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Influential banker helped shape European levfin market in 35 year career
Gordon Houseman moves firm four years after becoming partner
Changing one of IB bosses shows what Deutsche values
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Mark Betteridge is reportedly leaving Fortis Bank, where is head of secondary loans sales. As of yesterday (Thursday) he was still working at Fortis, but sources at the bank would not deny that he had tendered his resignation.
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Mike Weston has resigned from Morgan Stanley, where he was global head of debt syndicate, after 16 years. Weston ran European debt capital markets until last year. Morgan Stanley confirmed that he has left the firm to pursue new interests. The bank's employees were informed of his departure in an internal memo on Wednesday morning.
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Frank Quattrone finally parted ways with Credit Suisse First Boston this week after he failed to give evidence at an NASD inquiry into questionable banking practices. Quattrone, who until this week had managed to hang on to his position as head of CSFB's technology group, is under investigation by NASD, the securities and stockmarket regulator, over allegations relating to technology IPOs and misleading equity research.
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Banks and sponsors have wasted no time in mandating and launching project finance transactions this year. Alba's $500m 10 year facility was finally launched into syndication last week and the mandate to arrange the $1.35bn financing for Egyptian LNG was awarded two weeks ago, making it the first mandate of the year in the region.
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Mandated arrangers Bank Austria Creditanstalt and DZ Bank have launched senior syndication of the Eu75m five year bullet facility for HVB Bank Hungary. Commitments are due next week. The deal pays a margin of 22.5bp over Libor for years one to three and 25bp for years four and five. Some bankers say this is too tight and will force banks away from the deal.
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EuroWeek understands that Energis may increase its £725m debt facility. This will give the company breathing space as it negotiates with its creditors. Bank of America, Barclays, Dresdner Kleinwort Wasserstein, BayernLB, JP Morgan, Royal Bank of Scotland and WestLB arranged the original facility.