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Securitization People and Markets

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  • Private equity firm Wind Point Partners will use $216 million in bank debt and $72 million in preferred equity to fund its $287 million acquisition of United Subcontractors, a Salt Lake City-based company that installs insulation.
  • Wellspring Capital Management portfolio company JW Aluminum Co. is taking out its expensive mezzanine debt with lower cost bank debt led by Credit Suisse First Boston.
  • Microcell's bank debt will be paid down and existing equity investors paid out in full when Rogers takes control.
  • Amy Miller joined Scotia Capital last week to run the U.S. corporate finance and distribution group.
  • Nomura Securities International is bolstering its asset finance capital markets capability and recently hired Ali Ettehadieh as director to spearhead commercial asset-backed securitization in London.
  • Peabody Energy is looking to arrange a $1.35 billion package of loans to refinance and restructure existing borrowings, according to Power, Finance & Risk, an LMW sister publication.
  • Stan Sokolowski, head of loan trading at J.P. Morgan is London is moving to New York to take up a position in the investor client management unit.
  • Sovereign Bank has set up a loan syndications and trading group. William Maag, who was a managing director at Fleet Securities prior to the acquisition by Bank of America, is a senior v.p. and market manager.
  • Maxcor Financial Group, a broker-dealer in New York, has lost four more of its corporate traders and salesmen, bringing to at least five the number of corporate bond professionals it has lost in recent weeks.