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Securitization People and Markets

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  • Wachovia Securities, Morgan Stanley and Goldman Sachs are prepping a $600 million credit facility for Chiquita Brands International to fund its $855 million acquisition of Fresh Express.
  • UBS wrapped up a repricing for PlayPower, a manufacturer of commercial playground systems. Pricing on the $160 million term loan was cut 150 basis points to LIBOR plus 3%.
  • UBS has completed the bank deal backing GTCR Golder Rauner's investment in NewQuest Health Solutions, a managed care organization.
  • UBS in London has hired Alan Ross, associate on the high-yield and leveraged finance team at ABN AMRO in London, as an associate director in leveraged finance origination and execution.
  • Mid-level fixed-income professionals are commanding salaries 20-25% higher this year based on positive technicals in the hiring market, according to a recruiter.
  • The co-head of fixed-income at UBS and a fixed-income director at hedge fund leviathan SAC Capital Advisors are leaving their firms to set up a new credit fund.
  • Mahony is a portfolio manager at J. & W. Seligman and manages $1.5 billion in investment-grade bonds from New York.
  • Credit Suisse First Boston and TD Securities have refinanced Nashville-based ClientLogic's bank debt with the terms changing during syndication.
  • Credit Suisse First Boston has rejiggered the terms on KGen Partners $475 million bank deal. Syndication of the deal for the Matlin-Patterson-sponsored company was launched at a bank meeting Feb. 15, with CSFB pitching a $225 million "B" loan and a $250 million second-lien piece.