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Securitization People and Markets

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  • Investment banks are gearing up to bid for the mandate to advise and lead Mirant's roughly $1 billion balance sheet refinancing, according to sister publication, Power, Finance & Risk.
  • Gary Ladolcetta has started at Commerce Bank in New Jersey as a managing director with responsibility for setting up a loan distribution business on a more formalized basis.
  • MetoKote Corp., the largest independent provider of industrial coating in the U.S., is adding debt to make dividend payments to private equity sponsor J.P. Morgan Partners or to repurchase no less than $30 million in stock.
  • Scotia Capital and Credit Suisse First Boston have shifted the tranche size and pricing on Weight Watchers International’s $500 million credit facility in the wake of oversubscription.
  • Sanjeev Handa is a managing director and head of more than $9 billion in asset-backed investments at TIAA-CREF in New York.
  • The price of default protection on companies linked with air travel jumped last week after a British Airways flight to Washington was grounded because of fears it was being targeted by terrorists.
  • Michael Rosenberg, co-head of the global credit collateralized debt obligation group at UBS Securities, has been transferred from the firm's Stamford, Conn. office to London.
  • Transwestern Pipeline has tapped Wachovia to lead its $550 million refinancing facility.
  • Credit Suisse First Boston plans to introduce an evaluation tool for corporate bond investors that incorporates correlated factors including equity volatility and credit default swap movements