US HY CLOSE-High-yield week tally goes over US$10bn

By Mike Gambale

NEW YORK, April 24 (IFR) - Here's a recap of primary issuance in the US high-yield market on Friday:

Number of deals priced so far today: 3

Amount raised: US$4.15bn

PRICED:

ZF NORTH AMERICA CAPITAL

ZF North America Capital, Inc, expected ratings Ba2/BB (p/s), announced a US$ benchmark 3-part senior unsecured notes via CITI(left)/BAML/HSBC/JPM. Structure will consist of a 5-year, 7-year and a 10-year. Roadshow (HKSE: 0888.HK - news) schedule (Citi to coordinate all meetings): Wednesday April 22 NYC group lunch at 12:00pm EST. Thursday April 23 - Boston 12:00pm EST. Expected to price week of April 27. 144a/RegS. Guarantor ZF Friedrichshafen AG. Make-Whole Call / M&A Call @ 101 / Special Mandatory Redemption @ 101 if acquisition not closed before January 4, 2016.

Clean-up call @ 100 if less than 20% of original principal remains outstanding. Change of Control Put @ 100. UOP: to refinance bridge loans from the company's acquisition of TRW last year. BIZ: ZF North America Inc. develops, produces, and sells transmissions, steering systems, axles, chassis components, and complete systems for passenger cars, commercial vehicles, and off-road machinery in North America.

PRICE TALK: 5-year notes: 4.25% area, 7-year Notes: 4.75% area, 10-year Notes: 5% area. Size: 5-year Notes: $1 billion, 7-year Notes: $1 billion, 10-year Notes: $1.5 billion. Timing: Order Books close at 11:00am Eastern today, Friday, April 24th. Pricing and allocations to follow thereafter today.

PRICED: US$3.5bn 3-part deal. MWC T+50bp. US$101 COC put. First (Other OTC: FSTC - news) pay 10/29/15. Settlement date 4/29/15.

- US$1bn. Cpn 4.00%. Due 4/29/20. Ip US$99.440. Yld 4.125%. +280bp vs. 1.375% 3/31/20 UST. Cusip # 98877DAA3.

- US$1bn. Cpn 4.50%. Due 4/29/22. Ip US$99.260. Yld 4.625%. +295bp vs. 1.750% 3/31/22 UST. Cusip # 98877DAB1.

- US$1.5bn. Cpn 4.75%.Due 4/29/25. Ip US$99.020. Yld 4.875%. +295bp vs. 2.00% 2/15/25 UST. Cusip # 98877DAC9.

TECHNIPLAS LLC

Techniplas LLC, expected ratings Caa1/B, announced a US$175m 5-year nc2.5yr senior secured notes via sole-bookrunner Jefferies. 144a/RegS for life. Expected to price later this afternoon. UOP: To refinance existing debt and fund a small acquisition. BIZ: Leading global producer of highly engineered and technically complex plastic, modules and subsystems for specific niche applications.

PRICE TALK: 10% area.

PRICED: USD175m. Cpn 10.000% Due 5/1/20 NC2.5. Ip par. Yld 10.000%. First pay 11/1/15. MWC T+50bp. Call schedule: 11/1/17 at 107.500%, 5/1/18 at 105.000%, 5/1/19 and thereafter at par. Equity clawback 35% at 110% prior to 11/1/17. Settlement date T+3 (4/29). Cusip #87854WAA1.

HORIZON PHARMA INC

Horizon Pharma Inc, B2/B-, announced a US$300m 8-year nc3 senior unsecured note offering via CITI(left)/JEFF. Co-managers are COWEN/SGUGG. 144a(for life)/RegS. First call at par plus 7%% coupon, declining ratably thereafter. Pricing expected Friday 24 April. Settlement date T+3.

UOP: to fund a portion of Horizon's planned acquisition of Hyperion Therapeutics (NasdaqGS: HPTX - news) , Inc. ("Hyperion"), repay the outstanding amounts under Horizon's existing $300 million credit facility and certain outstanding debt of Hyperion, and pay any prepayment premiums, fees and expenses in connection with the foregoing.

The proceeds from the offering of the notes will be held in escrow pending release in connection with the closing of the Hyperion acquisition. BIZ: Horizon Pharma plc (NasdaqGS: HZNP - news) is a specialty biopharmaceutical company focused on improving patients' lives by identifying, developing, acquiring and commercializing differentiated products that address unmet medical needs. The company is also planning a US$500m term loan facility.

WHISPERS: 7.00% area

PRICE TALK: 6.75% area. Size: US$475m (Upsized from US$300m). Term Loan will be downsized to US$400m (from US$500m). Additional proceeds ($75 million) will be used for general corporate purposes. Order books close end of day today, Thursday, April 23. Final pricing and allocations will be tomorrow, Friday, April 24 morning.

PRICED: US$475m. Cpn 6.625%. Due 5/1/23 NC3. Ip par. Yld 6.625%. +495bp vs. 1.75% 3/31/22 UST. Call schedule: 5/1/18 at 104.969%, 5/1/19 at 103.313%, 5/1/20 at 101.656%, 5/1/21 and thereafter at par. MWC T+50bp. US$101 COC put. Equity clawback 35% at 106.625% prior to 5/1/18. First pay 11/1/15. Settlement date 4/29/15. Cusip # 44052RAA3.

STILL EXPECTED TO PRICE TODAY:

OPTIMAS OE SOLUTIONS

Optimas OE Solutions, rated B3/B-, announced a US$225m 6-year nc3 senior secured note offering via MS(left)/STRH. Pricing expected next Friday (24Apr). Investor (Stockholm: INVE-A.ST - news) call Monday (20Apr) at 10:30am. NY group lunch Monday (20Apr) at 12pm, Boston Group Breakfast at 8am Wednesday (22Apr). 144a for life. UOP: Fund American Industrial Partners ("AIP") acquisition the OEM Supply segment of Anixter, Inc.

PRICE TALK: 8.75% area. Books close at 12:30pm, pricing thereafter.

PIPELINE:

21ST CENTURY ONCOLOGY INC

21st Century Oncology, Inc, a Florida corporation, announced a US$400m 144A (for life) 8-year non-call 3-year senior notes via MS, DB, Key and HSBC. Pricing expected Friday. UOP: Net proceeds of this offering, together with cash on hand and borrowings under the New Credit Facilities, to repay the Existing Term Loan, to redeem or repurchase Existing Notes, to pay fees and expenses related to this offering and the New (KOSDAQ: 160550.KQ - news) Credit Facilities and for general corporate purposes.

PRICE TALK: 10.5% area. Books close Monday, April 27th at 3pm EST; pricing thereafter. 35% equity claw down from 40%.

PRISIO ACQUISITION CORP

PriSio Acquisition Corp, Caa1/CCC+, announced a US$230m 8-year nc3 senior note offering via DB(left)/BMO/CS/GS (KSE: 078935.KS - news) /NOM. Roadshow begins Monday April 27 , pricing by end of week in conjunction with TLB. Investor call Monday. April 27 at 12:30 ET. US$101 COC put. Equity clawback 40% during the first 3-years. 144a/Reg (Madrid: SL001.MC - news) w/o reg rights. First call par plus 1/2 coupon. UOP: Finance the LBO of PrimeSource by Platinum Equity. The financing will also include a $300 million ABL Revolver and a $325 million TLB. BIZ: Leading two step building products distributor.

PETRA DIAMONDS (LSE: PDL.L - news)

Petra Diamonds US$ Treasury Plc, issue ratings B2/B+, announced a US$300m 5-year nc2 senior secured 2nd lien notes via RBC (Other OTC: RBCI - news) (left)/BARC. Roadshows begin April 27, with pricing expected week of May 4. First call at par plus 50% coupon. US$101 COC put. Equity clawback up to 35% during the first 2-year at par plus the coupon. 144a/RegS for life. UOP: To repay borrowings under existing Senior Secured Term Loans and Credit Facilities, and for general corporate purposes, including funding the new plant at the Cullinan mine. BIZ: Leading independent diamond mining group with a controlling interest in a diversified portfolio of five producing diamond mines.

THE CHEMOURS COMPANY

The Chemours Company, rating tbd, announced a US$2.5bn 3-part US$/Euro senior note offering via CS(left)/JPM/BAML/BARC/CITI/GS. Structure will consist of a US$1.125bn 8-year nc3, E350m 8-year nc3, US$1bn 10-year nc5. Timing: European roadshow begins Friday (4/24), US roadshow begins Wednesday (4/29), pricing early week of May 4. Make whole calls apply T+50bp, DBR+50bp, and nothing for the 3-tranche. 144a/RegS w/reg rights. US$101 COC put.

Equity Clawback up to 35% within the first 3 years| None Special Call, If the spin-off is not completed on or before 11/30/15, .redemption at 100% until 8/15/15, redemption at 101% thereafter.

UOP: Partially fund a dividend to DuPont and GCP. BIZ: After the Separation from DuPont, Chemours will be an independent, publicly traded company and a global provider of performance chemicals through three reporting segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. Chemours delivers customized solutions with a wide range of industrial and specialty chemical products for markets including plastics and coatings, refrigeration and air conditioning, general industrial, mining and oil refining. (Reporting by Michael Gambale; editing by Shankar Ramakrishnan)