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Securitization People and Markets

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  • Rahul Parulekar has left Bear Stearns in New York where he was an adjustable-rate mortgage strategist and has started in a similar role in structured finance research at Citigroup Global Markets.
  • Rajiv Sobti, formerly a managing director and co-head of fixed income at BlackRock Financial Management, resigned last week and will join Vega Asset Management, a macro hedge fund with trading offices in Madrid and London.
  • Syndication of a $325 million facility for Jackson-Miss.-based telecommunications company Telepak launched last Thursday.
  • Two salesmen left Credit Suisse First Boston's mortgage-backed securities group at the end of last month.
  • Wachovia Securities is coming to market with a $550 million refinancing for Transwestern Pipeline Co. after a three-month delay caused by Enron's court case.
  • UBS has hired Obi Nwokorie, formerly of Credit Suisse First Boston, for its structured finance team in New York.
  • Pricing flexed down 25 basis points to LIBOR plus 21/4% on U.S. Shipping Master's (USSM) $200 million term loan.
  • American Express Asset Management is believed to be selling off assets quietly in mini auctions with the help of J.P. Morgan and other agents.