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Romita Shetty, a senior collateralized debt obligation official at RBS Greenwich, has resigned.

Structurers are looking at tranched constant proportion debt obligation structures in the junior mezzanine part of the credit stack.

Romita Shetty, a senior collateralized debt obligation official at RBS Greenwich, has resigned and is heading to Lehman Brothers in New York. It could not be determined what her new role would be by press time. Shetty was at RBS for two years and prior to that JP Morgan, where she was head of structured credit and alternative investments and global head of CDOs. She left JPMorgan in January of 2003 to take maternity leave. She had a hand in creating several innovative transactions, including BISTRO, which was one of the first large credit derivative securitizations.

Dealers in European loan-only credit default swaps appear set to agree on a contract that would allow for trades in both cancelable and non-cancelable forms.

Rabobank International has hired Arnaud Desombre, an independent commodities and futures trader, as head of equity derivatives trading for the Americas in New York. He will report to Mark Garbin, head of equity and fund derivatives for the Americas, a group formed earlier this year (DW, 5/12). The arm focuses on asset management, hedge fund, insurance company and pension fund clients and works closely with the London- and Hong Kong-based equity and fund derivatives teams led by Tony Turner.

Hedge funds are buying into Le-Nature's bank debt with the intention of suing agent bank Wachovia and the company's auditors, according to distressed traders.

MetroPCS Communications is planning to raise more than $400 million through an initial public offering just a few weeks after the Dallas-based wireless communications provider tapped the bank and high-yield markets.

Congratulations to Ben Lloyd of Barclays Capital who completed the New York City Marathon in three hours and seven minutes!

The price of Le-Nature's bank debt fluctuated wildly last week as hedge funds jumped into the name in force with the intention of suing agent bank Wachovia Corp.

The International Association of Credit Portfolio Managers last Wednesday sent a letter to the International Swaps and Derivatives Association expressing its support of the European cancellable loan-only credit default swap contract, setting up a faceoff over documentation.

The $295 million credit for fashion retailer J.Crew Group was pulled from the market after the company decided to delay its initial public offering.

-- Scott D'Orsi, portfolio manager at Feingold O'Keeffe Capital, about doing more collateralized loan obligations.