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Securitization People and Markets

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  • Pike Electric, the largest electrical contractor in the Eastern U.S., has drawn in $350 million for a planned $300 million "B" loan, which will fund the acquisition of a competitor.
  • Syndication is set to launch tomorrow for a $185 million facility for Yonkers Raceway.
  • Citibank is in the market with an amendment to cut the spread on FMC Corp.’s $243 million “B” loan by 75 basis points to LIBOR plus 1 3/4%.
  • Investors in bank loans are looking forward to a wave of leveraged buyouts that will bring paper to a market where demand has been outpacing supply for well over a year.
  • J.P. Morgan has retained its top position for the second year in a row in Institutional Investor's 2004 All-Europe Fixed-Income Research Team.
  • Paul Nicholson, a collateralized mortgage obligation trader at Merrill Lynch in New York, has left and plans to join Amherst Securities, a broker-dealer in Greenwich, Conn., according to Sean Dobson, president and ceo in Austin, Texas.
  • Credit Suisse First Boston has hired James Curcio, executive director, credit sales at Morgan Stanley in New York.