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Happy 50th Birthday to Mike Safko, a loan salesman at Credit Suisse, who last Thursday was serenaded on the trading floor by an Austin Powers impersonator.
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Jeremy Vogelmann, Lehman Brothers' loan-only credit default swap trader, left the firm last week to head to the New York desk of Barclays Capital.
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Investors and banks compromised on SunGard Data Systems' $4 billion "B" term loan, slicing pricing by 25 basis points in exchange for a year of soft call protection.
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This chart, provided by Citigroup Global Markets, tracks bid-ask prices for par credit facilities that trade in the secondary market.
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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.
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Lead banks rejiggered the loan and bond portions of the VNU N.V. financing (CIN, 7/24) and even increased pricing on the U.S. tranche, but some investors still want more concessions, either in the form of more spread or a new structure on the bank side.
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AXA Investment Managers Paris is bringing to market a pair of collateralized debt obligations which re-visit the group's established synthetic structures Jazz and Adagio.
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Bank of America has beefed up its equity financial products businesses with a raft of derivative appointments in London. Fourteen traders and marketers have started in new roles and key staffers have also been transferred from New York.
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Bank of America has promoted Benjamin Jacquard, head of hybrids and structured transactions credit trading in London, to global head of credit trading to replace Alex Bernand, who left for Deutsche Bank earlier this year (DW, 3/8).
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Derivative master agreements for renminbi-dominated contracts have been launched in China and they're expected to give greater certainty to the nascent market.
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Cindy Ferrara, managing director and head of hedge fund sales at Citigroup in London, has retired. Her last day in the role was July 14.
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Dominion Bond Rating Service is planning to double its London-based structured finance team by year end.