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Asset-backed bankers and traders from Credit Suisse First Boston and Dresdner Kleinwort Wasserstein recently undertook gruelling sporting feats for charity. A six-man group from CSFB including ABS syndicate banker Adrian Carr swam the English Channel in aid of NCH (formerly National Children's Home). The four-man DrKW team--Charles Hyatt, Richard Kemmish, Fraser Malcolm and Nick Morgan--trekked a 54-mile stretch of the treacherous West Highland Way in Scotland as part of the State Street Caledonian Challenge, which benefits various Scottish charities. The aim of the challenge is to complete the hike in 24 hours.

Nortek tappedFleet Capital for a $200 million senior secured revolver to pay down existing debt and give the company extra flexibility. The five-year revolver has a pricing option of LIBOR plus 2- 21/ 2%, or Prime Rate plus 1/2- 1%, with $42 million of the credit being used to replace the balance of a Fleet-led term loan that expired last month, according to Edward J. Cooney, v.p. and treasurer of Nortek. The balance of the credit will be used for letters of credit issuance and for general corporate purposes. "It's mainly for flexibility," Cooney told LMW.

Consolidated Natural Gas has wrapped up a $500 million, 364-day revolver and has cut back allocations because of strong demand. The company, subsidiary of Richmond, Va.-based Dominion, cruised through the market despite broader energy market negativity.

Credit Suisse First Boston has set pricing on the $210 million credit facility to finance technology buyout fund Francisco Partners' acquisition of Global eXchange Services (GXS). The $175 million, five-year "B" piece is priced at LIBOR plus 33/ 4%, while the $35 million, six-year revolver has a LIBOR plus 31/ 2% spread. The commitment fee is 1/2%. CSFB launched syndication last week to support the $800 million acquisition, expected to close this October (LMW, 6/30). "People understand the transaction," said a banker familiar with the deal, though there are no indications of commitment levels, he added. CSFB declined to comment on the deal.

Deutsche Bank and ABN Amro are shopping a $125 million "B" term loan for GenCorp, backing subsidiary Aerojet-General's $90 million acquisition of General Dynamics' ordnance and tactical systems, space propulsion and fire suppression business. The five and a half-year loan, which is priced at LIBOR plus 3%, also will be used to pay $5 million in transaction costs and pay down $30 million in borrowings under the existing $137 million revolver. Deutsche Bank officials declined to comment, and ABN officials did not return calls by press time.

At least four high-yield professionals who were let go from a unit of Citigroup Asset Management in July (BW, 7/14), have found new positions, according to a person familiar with the situation.

Bank of America and Fleet Bank are shopping a $135 million credit for Eye Care Centers of America, a Thomas H. Lee portfolio company that owns 360 optical stores across the States. The new credit will refinance the existing deal used to back the acquisition by the private equity shop in 1998 for $300 million. "This company stumbled out of the blocks when it was first bought," said a banker. Now, the company has small capex requirements and has met EBITDA targets for the year already, she added.

GenCorp's new $125 million "B" term loan, which backs the acquisition of General Dynamics' space propulsion business for $90 million, is significantly overcollateralized, according to Standard & Poor's. The ratings agency has assigned a BB+ rating to the tranche. The remaining funds from the "B" piece will be used to pay down the outstanding amount on the company's existing $137 million revolver. The company also has an existing $76 million "A" term loan.

Levels on the bank debt for Pacific Crossing, the bankrupt affiliate of Global Crossing, have dropped in the wake of a cash distribution that paid off some bank debt. The debt was trading in the 8-9 context before the company distributed some of the cash off its balance sheet to bank lenders, one market source explained. The bank debt is now worth roughly 6-8 cents on the dollar, he added. One dealer explained that the price was up because lenders were expecting a paydown. It dropped because the debt that wasn't paid off was worth less. When the paydown was distributed and how much each bank debt holder received could not be determined by press time.

Barclays Capital has hired Grant Ashton to run euro- and dollar-denominated bond high-grade trading for Europe. The position is newly created, because the firm has seen significant growth in the volume of this business and expects more, says a firm spokeswoman. Grant, who joins from Schroder Salomon Smith Barney, will report to John Kreitler, global head of credit trading. At SSSB, Ashton was head of European currency Eurobond trading. A spokeswoman at SSSB says Ashton's position has not yet been filled.

Barclays Capital in New York has hired Steve Madsen, a utilities trader, from Deutsche Bank, according to traders at both firms. Madsen becomes the second corporate bond trader to leave the German bank for its British rival in recent weeks. Mark Jicka, former head of corporate bond trading at Deutsche Bank, also left to join Barclays (BW, 8/11). Jicka will join Barclays in roughly a month, according to an official there. Madsen could not be reached, and his start date could not be determined. John Kreitler, Barclays' London-based head of global credit trading, did not return a call. Steve Murphy, Deutsche Bank's U.S. head of corporate bond trading, referred questions to Ted Meyer, a spokesman for the firm, who confirmed the departure and says his responsibilities will be handled internally.

Bank of America has hired Martin Leppin for its European fixed-income origination team. Leppin, who moves over from Lehman Brothers, where he held a similar role, will cover frequent borrowers and financial institutions in Austria and Germany along with Dimitri Toseland. Leppin was hired to support the growth seen on the frequent issuers desk, says Toseland. Calls to a Lehman spokeswoman seeking details of Leppin's replacement were not returned.