IPO Calendar 2013: This Could Be the Biggest Week of the Year

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The third week of April is going to be a busy one for our IPO calendar. Six companies will be making their debut including some of the most anticipated offerings of the year so far.

The aftermarket has remained strong with recent offerings like Pinnacle Foods (NYSE: PF), which appreciated more than 20% following the IPO. As long as the equity markets remain stable and pricing in the aftermarket remains solid we should continue to see strong demand from institutional investors for IPOs.

Let's take a look at what investors have to watch in the IPO market next week.

IPO Calendar 2013: April Could be the Hottest Month

The week gets off to a busy start on Monday, April 15 with the debut offering of Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASIC). Hannon Armstrong is a specialty finance company for sustainable infrastructure products that lower energy costs and provide cleaner sources of energy.

The company intends to be taxed as a real estate investment trust (REIT) and will pass through most of its income to shareholders. It will offer 13.3 million shares between $14 to $16 in an offering managed by BofA Merrill Lynch, UBS Investment Bank and Wells Fargo Securities.

Wednesday, April 17 will bring the IPO of a fast-growing local grocer.

Fairway Group (Nasdaq: FWM) is a New York metropolitan-area grocer offering 13.7 million shares between $10 and $12 a share. Established in the 1930s as a neighborhood grocer, the chain has grown to 12 locations in the New York area with total sales of $554 million.

The company offers traditional grocery products in a addition to a wide range of specialty and organic foods and operates Fairway Wine and Spirit shops in three of their locations. The company claims that its combination of groceries, fresh convenience products and organic foods offer customers a shopping experience "Like No Other Market."

The company has been able to grow throughout the metro area and since 2009 it has more than doubled its store base by opening eight new stores.

At the midpoint of the range the offering will raise $133 million. The proceeds will be used to pay off the approximately $55 million dividend arrears on the series A and B preferred stock and the balance for new store openings. Credit Suisse, BofA Merrill Lynch, Jefferies and William Blair are the managers of the offering.

On Thursday, we will see one of the largest offerings of the week.

Intelsat Global Holdings S.A. (NYSE: I) plans to offer 21.7 million shares between $21 and $25 a share.

The company is the world's largest satellite service company and in the prospectus claims to have the most satellite capacity, orbital location rights and serve more customers in more countries than any of its competitors. The network services division is the largest providing 46% of 2012 revenues. This division provides services to many of the world's largest telecommunication companies including cellular backhaul services that allow emerging areas to connect to cellular networks by satellite. They also have over 150 value-added customers who use network services for corporate networks as well as broadband and Internet access for maritime operations.

Intelsat is also the largest provider of services to media organizations with a 21% share of the marketplace. These satellites provide programming transmission around the world for cable and satellite television providers. They are also a leading provider of services for special event programming such as the Olympics and other temporary events with global distribution. This division contributed 21% of total revenue for the year.

The bulk of the reminder of the company's revenues comes from their government services operations. They are the largest provider of satellite services to the U.S. government with 44% of the marketplace. The government sector is expected to be a growth market for Intelsat as the satellites are used for surveillance from drones and other aerial vehicles. The U.S. government is also expected to increase its usage of commercial satellite and services programs as a result of budget cuts and spending changes and this should benefit Intelsat's operations.

At the middle of the pricing range the company expects proceeds of $500 million. The proceeds will be used to pay down or repurchase its existing corporate debt. After the completion of the offering the current owners of Intelsat, private equity firms Beacon Hill Partners and Silver Lake Partners, will retain ownership of more than 75% of the shares in the company. Goldman Sachs, JPMorgan, Morgan Stanley and BofA Merrill Lynch are the joint managers of the IPO.

The last part of the week will feature one of the year's most anticipated offerings, which we will cover in more detail tomorrow. Check back for the details on what could be the biggest IPO of the year.

For our full 2013 IPO calendar outlook, check out this report.

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