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Securitization People and Markets

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  • J.P. Morgan and Bank of America launched syndication last week for a $650 million credit for Universal City Development Partners.
  • Jostens Intermediate Holding Corp. is in the market to cut the spread on its credit in what could be the fastest return ever for a repricing.
  • Lehman Brothers and CIT Group have jointly underwritten a $165 million second-lien loan for Primary Energy Holdings that funds the acquisition of a combined 270 MW of gas-fired co-generation facilities from Reservoir Capital Group.
  • Lehman Brothers is in the market with a seven-year, $250 million term loan for Magellan Midstream Holdings.
  • Merrill Lynch has set up a distressed equity desk that will work with its equity and debt teams.
  • Fred Alger Management, a buy-side firm with $500 million in taxable fixed income under management in New York, is looking to hire a portfolio manager to handle fixed-income and convertibles.
  • Millenium Partners, a $4.5 billion New York hedge fund, has added Jim Platek as a portfolio manager.
  • Credit Suisse First Boston launched repricings last week for Regal Cinemas and Roseburg Forest Products.
  • CIBC World Markets will lead the financing to back Ares Management's acquisition of BFMA Holding Corp., parent company of Marietta Corp.