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Securitization People and Markets

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  • Two investment-grade traders left HSBC Securities last week, which in turn picked up a trader and a junior analyst.
  • Claudio Phillips is rejoining the loan market as a senior managing director and head of the distressed bank debt trading group at The Seaport Group, as first reported on LMW's Web site last week.
  • Mark Landis has resigned from Credit Suisse First Boston in New York, where he had recently been a managing director and head of fixed-income sales for North America.
  • GE Capital last week launched syndication of a $113 million facility backing TA Associates acquisition of Youth and Family Centered Services (YFCS).
  • Wachovia Securities and Credit Suisse First Boston are set to lead a financing package backing Castle Harlan's acquisition of Caribbean Restaurants from Oak Hill Capital Partners, shifting gears on what would have been a dividend recap.
  • Deutsche Bank is in the market with a $245 million bank facility for Consolidated Container Co.
  • CKE Restaurants has been experiencing poor operating performance since acquiring the Hardee's brand in 1997, according to Standard & Poor's.
  • American Restaurant Group (ARG) is discussing refinancing alternatives on its bank debt and senior secured bonds with Jefferies & Co., said Bill Taves, cfo and assistant secretary of ARG.
  • Tower Automotive's first-lien was oversubscribed prior to its launch at a bank meeting last Thursday.