HIGHYIELD CLOSE-Three issuers raise US$2.35bn in HY primary

* Koppers upsized to US$500m

* Most actively traded: Avaya 7% 2019s

* Park, Radiate and Pattern set to price Friday

* Park Aerospace US$3bn two-part launched

* Radiate sets talk at 6.75% area

* Pattern sets talk at 5.75-6.00%

By Mike Gambale

NEW YORK, Jan 19 (IFR) - Below is a recap of primary issuance activity in the US high-yield market on Thursday:

Number of deals priced: 3

Total (LSE: 524773.L - news) issuance volume: US$2.35bn

KOPPERS INC

Koppers Inc, rated B1/B+, announced a US$400m 8yr nc3 senior note offering via WFS(left)/PNC/BAML/FITB. Co-managers are MUFG/CITZ/BMO/KEY/HUNT. 144a for life. First (Other OTC: FSTC - news) call @ Par + 75% of coupon.

UOP: To repurchase Koppers' US$300m senior notes due 2019 and related fees and expenses. BIZ: Headquartered in Pittsburgh, Pennsylvania, and is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds.

Whisper: 6.25-6.50%

PRICE TALK: US$500m (upsized from US$400m). 6.00-6.25%.

PRICED: US$500m. Cpn 6.00%. Due 2/15/25 NC3. Ip par. Yld 6.00%. +359bp vs. 2% 2/15/25 UST. MWC T+50bp. Call schedule: 2020 at 104.5%, 2021 at 103%, 2022 at 101.5%, 2023 and thereafter at par. Equity clawback up to 35% at 106% prior to 2/15/20. US$101 COC put. Settlement date 1/25/17. First pay 8/15/17. Cusip # 500605AH3.

VECTOR GROUP (NYSE: VGR - news)

Vector Group Ltd., rated Ba3/BB-, announced a US$850m 8-year nc3 senior secured notes via JEFF (sole). 144a/RegS without registration rights. UOP: Together with US$44m of new common equity, refinance 7.75% notes due 2021 and GCP.

BIZ: Engaged in manufacturing and distribution of cigarettes in the United States and the real estate market including real estate brokerage and investment management services.

UPDATE: Whisper: Low to mid 6%s.

PRICE TALK: 6.25% area

PRICED: US$850m. Cpn 6.125%. Due 2/1/25. Ip par. Yld 6.125%. MWC T+50bp. First pay 8/1/17. Equity clawback 40% at 106.125% prior to 2/1/20. US$101 COC put. Call schedule: 2020 at 103.063%, 2021 at 101.531%, 2022 and thereafter at par. Settlement date 1/27/17. Cusip # 92240MBF4.

ARDAGH PACKAGING

Ardagh Packaging, expected ratings B3/CCC+, announced a US$1bn 8-year nc3 senior notes via CITI(left)/BAML/DB. US$101 COC put. 144a/RegS. MWC T+50bp. Equity clawback up to 40% at par plus the coupon for 3-years. UOP: Along with cash from balance sheet to repay USD 6.25% senior notes due 2019 and partially repay USD floating-rate senior secured notes due 2019. BIZ: Ardagh Group is a Luxembourg-based producer of glass and metal products.

PRICE TALK: 6.00% area

PRICED: US$1bn. Cpn 6.00%. Due 2/15/25. NC3. Ip par. Yld 6.00%. +372bp vs. 2.25% 12/31/23 UST. First pay 8/15/17. Call schedule: 2020 at 104.5%, 2021 at 103%, 2022 at 101.5%, 2023 and thereafter at par. US$101 COC put. Equity clawback 40% at 106.00 until 2/15/20. MWC T+50bp. Settlement date 1/30/17. Cusip # 03969AAL4.

PIPELINE:

PATTERN ENERGY GROUP

Pattern Energy Group Inc announced a US$350m 7-year nc3 senior notes via MS(left)/BAML/BMO/CITI/RBC. Co-managers are SMBC/MUFG. Investor (LSE: 0NC5.L - news) call at 10:30am. MARKETING: New York Group Lunch, Date: Tuesday, January 17, 2017. Boston Group Breakfast Date: Wednesday, January 18, 2017. Pricing expected later this week. 144a/RegS for life. UOP: To partially fund Broadview acquisition, partially repay borrowings under the Revolving Credit Facility related to Armow acquisition, with any balance to finance other green projects, and pay related fees and expenses. BIZ: independent power company.

Whisper: 6% area

PRICE TALK: 5.75%-6.0%. Books close at 5pm ET today (except West Coast accounts w/ roadshow meetings, 10am ET tomorrow), and pricing on Friday

PARK AEROSPACE

Park Aerospace Holdings Ltd, ratings tbd, announced a US$ 2-part senior note offering via UBS (LSE: 0QNR.L - news) (left)/MS/BARC/BNP (Paris: FR0000131104 - news) /CA (Frankfurt: A0JC59 - news) /JPM/STRH. Co-managers are DVB/FITB/GS/LOOP/MUFG/NAB/RBC. Structure will consist of a 5.5-year NCL and a 7-year NCL offering. Roadshow Starts Monday, January 17th in New York, pricing expected thereafter.144a/RegS w/reg rights. UOP: To fund the acquisition of C2 Aviation Capital LLC, the commercial aircraft leasing business if CIT Group, Inc. BIZ: Park Aerospace Holdings Limited was set up the 13th of September 2016.

Whisper: 5.5-year 5.00-5.50%, 7-year 5.50-6.00%

PRICE TALK: 5.375% Area / 5.75% Area, SIZE: US$1.5bn 5.5Yr / $1.5bn 7Yr. TIMING: Books close Thursday, January 19 at 3:00 P.M. ET, (COB for West Coast accounts).

LAUNCH: US$3bn total. Books close Thursday, January 19 at 3:00 P.M. ET, (COB for West Coast accounts). Pricing expected Friday (20Jan).

- US$1.75bn 5.5-year at 5.25%

- US$1.25bn 7-year at 5.50%.

RADIATE HOLDCO LLC

Radiate Holdco LLC, rated CCC+ by S&P, announced a US$400m 8yr nc3 senior note offering via UBS(left)/CS/DB/MS. Roadshow (HKSE: 0888-OL.HK - news) Starts Tuesday, January 17th in New York, pricing Friday, January 20th. 144a/RegS for life. UOP: from the term loan, notes, and about $548 million in sponsor equity cash to fund the $2.25 billion acquisition, pay related fees and expenses, and return cash to balance sheet. Help fund TPG (Taiwan OTC: 6521.TWO - news) acquisition of RCN Telecom. BIZ: Newly formed U.S. cable operator.

Whisper 7% area

PRICE TALK: 6.75% area. Books close at 10:30am on Friday (20Jan), pricing thereafter.

HEXION 2 U.S. FINANCE CORP

Hexion 2 U.S. Finance Corp, expected ratings B3/CCC+, announced a US$460m 5-year nc2 1st priority senior secured notes via JPM(left)/CITI/BAML/CITZ/CS/DB/GS/WFS. Investor call at 11am on Thursday, with pricing expected Monday (23Jan). 144a/RegS for life. UOP: Redeem or repurchase existing 8.875% Sr Sec Nts due 2018, GCP. BIZ: Hexion Inc., previously Momentive Specialty Chemicals Inc., is a chemical company based in Columbus (LSE: 0NPJ.L - news) , Ohio. Hexion is the global leader in thermoset resins.

ALPHA (Shenzhen: 002292.SZ - news) 3 B.V.

Alpha 3 B.V. (Atotech), expected ratings Caa1/CCC+, announced a US$425m 8-year nc3 senior note offering via JPM(left)/BARC/C/CS/HSBC/NOM/RBC. Roadshow starts Monday, January 23, pricing expected Thursday, January 26. 144a/RegS for life. First call at par plus 50% coupon. UOP: Finance Carlyle's acquisition of Atotech (spin-off from Total. BIZ: Leading global supplier of specialty chemicals for high-tech applications.

AIRXCEL INC

Airxcel Inc announced a US$300m 5-year nc2 senior secured note offering via JEFF(left)/DB. Roadshow schedule: Tuesday - January 24th, 2017, Thursday - 1/19 - Los Angeles, Friday - 1/20 - Global Investor Call, Monday - 1/23 - New York, Tuesday - 1/24 - Boston. Friday - January 20th - 11:30 AM EST. 144a/RegS w/o reg rights. UOP: To refinance existing debt and fund a distribution. BIZ: Leading designer, manufacturer, and distributor of recreation vehicles.

EXTENDED PIPELINE

BUENA VISTA GAMING AUTHORITY

Hearing a US$200m 5-year nc2 deal is being sold via Jefferies. Roadshows are expected to conclude this week, with pricing expected thereafter. The 5-year nc deal is expected to be rated in the low single-Bs (BSE: BSLIMITED.BO - news) . (Reporting by Mike Gambale; editing by Shankar Ramakrishnan)