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Deutsche Bank has hired Nick Letica and Charles Smart to strengthen its agency collateralized mortgage obligation trading desk. Ted Meyer, a Deutsche Bank spokesman, says the move is congruent with the firm's recent push to expand its MBS capabilities (BW, 7/8).

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

Lars Norell and Harin DeSilva, collateral debt obligation structurers, have joined Merrill Lynch from Credit Suisse First Boston, a Merrill Lynch insider says. They follow their former boss from CSFB, Chris Ricciardi, the newly appointed global head of CDO origination and structuring, who also recently joined Merrill (BW, 3/10).

Merrill Lynch has filled a collateralized mortgage obligation trading slot by bringing CMO analyst Mike McCarthy onto the desk from its research area, according to Ken Haeckel, the firm's U.S. fixed-income strategist. McCarthy confirmed the move but declined further comment. He will report to CMO chief and residential mortgage-backed securities department head Andy Beal. Haeckel says no decision has been made about picking a replacement for McCarthy yet, or who would fill his research duties in the interim.

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

UBS Warburg has hired Bryan Boews from Credit Suisse First Boston to run its hybrid adjustable rate mortgage securities desk, according to people familiar with the matter. Boews had already left CSFB and was unavailable to comment last week. A CSFB insider says Boews received "a full court press" from CSFB to stay, including pressure from senior MBS and fixed-income department officials. Indeed, one individual familiar with the process says, "Bryan went in to resign mid-morning and was still in talks by 5 [p.m.]." This official says that Boews sought a contract to stay, but that senior CSFB officials were hesitant to offer one, offering oral assurances of compensation level instead. Matt Ruppell, head of MBS at Credit Suisse First Boston, declined to comment.

The baseball season is a week away, bringing with it pitchmen as well as pitches. FleetBoston Financial may consider bringing back two of its favorites: New York Yankees shortstop Derek Jeter and Boston Red Sox shortstop Nomar Garciaparra. The Fleet Homelink ads in which the rival shortstops appeared last season drove in twice as many customers to Fleet's online banking program. During the ad campaign the rate of online enrollment spiked from 50,000 to 100,000 per month, reportedly more than doubling the number of customers to a current 3 million. "They are excellent role models," said Rena DeSisto, senior v.p. of corporate marketing and communications, and confessed Yankees fan. Nomar's better.

This chart, provided by Citibank/Salomon Smith Barney Inc., tracks bid-ask prices for par credit facilities that trade in the secondary market. It also tracks facility amounts, ratings, pricing and maturities.

Microcell Telecommunications' bank debt was a touch stronger last week as the company received both creditor and court approval to pursue its plan of reorganization. A $5 million piece of the bank debt traded at 71 early in the week and LoanX had the "B" tranche quoted at 70 1/3- 72 by the end of the week. Last month, Mircocell's bank debt traded as high as 77-79 before settling down in the 69-71 context when buying pressure subsided.

Michael Milken and Larry Ellison's Knowledge Universe subsidiary Knowledge Learning Corp.'s (KLC) proposed acquisition of Aramark Corp.'s Educational Resources (AER) division carries low integration risk and will broaden customer demand for the childcare provider. These factors are reflected in Moody's Investors Service's Ba3 rating of the company's $260 million bank credit facility, which will help fund the $265 million acquisition. Compared to the usual merging of two companies, KLC offers a consistency in product that will allow the merger to take place without too much disruption, explained Paul Aran, v.p. and senior analyst at Moody's. "There is not the problem of two different products," Aran said.

A bearish outlook on arbitrage for collateralized loan obligations is not stopping the rolling tide of managers looking to raise debt, with both Pacific Investment Management Co. (PIMCO) and GoldenTree Asset Management preparing to market new CLOs. Morgan Stanley is leading the GoldenTree Loan Opportunities II deal, while J.P. Morgan is the underwriter for the new PIMCO deal called Waveland INGOTS, with both vehicles approximately $400 million. The shops join a multitude of both established managers and new entrants such as Rabobank International, Sankaty Advisors, Callidus Capital Management and Ares Management in the pipeline. Loan officials at PIMCO declined comment on a potential transaction. GoldenTree's lead loan portfolio manager Fred Haddad was unavailable for comment.

The Spiegel Group has obtained access to $150 million of a $400 million debtor-in-possession facility led by Bank of America. Spiegel filed for Chapter 11 last week after it ran out of cash to pay back investors who held notes backed by credit card receivables. A banker familiar with the deal said discussions are being held with turnaround management firm Alvarez and Marsal. William Kosturos, managing director at Alvarez, is now interim ceo and chief restructuring officer. The asset-based DIP facility could be syndicated in a couple of weeks, the banker added.