000
$11,500
$12,000
$12,500
$13,000
Consumer Retail Finance Healthcare Industrial Media & Telecom Nat. Res. Power Real Estate Technology
2013 YTD Sponsors Volume 2012 Comparable Period Sponsors Volume
`
90%
95%
100%
105%
110%
115%
120%
125%
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
IPO Volume ($MM) Follow-on Volume ($MM) Dow Jones NASDAQ S&P 500
Jul AugFebJan OctNov Dec Mar Apr May Jun Sep
Financial Sponsors Issuance and Market Performance
Sponsor Issuance By Sector
Recent Financial Sponsor New Issue Activity
Financial Sponsors Equity Issuance Trends
Sponsor 2013 vs. 2012
Sponsor Volume Comparison
Base Size Price vs. Deal Size % File / Offer Performance
Date Issuer ($mm) Range Change Secondary Discount 1-Day Current Financial Sponsor
IPOs:
10/9/2013 Antero Resources Corp $1,571.9 Above Upsized 0.0% - 18.2% 21.1% Yorktown Partners LLC; Warburg Pincus LLC; Trilantic Capital Partners
10/9/2013 MacroGenics Inc $80.0 Within Upsized 0.0% - 56.2% 63.1% TPG Capital LP
10/8/2013 QTS Realty Trust Inc $257.3 Below - 0.0% - 0.0% 3.8% General Atlantic LLC
Follow-ons:
10/10/2013 Buckeye Partners LP $469.6 - Upsized 0.0% (2.7%) 5.3% 5.3% First Reserve Corp
10/9/2013 Cumulus Media Inc $82.0 - Upsized 0.0% (6.9%) 5.8% 8.0% Crestview Partners LLC
IPO Filings:
10/7/2013 Norcraft Companies Inc $100.0 - - - - - - Trimaran Capital Partners; Apax Partners LLP
10/7/2013 Tandem Diabetes Care Inc $100.0 - - - - - - TPG Capital LP
Withdrawn / Postponed:
None
$0
$4,000
$8,000
$12,000
$16,000
$20,000
$24,000
$28,000
$32,000
$36,000
$40,000
$44,000
IPOs Vol. Follow-ons Vol.
2013 YTD 2012 Comparable Period
2013 YTD 2012 Comparable Period % Y-O-Y
Volume # Deals Volume # Deals $ Volume Deals
IPOs $13,010.9 29 $4,680.2 20 178.0% 45.0%
Follow-ons $42,903.5 103 $17,872.7 39 140.1% 164.1%
Total $55,914.4 132 $22,552.9 59 147.9% 123.7%
Equity Capital Markets Update
![Page 20: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/20.jpg)
20
Week ending October 11, 2013
0%
20%
40%
60%
80%
100%
Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct
Below Within Above
0%
20%
40%
60%
80%
100%
Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct
Below Within Above
0%
20%
40%
60%
80%
100%
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct
Non-Sponsor IPO Volume ($MM)
Sponsor IPO Volume ($MM)
% Sponsor
Sponsor vs. Non-Sponsor IPO Pricing Dynamics
Sponsor IPOs Pricing
___________________________ Note: Barclays Bookrun deals shaded; Barclays Co-Managed deals bolded.
# Spons:
# Non-Spons: 3
19
NA
5
8
0
8
3
2
3
9
1
7
4
7
5
8
2
27
3
15
1
20
Recent Financial Sponsors IPOs
3
12
Financial Sponsors IPO Issuance
Non-Sponsor IPOs Pricing
Pricing Date Issuer Financial Sponsor Industry
Base Size
$Millions
Deal Size
Change
%
Secondary
Size as % of
Mkt. Cap
Market Cap
$Millions
Pricing
Relative to
Range
Pricing + 1
Day
Pricing +
Current
10/09/13 Antero Resources CorpYorktown Partners LLC; Warburg Pincus
LLC; Trilantic Capital PartnersNat. Res. $1,571.9 Upsized 0.0% 13.7% $11,444.4 Above 18.2% 21.1%
10/09/13 MacroGenics Inc TPG Capital LP Healthcare $80.0 Upsized 0.0% 20.8% $384.3 Within 56.2% 63.1%
10/08/13 QTS Realty Trust Inc General Atlantic LLC REIT $257.3 - 0.0% 45.1% $569.8 Below 0.0% 3.8%
10/03/13 Potbelly CorpOak Investment Partners LP; American
Securities LLCConsumer Retail $105.0 - 2.0% 26.8% $392.0 Above 119.8% 98.6%
10/01/13 Burlington Stores Inc Bain Capital Partners LLC Consumer Retail $226.7 - 0.0% 18.6% $1,217.8 Above 47.1% 56.9%
09/26/13 Pattern Energy Group Inc Riverstone Holdings LLC Power $352.0 - 0.0% 31.3% $1,123.8 Above 5.8% 3.2%
09/17/13 Benefitfocus IncGoldman Sachs Capital Partners;
Oak Investment Partners LPTechnology $130.8 Upsized 54.3% 20.3% $644.3 Above 102.1% 58.0%
09/17/13 Five Prime Therapeutics Inc TPG Capital LP Healthcare $62.4 Upsized 0.0% 30.0% $208.2 Within 0.6% 1.5%
08/13/13 Envision Healthcare Holdings Inc Clayton Dubilier & Rice Inc Healthcare $966.0 Upsized 0.0% 24.1% $4,003.9 Within 9.3% 25.4%
08/08/13 Stock Building Supply Holdings Inc Gores Group LLC Industrial $98.0 Downsized 37.0% 26.9% $364.9 Below 3.1% 0.4%
08/01/13 Athlon Energy Inc Apollo Global Management LLC Nat. Res. $315.8 - 0.0% 19.2% $1,642.5 Within 37.8% 60.7%
07/31/13 Sprouts Farmers Markets Inc Apollo Global Management LLC Consumer Retail $333.0 - 4.3% 12.9% $2,585.9 Above 122.8% 156.7%
06/26/13 CDW CorpMadison Dearborn Partners LLC;
Providence Equity Partners LLCTechnology $395.3 Downsized 0.0% 13.8% $2,864.0 Below 8.1% 35.2%
06/26/13 HD Supply Holdings IncCarlyle Group LP;
Clayton Dubilier & Rice Inc;
Bain Capital Partners LLC
Industrial $957.5 - 0.0% 28.9% $3,307.9 Below 3.7% 16.7%
06/12/13 Coty Inc Berkshire Partners LLC, Rhone Capital LLC Consumer Retail $1,000.0 - 0.0% 14.9% $6,699.5 Within -0.8% -6.5%
Absolute Returns %
Equity Capital Markets Update
![Page 21: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/21.jpg)
21
Week ending October 11, 2013
Avg. File/Offer
-5.2%
-3.5%
0.8%
-3.4%
-6.4%
-8.0%
-4.2%
-9.4%
-3.8%-5.2%
-3.1%
-4.8%
-9.1%
-5.5%-4.0%
-4.9%-3.8%
-5.8%-4.2%
-7.0%
0.0%
-5.9%-4.6% -4.5%
-25%
-20%
-15%
-10%
-5%
0%
5%
Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct
Sponsor Non-Sponsor
0%
20%
40%
60%
80%
100%
$0
$10,000
$20,000
$30,000
$40,000
$50,000
Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct
Non-Sponsor FO Volume ($MM) Sponsor FO Volume ($MM) % Sponsor
___________________________ Note: Barclays Bookrun deals shaded; Barclays Co-Managed deals bolded.
Recent Financial Sponsors Follow-Ons
Financial Sponsors Follow-On Issuance
# Spons:
# Non-Spons:
18
55
2
15
11
27
12
37
5
43
14
27
20
51
3
30
Sponsor Follow-on Volume Block %
2011: 35%
2012: 58%
2013YTD: 43%
8
33
6
33
15
28
Sponsor Follow-On Pricing Dynamics
11
65
Base Offering Size as:
Pricing Date Issuer Financial Sponsor Industry
Base Size
$Millions % Secondary
Block
Trade
(Y/N)
Market Cap
$Millions
% of Pre-Deal
Mkt. Cap.
Multiple of
ADTV File/Offer
Discount /
Last Trade
Pricing + 1
Day
Pricing +
Current
10/10/13 Buckeye Partners LP First Reserve Corp Nat. Res. $469.6 0.0% N $6,662.1 7.0% 23.3x -2.7% 0.0% 5.3% 5.3%
10/09/13 Cumulus Media Inc Crestview Partners LLC Media & Telecom $82.0 0.0% N $853.2 9.8% 17.6x -6.9% -2.0% 5.8% 8.0%
09/26/13 Enduro Royalty Trust Riverstone Holdings LLC Nat. Res. $155.1 100.0% N $457.1 33.9% 325.3x -7.7% 0.0% -13.0% -13.4%
09/26/13 Caesars Entertainment Corp TPG Capital LP; Apollo Global Management LLC Real Estate $197.5 0.0% Y $2,851.3 7.9% 11.4x -5.6% -5.6% -0.2% 11.2%
09/19/13 SS&C Technologies Holdings Inc Carlyle Group LP Technology $283.9 100.0% Y $3,215.2 9.2% 17.7x -3.7% -3.7% 1.8% -2.9%
09/19/13 Kar Auction Services IncValueAct Capital Partners LP; Kelso & Co; Goldman Sachs Capital
Partners; Parthenon Capital PartnersIndustrial $328.2 100.0% Y $3,902.5 8.7% 13.8x -3.3% -3.3% 2.9% 5.8%
09/18/13 Five Below Inc Advent International Corp Consumer Retail $333.7 100.0% Y $2,620.9 13.1% 9.5x -3.1% -3.1% -2.1% -3.3%
09/17/13 Fleetmatics Group plc Investcorp Bank BSC Technology $279.6 100.0% N $1,700.0 20.3% 18.6x 0.0% -2.6% -2.7% -26.0%
09/12/13 EVERTEC Inc Apollo Global Management LLC Technology $450.0 100.0% N $1,859.4 24.4% 55.0x -5.9% -0.9% 2.7% -5.3%
09/12/13 NXP Semiconductors NV Silver Lake; Bain; KKR; Apax Technology $941.3 100.0% N $9,468.9 11.2% 11.5x -1.0% -1.0% 0.0% 1.4%
09/11/13 FleetCor Technologies Inc Summit Partners LP Technology $288.8 100.0% Y $8,682.4 3.4% 4.1x -1.0% -1.0% 2.1% 1.5%
09/10/13 Armstrong World Industries Inc TPG Capital LP Industrial $362.3 100.0% Y $3,099.4 20.4% 42.1x -1.2% -1.2% 0.9% 3.5%
09/04/13 LyondellBasell Industries NV Apollo Global Management LLC Nat. Res. $1,112.0 100.0% Y $39,965.9 2.8% 4.3x -1.4% -1.4% -0.1% 9.3%
08/15/13 Sophiris Bio Inc Warburg Pincus LLC Healthcare $65.0 0.0% N $21.8 412.7% NA NM -27.7% -17.0% -12.8%
08/14/13 Northern Tier Energy LP ACON Investments LLC; TPG Capital LP Nat. Res. $262.8 100.0% N $2,192.6 12.5% 9.8x -4.0% -4.0% 0.0% -3.2%
08/12/13 First BanCorp (Puerto Rico) Thomas H Lee Partners LP; Oaktree Capital Management LP Finance $189.0 100.0% N $1,413.7 13.5% 72.2x -9.9% -1.2% -1.8% -21.8%
08/12/13 Laredo Petroleum Holdings Inc Warburg Pincus LLC Nat. Res. $380.0 18.8% N $3,153.4 12.4% 19.4x -8.4% -2.5% -2.1% 29.7%
08/08/13 Graphic Packaging Holding Co Clayton Dubilier & Rice Inc; TPG Capital LP Industrial $127.5 100.0% Y $3,029.1 4.3% 7.5x -2.2% -2.2% -0.1% 1.8%
08/08/13 Norwegian Cruise Line Holdings Ltd TPG Capital LP; Apollo Global Management LLC Industrial $595.0 100.0% N $6,130.6 9.8% 56.3x 0.0% -1.0% 4.3% 3.3%
08/08/13 Quality Distribution Inc MidOcean Partners LLP; Apollo Global Management LLC Industrial $36.7 100.0% N $244.8 15.9% 29.9x -12.2% -5.5% 0.6% 14.4%
08/08/13 Wesco Aircraft Holdings Inc Carlyle Group LP Industrial $113.2 100.0% Y $1,831.6 6.4% 14.1x -3.0% -3.0% 7.3% 4.7%
08/07/13 Advent Software Inc TPG Capital LP Technology $152.9 100.0% N $1,388.2 13.9% 26.8x -12.9% -1.2% 2.9% 19.2%
Absolute Returns %
Equity Capital Markets Update
![Page 22: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/22.jpg)
22
Week ending October 11, 2013
Financial Sponsors IPO Backlog
___________________________ Source: Dealogic. Note: Barclays Bookrun deals shaded; Barclays Co-Managed deals bolded. Excludes launched deals and companies whose initial filing was prior to 2011.
Original Filing
Date Issuer Industry
Base Size
($mm) Financial Sponsor Bookrunner
10/07/13 Norcraft Companies Inc Consumer Retail $100 Trimaran Capital Partners; Apax Partners LLP CITI; UBS; DB; RBC
10/07/13 Tandem Diabetes Care Inc Healthcare $100 TPG Capital LP BOAML; PIPER
09/30/13 Container Store Group Inc Consumer Retail $200 Leonard Green & Partners LPJPM; BAR; CS; MS; BOAML; WLF;
JEFF
09/24/13 Apparel Holding Corp Consumer Retail $200 Sun Capital Partners IncGS; BAIRD; BOAML; BAR; JPM;
UBS
09/19/13 CHC Group Ltd Industrial $400 First Reserve Corp JPM; BAR; UBS
09/17/13 Aerie Pharmaceuticals Inc Healthcare $58 TPG Capital LP RBC; STIFEL
09/12/13 Hilton Worldwide Real Estate $1,250 Blackstone Group LP DB; GS; BOAML; MS
09/09/13 ARAMARK Holdings Corp Consumer Retail $100 Thomas H Lee Partners LP; Warburg Pincus LLC; Goldman Sachs
Capital Partners; CCMP Capital Advisors LLCGS; JPM; CS; MS
09/05/13ASC Acquisition LLC (Surgical Care
Affiliates Inc)Healthcare $100 TPG Capital LP JPM; CITI; BAR
09/04/13 EP Energy Corp Nat. Res. $100 Riverstone Holdings LLC; Apollo Global Management LLC UNDISC
08/29/13 Fidelity & Guaranty Life Finance $100 Harbinger Capital Partners LLC CS
08/27/13 Globant SA Technology $86 Riverwood Capital LLC JPM; CITI; CS
07/22/13 Extended Stay America Inc Real Estate $100 Blackstone Group LP; Centerbridge Partners LP DB; GS; JPM
07/18/13 Brixmor Property Group Inc Real Estate $100 Blackstone Group LP BOAML; CITI; JPM; WLF
07/15/13 Associated Materials Inc Industrial $100 Hellman & Friedman LLC GS; BAR; UBS
07/09/13 Ally Financial Inc Finance $100 Cerberus Partners LP CITI; GS; MS; BAR; DB
07/03/13 Santander Consumer USA Holdings Inc Finance $50 Warburg Pincus LLC; Centerbridge Partners LP; KKR & Co LP UNDISC
06/18/13 City Ventures Inc Industrial $150 Ares Management LLC DB; GS; CITI; IMP; JPM; UBS
06/14/13 International Automotive Components Group Industrial $115 WL Ross & Co LLC BOAML; DB; JPM
03/30/12 Michaels Stores Inc Consumer Retail $500 Bain Capital Partners; Blackstone Group LPJPM; GS; BAR; DB; BOAML; CS;
MS; WLF
10/31/11 Isola Group Ltd Technology $100 TPG Capital LP UBS; PJ
06/09/11 Avaya Holdings Corp Media & Telecom $1,000 Silver Lake Partners LP; TPG Capital LPMS; GS; JPM; CITI; DB; BOAML;
BAR; UBS; CS
04/22/11 CPG International Inc Industrial $150 AEA Investors LLC BAR; DB; CS
06/25/10 Affinia Group Holdings Inc Industrial $230 Cypress Group LLC JPM; BAR; BOAML; BAIRD
01/22/10 Ryerson Holding Corp Industrial $400 Platinum Equity LLC BOAML, DB, BMOCM
Total # of Deals in Backlog 25
Total Backlog Volume ($mm) $5,889
Equity Capital Markets Update
![Page 23: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/23.jpg)
23
Week ending October 11, 2013
Upcoming Barclays Conferences
This document has been prepared by Barclays Capital Inc. (“Barclays”) for information purposes only. This material has not been produced by Barclays’ Research Department and does not constitute investment research or a research
recommendation for the purposes of Financial Services Authority (FSA) rules or a research report under U.S. law. This material is for the intended recipient and cannot be redistributed or reproduced without written permission from Barclays.
This document shall not constitute an underwriting commitment, an offer of financing, an offer to sell, or the solicitation of an offer to buy any securities or other financial instruments described herein. No transaction, or services related thereto, is
contemplated without Barclays' subsequent formal agreement. Barclays is not acting as a fiduciary, accordingly you must independently determine, with your own advisors, the appropriateness for you of the securities, financial instruments or
transactions described herein before investing or transacting. Barclays accepts no liability whatsoever for any consequential losses arising from the use of this document or reliance on the information contained herein.
Unless otherwise specified, the source for all graphs, charts, and other information is Barclays. Barclays’ databases are derived from various internal and external sources. Barclays does not represent that the information provided herein is
accurate or complete and it should not be relied upon as such. Any data on past performance, modeling or back-testing contained herein is no indication as to future performance. No representation is made as to the reasonableness of the
assumptions made within or the accuracy or completeness of any modeling or back-testing or any other information contained herein. All levels, prices and spreads are historical and do not represent current market levels, prices or spreads, some
or all of which may have changed since the issuance of this document. All opinions and estimates are given as of the date hereof and are subject to change and Barclays assumes no obligation to update this document to reflect any such
changes. The value of any investment may fluctuate as a result of market changes. The information herein is not intended to predict actual results and no assurances are given with respect thereto. Nothing herein shall be deemed to constitute
investment, legal, tax, financial, accounting or other advice.
Barclays and/or its affiliated companies may make a market or deal as principal in the securities or financial instruments mentioned in this document or in options or other derivatives based thereon. Barclays may be on the opposite side of any
orders executed for securities or financial instruments that are related to or the subject of this material. In addition, Barclays, its affiliated companies, shareholders, directors, officers and/or employees, including persons involved in preparation or
issuance of this material, may from time to time have long or short positions in such securities or financial instruments, or in options, futures, or other derivative instruments based thereon. One or more directors, officers, and/or employees of
Barclays or its affiliated companies may be a director of the issuer of the securities or financial instruments mentioned in this document. Barclays or its affiliated companies may have managed or co-managed a public offering of securities for any
issuer mentioned in this document within the last three years.
IRS Circular 230 Disclosure: Barclays and its affiliates do not provide tax advice. Please note that (i) any discussion of U.S. tax matters contained in this communication (including any attachments) cannot be used by you for the purpose of
avoiding tax penalties; (ii) this communication was written to support the promotion or marketing of the matters addressed herein; and (iii) you should seek advice based on your particular circumstances from an independent tax advisor.
Notwithstanding anything herein to the contrary, each recipient hereof (and their employees, representatives, and other agents) may disclose to any and all persons, without limitation of any kind from the commencement of discussions, the U.S.
federal and state income tax treatment and tax structure of the proposed transaction described herein and all materials of any kind (including opinions or other tax analyses) that are provided relating to such tax treatment and tax structure. For
this purpose, "tax structure" is limited to facts relevant to the U.S. federal and state income tax treatment of the proposed transaction described herein and does not include information relating to the identity of the parties, their affiliates, agents or
advisors.
NO ACTION HAS BEEN MADE OR WILL BE TAKEN THAT WOULD PERMIT A PUBLIC OFFERING OF THE SECURITIES DESCRIBED HEREIN, OR AN OFFERING OF ANY FINANCIAL INSTRUMENT, IN ANY JURISDICTION IN WHICH
ACTION FOR THAT PURPOSE IS REQUIRED. NO OFFERS, SALES, RESALES OR DELIVERY OF THE SECURITIES OR OTHER FINANCIAL INSTRUMENTS DESCRIBED HEREIN OR DISTRIBUTION OF ANY OFFERING MATERIAL
RELATING TO SUCH SECURITIES OR OTHER FINANCIAL INSTRUMENTS MAY BE MADE IN OR FROM ANY JURISDICTION EXCEPT IN CIRCUMSTANCES WHICH WILL RESULT IN COMPLIANCE WITH ANY APPLICABLE LAWS
AND REGULATIONS AND WHICH WILL NOT IMPOSE ANY OBLIGATION ON BARCLAYS OR ANY OF ITS AFFILIATES.
THIS DOCUMENT DOES NOT DISCLOSE ALL THE RISKS AND OTHER SIGNIFICANT ISSUES RELATED TO AN INVESTMENT IN THE SECURITIES, FINANCIAL INSTRUMENTS OR TRANSACTIONS DESCRIBED HEREIN. PRIOR TO
TRANSACTING, POTENTIAL INVESTORS SHOULD ENSURE THAT THEY FULLY UNDERSTAND THE TERMS OF THE RELEVANT SECURITIES, FINANCIAL INSTRUMENT OR TRANSACTION AND ANY APPLICABLE RISKS.
Barclays Bank PLC is registered in England No. 1026167. Registered Office: 1 Churchill Place, London E14 5HP. Copyright Barclays Bank PLC, 2013 (all rights reserved). This document is confidential, and no part of it may be reproduced,
distributed or transmitted without the prior written permission of Barclays.
Conference Name Date Location
Global Automotive Conference November 12, 2013 New York, NY
Barclays Select: Asia TMT Conference December 4, 2013 Hong Kong
Chemical Experts Conference January 14, 2014 New York, NY
Big Data Conference February 10, 2014 San Francisco. CA
Industrial Select Conference February 19, 2014 Miami, FL
Global Healthcare Conference Match 11, 2014 Miami, FL
![Page 24: Barclays Financial Sponsors Weekly Newsletter_Oct 11](https://reader031.vdocuments.site/reader031/viewer/2022012306/55cf9984550346d0339dc75f/html5/thumbnails/24.jpg)
24
Week ending October 11, 2013
Barclays Contacts
U.S. Headquarters:
745 7th Avenue, 23rd Floor
New York, NY 10019
John Miller
Managing Director
Head of Global Financial Sponsors
212-526-9946
New York:
Santino Basile
Managing Director
212-526-2664
David Becker
Managing Director
212-526-1036
Jeffrey Rabel
Managing Director
212-526-8492
Evan Rothenberg
Managing Director
212-526-3576
Chris Sullivan
Managing Director
212-526-2067
Chicago:
Kurt Kohlmeyer
Managing Director
312-609-8584
Los Angeles:
Ted Iantuono
Managing Director
310-907-0444
James Meehan
Director
310-481-2626
Matthew Grinnell
Managing Director
Head of Financial Sponsors, Europe
44-20-777-34158
Karen Frank
Managing Director
44-20-777-34721
Ken McGrath
Managing Director
44-20-313-41810
Slavko Andrejevic
Director
44-20-777-36727
Leveraged Finance: High Yield Capital Markets: Loan Capital Markets: Equity Capital Markets:
Jean-Francois Astier
Managing Director
Head of Global Leveraged Finance
212-526-1411
Peter Toal
Managing Director
Head of U.S. HY and Leveraged
Loan Syndicate
212-412-1176
Tim Broadbent
Managing Director
Head of U.S. Leveraged Loan
Syndicate
212-412-5575
Brian Reilly
Managing Director
212-526-8887
Paul Scansaroli
Director
212-526-1546
Europe:
Mergers & Acquisitions – Financial Sponsors:
Jennifer Worthington
Director, COO
212-526-7224
Corey LoVerme
Vice President
212-526-2570
Adam Gross
Vice President
212-526-0792
Newt Pate
Vice President
212-526-6457
Gary Matt
Managing Director
Head of Exclusive Sales
212-526-4664
David Kamo
Managing Director
212-526-9957
Stephanie Sze
Director
212-526-3791
Nick Parks
Director
212-526-7088
Asia Pacific:
Andrew Richards
Managing Director
Head of Financial Sponsors, Asia
Pacific
852-290-32208
Australia:
Lars Aagaard
Managing Director
61-2-933-46059
Australia:
Uyi Ighodaro
Director
61-2-933-46187
Securitized Products: Risk Solutions:
Cory Wishengrad
Managing Director
Co-Head of Securitized Products
Origination, Americas
212-526-1305
Manay Patel
Managing Director
212-526-1412