US HY CLOSE-Two high-yield issuers tap market for US$2bn

By Mike Gambale

NEW YORK, June 22 (IFR) - Here's a recap of primary issuance in the US high-yield market on Thursday:

Number of deals priced so far today: 1

Amount that was raised so far today: US$1bn

Expected to price later today: 1

PRICED:

BALL CORP (NYSE: BLL - news)

Ball Corp, existing ratings Ba1/BB+, announced a US$1bn 10-year NCL senior note SEC-Reg (Madrid: SL001.MC - news) offering via BAML(left)/DB/GS (KSE: 078935.KS - news) /KEY/MIZ/RABO. Co-managers are ANZ/BNP (Paris: FR0000131104 - news) /CA (NasdaqGS: CA - news) -CIAB/MUFJ/PNC/SANT/SMBC/TDS/UNI/RB INT'L/BARC/WILL. MWC T+50bp. UOP: to repay borrowings under its revolving credit facility and the balance, if any, for general corporate purposes. BIZ: Supplies innovative, sustainable packaging solutions for beverage, food and household products customers.

WHISPER: 5.25% area

PRICE TALK: 5.25% area

PRICED: US$1bn. Cpn 5.25%. Due 7/125. Ip par. Yld 5.25%. +290bp vs. 2.125% 5/15/25 UST. MWC T+50bp. US$101 COC put. First pay 1/1/16. Settlement date 6/25/15. Cusip # 058498AT3.

EXPECTED TO PRICE LATER TODAY

AERCAP

AerCap Ireland Capital Ltd/AerCap Global Aviation Trust, existing ratings Ba2/BB+, announced a US$800m 2-tranche SEC-Reg senior note offering via CS/DB/GS. Joint-bookrunners are BARC/BAML/CITI/CA/JPM/MIZ/MS/RBC (Other OTC: RBCI - news) /UBS (NYSEArca: FBGX - news) /WFS. Co-managers are BNP/FITB/HSBC/STRH. Structure will consist of a 5-year NCL and a 7-year NCL. US$101 COC put. MWC T+50bp. UOP: Acquire, invest in, finance or refinance aircraft assets,repay indebtedness and GCP. BIZ: AerCap (AER) is the world's largest aircraft leasing company after acquiring International Lease Finance Corp. in 2014. It is headquartered in the Netherlands.

WHISPERS: 5-year 4.375% area, 7-year 4.875% area

PRICE TALK: 5-year 4.375% area, 7-year 4.75% area

LAUNCH: US$1bn (upsized from US$800m) 2-part

- US$500m 5-year at 4.250%

- US$500m 7-year at 4.625%

PIPELINE:

ENDO INTERNATIONAL (NasdaqGS: ENDP - news)

Endo International, rated B1/B(exp), announced a US$1.435bn senior unsecured note offering via BARC(left)/DB/CS/CITI. Co-managers are BAML/DNB (Other OTC: DNBHF - news) /MS/RBC/SMBC. Roadshows Monday 6/22 - New York (Group Lunch), Tuesday 6/23 - Conference Calls, Wednesday 6/24 - Conference Calls, Pricing thereafter. 144a/RegS for life. US$101 COC put. Covenants same as existing 2025 notes. Special Redemption: If acquisition is not consummated prior to Feb 12, 2016, Issuers will redeem Notes at 100% plus accrued interest.

UOP: together with the proceeds of new senior secured credit facilities and cash on hand, to fund the purchase price of the previously announced acquisition of Par Pharmaceutical Holdings, Inc. ("Par"), as well as for repayments of indebtedness of Par and certain transaction expenses. Endo intends to use any remaining proceeds for general corporate purposes, including acquisitions and debt repayments. BIZ: global specialty healthcare company, Headquarters Dublin, Ireland (Other OTC: IRLD - news) and Malvern, Pennsylvania, U.S.

WHISPER: Low-to-mid 6.00%

TI AUTOMOTIVE (OMEGA US SUB)

TI Automotive (Omega US Sub), Caa1/B, announced a US$550m 8-year nc3 senior notes via CITI(left)/JPM/BARC/MIZ/GS/NOM/RBC/UBS.

Roadshow schedule: Wednesday(6/17): NYC 1:1's, with 12pm Group Investor Lunch, Thursday (6/18): Boston 1:1's, with 12pm Group Investor: Lunch, Friday (6/19): NJ / NYC 1:1's, Monday (6/22): LA area 1:1's, Tuesday (6/23): Investor Calls, Wednesday (6/24). Investor Call: 12:00pm Eastern, Wednesday, June 17th, NYC Investor Lunch: 12:00pm Eastern, Wednesday, June 17th, Boston Investor Lunch: 12:00pm Eastern, Thursday, June 18th. Expected pricing on Wednesday (24Jun).

First call at Par + 75% coupon, stepping down thereafter). Equity clawback 40% of aggregate principal amount at Par plus the coupon for the first 3 years. US$101 COC put. 144a/RegS for life. UOP: Partially fund the acquisition of TI Automotive. BIZ: TI Automotive develops, manufactures and supplies automotive fluid storage, carrying and delivery systems.

WHISPER: 7.75 - 8.00%

UNIVAR USA INC

Univar USA Inc, rating tbd, announced a US$400m 8-year nc3 senior unsecured note offering via BAML(left). Roadshow begins on Friday, June 19th, Friday - New Jersey, Monday - New York, Tuesday - Boston, Wednesday - Pricing. US$101 COC put. Equity clawback: For the first 3 years, up to 40% at par plus the coupon. 144a for life. UOP: Net proceeds from this offering, together with the borrowings under the New Senior Credit Facilities, will be used to refinance certain existing indebtedness under the existing senior secured credit facilities. BIZ: Univar (NYSE: UNVR - news) is a leading global chemical distributor and provider of innovative value-added services.

INTREPID AVIATION

Intrepid Aviation Group Holdings, LLC., Not rated, announced a US$125m 2-year nc1 (first par call +50%) senior notes 144a/RegS without registration rights offering via JEFF (sole) books. Roadshow through Thursday. Expected to price sometime this week. UOP: General corporate purposes including the purchase of aircraft. BIZ: Global leasing company that acquires and leases primarily wide body commercial passenger aircraft under long-term leases to a diverse group of airlines throughout the world.

GLOBO MOBILE INC

Globo Mobile Inc (Globo Plc (LSE: GBO.L - news) ), rated BB- by S&P, announced a US$180m 5-year nc2 senior secured note offering via sole-bookrunner Imperial Capital. International co-manager is ISM Capital LLP. Roadshows Starts Friday, June 19th in London, London breakfast on Tuesday, June 23rd NYC luncheon on Thursday, June 25th. 144a/RegS w/o reg rights. Call schedule: NC2. Thereafter callable at 3/4 coupon declining ratably every six months. UOP: To refinancing existing debt and for general corporate purposes. BIZ: U.K.-based Globo PLC, an international provider of enterprise mobility management and telecommunications software solutions.

MY ALARM CENTER

My Alarm Center announced a US$265m 5-year nc2 senior secured second lien note offering via sole-book Imperial Capital (Other OTC: CGHC - news) . Road shows begin Tuesday (09Jun) in New York, NYC luncheon on Thursday, June 11th. 144a/RegS w/o reg rights. Call: NC2. Thereafter callable at 3/4 coupon declining ratably every six months. UOP: the credit facility will be used to refinance existing debt, pay fees, and fund general corporate purposes. BIZ: Leading provider of security alarm and home automation solutions for primarily residential households in the United States with a high quality subscriber portfolio of 185,000 subscribers.

UPDATE: Rated B3/B-.

UPDATE #2: Whisper 9.00% area. Pricing expected this week (Reporting By Michael Gambale; editing by Shankar Ramakrishnan)