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Securitization People and Markets

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  • More juice was added to the second lien of Microcell Telecommunications' bank facility last week, while the first lien oversubscribed.
  • HSBC Securities USA has hired Walter Travalja, previously of Cantor Fitzgerald, as a managing director and head of securities finance for North America.
  • Pricing flexed down 25 basis points to LIBOR plus 23/4% on the $175 million "B" loan backing Ionics' acquisition of Ecolochem.
  • The following is a list of prominent personnel moves from around the U.S. and European markets.
  • The $600 million recapitalization deal for TransWestern Publishing that hit the market last week is already full, according to investors.
  • UBS and Bear Stearns last week launched syndication of a $405 million facility for JLL Partners' recapitalization of Builders FirstSource.
  • The Pantry has tapped Wachovia Securities to lead its $440 million bank debt refinancing.
  • The bank debt for Calpine Construction Finance Company II (CCFC II), now called Calpine Generating Company, traded around the 981/2 range in front of the company's announcement that a refinancing is in the works.