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  • Morgan Stanley has finally filled the long vacant position of Taiwan CEO with the appointment of Susan Lin. Lin is joining Morgan Stanley from Goldman Sachs, where she was the head of private wealth management for north Asia.
  • Xavier Werner is moving to New York to head up ABN Amro's primary and secondary credit markets in the US. As a result, Paul White and James St Johnston become co-heads of European debt syndicate.
  • Commentary
  • We are delighted to announce that MTNWeek, the leading publication for the global MTN and CP markets, has merged with EuroWeek, the leading newspaper for the international capital markets. We hope you will agree with our belief that together MTNWeek and EuroWeek will be a stronger, single publication that will continue to be essential reading for those working in the international capital markets.
  • ABN Amro Asset Management and Framlington have resolved their dispute over star managers George Luckraft and Nigel Thomas. The two fund managers, who resigned from ABM Amro in April, will now join Framlington on September 8. The announcement is a victory for Framlington, as the fund managers were originally expecting to have to work a year's notice. The two left ABN Amro just weeks after their resignation, citing that it was no longer possible for them to work at the firm, and Framlington and ABN Amro have been locked in negotiations since them.
  • Greece Despite the disastrous performance of the equity markets over the past week Citigroup/SSSB is pushing ahead with its Eu513m offering in OPAP, the government controlled Greek lottery and football pools operator.
  • Rating: A- (Fitch) Amount: Eu100m
  • Amount: Sfr373m Maturity: August 15, 2006
  • Bank of Scotland has launched syndication of the increased debt facilities which backed the 1999 £215m buy-out of washroom services company PHS Group by Charterhouse Development Capital. The original deal was a £117m facility, but Bank of Scotland intends to sell a further £33m to the market.
  • Barclays and JP Morgan have closed syndication of the £412.3m acquisition facility for Premier Foods. One ticket was offered to relationship banks for fees of 87.5bp. Only £235m of the deal is new money, with the balance refinancing existing debt. A £244.3m term loan 'A' maturing in December 2007 offers a margin of 225bp over, a £67.9m term loan 'B' maturing in December 2008 pays 275bp over, and a £100m revolver maturing in July 2008 offers 225bp over.
  • Rating: Aa2/AA Amount: $750m
  • Rating: A1/A+ Amount: $750m