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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.

Eric Taub, a former managing director in charge of research for syndicated finance at SunTrust Bank, moved over to Wachovia Securities, where he began work last Monday. Taub is now a senior v.p. and risk portfolio management leader working in Wachovia's Atlanta satellite office. He is reporting to Russell Playford, the senior v.p. in charge of portfolio management at Wachovia. An official familiar with the situation said Taub will be working on market-oriented solutions in portfolio management.

Wachovia Securities is holding off on its efforts to syndicate a $350 million refinancing for Post Properties, given the chaos surrounding the real estate investment trust's management, according to LMW sister publication, Real Estate Finance & Investment. The bank, acting as lead arranger and administrative agent, had been fresh from a bank meeting when the proxy-fight at the Atlanta-based REIT began, according to David Blackman, director and manager of real estate syndications at the bank. "The proxy fight came up unexpectedly and since it is not a pending maturity, we would get a much better execution if we waited," he said.

Owens-Illinois' $2.1 billion refinancing deal has already gained commitments, with bankers expecting that the $600-700 million "B" loan could be oversubscribed before the meeting this Wednesday. One banker said several lenders were in on the facility even before any structural details were announced. Another banker said the credit's structure was still being ironed out late last week. He declined to specify pre-launch commitment levels on the deal. The structure is set for a $1.3-1.4 billion pro rata portion that includes a revolver and an "A" piece both priced at LIBOR plus 31/4%. Another banker said the "B" loan would be in the $700 million range with a spread of LIBOR plus 31/2%. This would be at the low-end of the initial LIBOR plus 31/2-33/4% price talk for the tranche. He added that the institutional piece carries a 1/4% up-front fee.