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Securitization People and Markets

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  • Credit Suisse First Boston is in the market with a $350 million refinancing package for Primary Energy earmarked for institutional investors, which will allow it to pay down project-level debt and also fund a $100 million dividend payment to its sponsor American Securities Capital Partners.
  • Michelle Ransley, a director in credit sales at Dresdner Kleinwort Wasserstein in London, has resigned.
  • Goldman Sachs and Wells Fargo are in the market with a $275 million amended and restated credit facility for VCA Antech.
  • Increased lender appetite and limited demand have reinvigorated competition in the Latin American syndicated loan market, and companies are cashing in on cheaper pricing and extended tenors.
  • Bear Stearns is in the market with a $175 million “B” loan for magnet supplier Magnequench that has a bond covenant package.
  • UBS has added James Cafferty and Richard Joyce to strengthen its fixed-income salesforce, according to Jon Bass, managing director and U.S. head of distribution.
  • Wachovia Securities has united its high-yield bond and leveraged loan groups and initiated a search to fill a new position overseeing the combined division, according to sister publication Corporate Financing Week.
  • The following is a list of prominent personnel moves from around the U.S. and European markets.