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Securitization People and Markets

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  • Littlejohn & Co. portfolio company Wyle Laboratories will significantly increase leverage to buy the aeronautics services business of General Dynamics Advanced Information Systems.
  • A bank meeting is scheduled for Jan. 10 to syndicate the $1.2 billion credit backing battery maker Rayovac Corp.'s $1.3 billion acquisition of pet and garden-products company United Industries Corp. Bank of America is the lead arranger on the credit.
  • ING has put its European loan management business ING Capital Management (ICM) up for sale. The London-based collateralized loan obligation shop is being sold separately from the U.S. loan business ING Capital Advisors (ICA), which is also on the block
  • A bank meeting is scheduled for Jan. 6 to launch syndication of Coventry Health Care's $450 million credit facility. The credit backs the company's $1.8 billion acquisition of First Health Group Corp.
  • Richard Munn, co-head of loan capital markets at Deutsche Bank in London, reportedly left the firm following the merger of its high-yield and investment-grade businesses.
  • CIBC World Markets is prepping a $650 million refinancing for Isle of Capri Casinos. The credit comprises a $400 million revolver and a $250 million "B" loan.
  • Allen is a senior portfolio manager at Bradford & Marzec and manages up to $500 million in sovereign debt from Los Angeles.
  • Ed Kearns was the first to move this year joining the loan sales and trading desk at UBS.
  • "Every transaction is different, different people bring different bargaining power to the table."--J.T. Knight, a partner with law firm Simpson Thacher & Bartlett, on the potential pitfalls of second-lien loans (1/26).