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Securitization People and Markets

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  • Bank of New York launched syndication last Wednesday for a $75 million credit backing LeCroy Corp.'s $81 million acquisition of Computer Access Technology Corp.
  • UBS is in the market with bank deals backing JLL Partners' leveraged buyout of CHI Overhead Door and the $768 million acquisition of Horizon Natural Resources Company by International Coal Group.
  • Brendan Lavelle, managing director in charge of interest-rate swaps and U.S. government trading at Morgan Stanley, has joined UBS Principal Finance as managing director in the interest-rate trading group.
  • Mark Rasimas, portfolio manager and trader at U.S. Trust in New York, has joined Wells Capital Management. Rasimas said he will work in a similar role as an asset-backed and commercial mortgage-backed securities analyst and trader.
  • Ares Capital is acquiring a $150 million portfolio of senior secured loans, mezzanine debt and equity coinvestments from Royal Bank of Canada.
  • Ares Capital is close to acquiring a $150 million portfolio of senior secured loans, mezzanine debt and equity investments in CDOs from Royal Bank of Canada.
  • MGM Mirage is launching a massive $6 billion loan this week to back its acquisition of Mandalay Resort Group, tapping into an extraordinarily liquid bank market.
  • Royal Bank of Scotland has hired three fixed-income salesmen for its Frankfurt office, bringing the team to five professionals in an effort to enhance distribution to German investors.
  • Goldman Sachs is in the market with a $215 million recap for Berkline/BenchCraft that will pay a dividend to Code Hennessy & Simmons.