Securitization People and Markets

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

Syndication of pizza delivery franchise Domino's new $685 million secured credit launched last week and received strong investor reception, according to market players. An exact subscription level could not be ascertained. The deal, led by J.P. Morgan, includes a six-year, $125 million revolver and a seven-year, $560 million term loan, and is priced in the LIBOR plus 31/4% range. A $450 million note deal also backs the recapitalization plans.

Merrill Lynch has hired Greg Margolies, an ex-employee of The Carlyle Group, indicating the firm may be moving back up the leveraged finance ladder. Jack Mann, global head of leveraged finance origination, has brought Margolies back to Merrill, where he was a banker before moving to Carlyle. Margolies, who was most recently at DB Capital Partners, will focus on corporates, financial sponsors and to some extent distressed debt bond investors, said a Merrill spokesman. He declined to elaborate on the role. One source said he was going to cover vulture firms and hedge funds that are taking control of companies. Calls to Margolies and Mann were not returned.

Colfax Corp.'s $315 million credit was slightly tweaked before wrapping up late last week. The second lien "C" term loan was increased by $5 million to $45 million, while the six-year "B" loan was decreased by $5 million to $220 million, according to a banker. Merrill Lynch leads the credit, which backs the pump and power transmission product maker's acquisition of Germany-based pump producer Netzsch Group for $113.4 million. The banker added that the modest increase in the "C" piece reflected higher demand for the LIBOR plus 61/4% priced loan. Call protection at 103 and 1011/2 was also added in years one and two, he noted. The "B" loan priced at LIBOR plus 33/4% and the "B" loan amortization schedule was also augmented, the banker stated.