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Securitization People and Markets

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  • UBS is leading a repricing for Horizon Lines that will shave 25 basis points off its existing spread.
  • J.P. Morgan and Bear Stearns are leading an $895 million facility for Wyndham International that will refinance existing debt and extend maturities.
  • Two UBS collateralized mortgage obligation traders have departed the firm and are headed to RBS Greenwich Capital.
  • Citigroup is leading a $1.4 billion credit line for LifePoint Hospitals in conjunction with its approximately $1.7 billion purchase of Province Healthcare.
  • Marni Joy, head of loan sales and proprietary trading at West LB, is said to be leaving the firm.
  • Private equity firm Kelso & Co. is taking out a $165 million facility to fund its $414 million acquisition of Insurance Auto Auctions. Bear Stearns and Deutsche Bank are leading the deal and spent last week on the road show backing the related $150 million high-yield bond deal.
  • Jeremy Blank, Morgan Stanley's distressed trader, has left the firm to move to Israel. Research analyst, Dan Yarsky is taking over his responsibilities.
  • Bentley is a London-based v.p. at PIMCO Europe and is responsible for its U.K. investment-grade credit portfolios.
  • Bear Stearns and Lehman Brothers are leading a $275 million deal for alarm monitoring company Protection One.