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Securitization People and Markets

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  • The structure for the credit backing the acquisition of PanAmSat Corp. by a consortium of private equity firms led by Kohlberg Kravis Roberts & Co. has emerged.
  • Dan Derman, a v.p. with Bear Stearns, has moved from capital markets loan origination to sales in a new seat on the desk.
  • Bear Stearns launched syndication last Tuesday of a $260 million facility backing Allied Security's acquisition of Barton Protective Services. The deal comprises a $50 million revolver and $210 million "B" loan.
  • BNP Paribas is looking to hire a senior interest-rate sales professional for its new fixed-income sales desk in San Francisco, said Ken Austin, director and head of the desk.
  • Staple financing, where the advisors to a company that is on the block offer financing to potential buyers, is said to be on the rise, according to Corporate Financing Week, an LMW sister publication.
  • Martinez is a senior portfolio manager for asset-backed and mortgage-backed securities at Fortis Bank in Brussels. He helps to manage E25 billion in ABS/MBS globally.
  • Bear Stearns is in the market with an amendment for Scientific Games Corp. to cut the term loan spread down to LIBOR plus 2 1/2%.
  • Amol Prasad, asset-backed analyst at Morgan Stanley in New York, has moved over to the trading desk and will trade non-mortgage ABS, according to Michael Brown, managing director, co-head of ABS trading and capital markets in New York.