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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.

Jay Durkin has left Lehman Brothers, where he was a managing director in high-yield sales based in New York. High-yield buy-siders say Durkin simply wanted to take some time off after a number of years in the business. He had spent eight years at Lehman, prior to which time he sold high-yield bonds at Kidder, Peabody & Co. Durkin declined comment when reached at his residence. A call to Tom Humphrey, global head of credit sales at Lehman, was not returned.

Williams Companies is a Tulsa, Okla.-based energy concern. A long-time investment-grade company, Williams was downgraded to junk last July. It had $13.9 billion in total debt at the end of 2002. The company priced its first high-yield deal on March 4, a $175 million 144a transaction through its subsidiary Northwest Pipeline Corp.

Larry McCarthy will join Lehman Brothers today as managing director and head of distressed trading. He reports to Alex Kirk, head of high yield, according to a Lehman high-yield official with knowledge of the situation. McCarthy had been trying to negotiate the move for over a month (BW, 2/3). Neither he nor Kirk returned calls. It could not be determined who, if anyone, McCarthy is replacing.

Morgan Stanley has made two senior hires as part of an effort to grow its high-yield business in response to the recent growth of that market, says Mitch Petrick, co-head of the firm's global high-yield and loan products group.

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.

Oh Loan-eo, Loan-eo, Wherefore art though Loan-eo ... A Banc of America Securities loan analyst got a little carried away with Shakespearean references, with this phrase just one of many puns which included--Much Ado About Nothing, As You Like It, CP or Not CP and Measure By Measure--in a recent report on the market. According to sources, almost the whole of the loan group did not want this theme, but after a fight, Loan-eo was authorized. The only surprise from all this thespian fare is why the most pertinent quote was left out. "Neither a borrower nor a lender be."