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Securitization People and Markets

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  • SunTrust and CoBank are in the market with a $225 million refinancing for rural phone company D&E Communications.
  • UBS and Deutsche Bank are pitching a $300 million facility backing Caxton-Iseman Capital's $570 million acquisition of Ply Gem Industries, a subsidiary of Nortek.
  • Rick Kammler, a director in loan sales at UBS, has left the firm.
  • The following is a list of prominent personnel moves from around the U.S. and European fixed income markets.
  • Ares Management is raising a hedge fund that will consist of loans, bonds and special situation assets, in an attempt to capture the billions of dollars that are being allocated to the hedge fund sector.
  • UBS is in the market with a $182.5 million recapitalization for ILC Industries backing a dividend for the sponsor Behrman Capital.
  • Syndication launches this week for the euro-denominated loans backing Bain Capital's E1.4 billion acquisition of Deutsche Bahn's Brenntag unit.
  • Roseburg Forest Products Co. is refinancing its revolver and putting in place its first "B" loan.
  • Centennial Communications is able to achieve near-term cash demand relief largely through a new credit facility that will allow the company to reduce its amortization payments by approximately $80 million through fiscal 2005.