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Securitization People and Markets

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  • The Goodyear Tire & Rubber Company is looking to cash in on low interest rates and improved performance by refinancing its bank debt.
  • Hartford Investment Management Company is launching its first retail loan fund. The Hartford Floating Rate Fund will be managed by Michael Bacevich and John Connor.
  • First Trust Advisers and Highland Capital Management have teamed up to sell a closed-end retail loan fund to Canadian investors.
  • William Hughes, managing director, will head U.S. loan syndication at Lehman Brothers following the resignation of Steve Sterling.
  • Allied Waste Industries is putting in place a $3.45 billion credit facility, consisting of a five-year $1.55 billion revolver, a seven-year $1.45 billion term loan and a $450 million institutional letter of credit facility.
  • David Newby, head of European commercial asset-backed securitization at ABN AMRO in London and a well-known veteran of the European structured finance market, has left the firm.
  • Cantor Fitzgerald plans to add 50-100 more executives this year, most of which will be senior-level directors and v.p. hires, according to Irv Goldman, ceo of the firm's debt capital markets and asset management groups.
  • Deerfield Capital Management is planning to roll out five collateralized debt obligations this year including two CLOs.
  • Citigroup and J.P. Morgan have filled the books for Arizona-based Rural/Metro Corp.'s new loan.