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Grange Securities has launched its first self-managed collateralized debt obligation.

Fixed income giant PIMCO is exploring adding currency options to collateralized debt obligations that reference debt denominated in a range of different currencies.

Credit-default swap spreads on Sabre Holdings Corp. blew out after the world's largest travel-services provider announced Tuesday it had agreed to a private equity acquisition.

Calyon has hired David Perry, a credit structurer at Barclays Capital, as director and head of synthetic structuring for the Americas in New York. He joined the French bank two weeks ago and reports locally to Zain Abdullah, managing director and head of credit and derivatives in New York, and globally to Rayas Richa, global head of structured credit in London. Reached at Calyon, Perry declined comment.

Priya Arora, executive director and co-head of collateralized debt obligations at Calyon in London, has left the firm. She reported to Loic Fery, global head of credit markets and CDOs at Calyon in London, who did not immediately return calls about her replacement. Reached on her cell phone, Arora declined comment on the reasons for her departure and on her destination.

Companies with free cash flow and strong asset coverage are important to Gary Rodmaker, managing director and portfolio manager at Cincinnati-based Summit Investment Partners.

Two loan-only credit default swap contracts may soon be canceled as the underlying loans are taken out by the issuers, a first in the continually growing LCDS market.

Where's the eggnog?...

Investors are poring over a handful of pharmaceutical deals that came to market last week.

Netherlands-based Rabobank last week pulled a $225 million portfolio of food-industry credits from auction after a tepid response from the market.

The following charts show the top five advancers and decliners in terms of % moves in the loan, bond and credit default swap markets for the previous week.

Tall Tree Investment Management was preparing its first collateralized loan obligation ­ a $300 million deal called Founders Grove CLO Ltd.