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Securitization People and Markets

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  • Carmike Cinemas was able to get a spread of LIBOR plus 31/4% on its five-year, $100 million second-lien loan.
  • Pricing was flexed down a further 25 basis points on the CIBC World Markets-led refinancing of Isle of Capri Black Hawk's $165 million term loan.
  • Pricing is said to be LIBOR plus 7% for the $13 million second-lien piece on the credit backing Olympus Partners' acquisition of Homax Products from Harbour Group.
  • Syndication is oversubscribed on The Goodyear Tire & Rubber Company's new $300 million term loan, which is being added to the company's existing $1.3 billion asset-based credit facility.
  • Artie DeGaetano, head of the high-yield trading team and a partner at Bear Stearns, resigned a couple of weeks ago due to family health issues.
  • Credit Suisse First Boston launched syndication last week for a $310 million recapitalization for Buffets.
  • Ricciardi joined Merrill early last year from Credit Suisse First Boston. He is a managing director and head of the global structured credit products group.
  • CONMED Corp. recently returned to the market to decrease the pricing on its $260 million term loan by 50 basis points.