Search results for

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

Edison Mission Midwest Holdings' loan has been the talk of the secondary market this week after pieces of the company's credit traded out of the 90s into the 87 - 87 1/2 context following a bank meeting last week. A slightly less than $10 million piece was said to have traded in that range on Tuesday. The details of the bank meeting could not be determined, but there are rumors that a number of banks are looking to sell, which eerily reminds investors of the Mirant Corp. situation, market players noted. Whether or not commercial banks are ready to bail out of the name is in question, one trader said.

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.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

Australian credit derivatives trading volumes have fallen by around a third in recent months as spreads have come in but have still not attracted protection buyers. "It's almost becoming another Japan," said one credit trader at a European house. As in Japan the lack of protection buyers, such as local banks, could make it a one-sided market and hurt volumes even more.

Loren Norton, a credit derivatives trader at ABN AMRO in New York, has moved to a similar position at Credit Suisse First Boston after less than a month at the Dutch bank. Before joining ABN Norton was a credit derivatives trader at Morgan Stanley in New York (DW, 7/20). Norton referred calls to John Gallagher, spokesman in New York, who said Norton is filling a newly created seat and has been hired as part of an effort to expand the firm's client coverage. Norton reports to David Carlson, managing director and head of the group-of-20 credit derivatives desk. Carlson confirmed the hire.

Credit-default swap spreads tightened on British American Tobacco last week following its purchase of Italy's state-owned tobacco company, Ente Tabacchi Italiani. BAT acquired ETI on July 16 for EUR2.3 billion (USD2.64 billion), EUR800 million more than the market had predicted.