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George Chalhoub has left Merrill Lynch, where he was a director and high-yield analyst covering consumer products, metals and mining, to take a similar position at Deutsche Bank, according to Clare Schiedermayer, Merrill's manager of credit research for the Americas. He fills a void created by the departure of Lisa Gaffney last month (BW, 4/28). He could not be reached, and Andy Van Houten, co-head of high-yield research at Deutsche Bank, did not return calls.

The Reader's Digest Association closed on $950 million in new credit facilities, led by Goldman Sachs and J.P. Morgan, after bringing in more than 80 other lenders, including mutual funds and insurance companies. Reader's Digest is purchasing Reiman Publications for $760 million. In addition to the acquisition, the financing will also pay for $100 million of Class B share repurchases in connection with a pending recapitalization, as well as the restructuring of existing borrowings, noted Michael Geltzeiler, senior v.p. and cfo of Reader's Digest.

Paul Shaum, former head of high-yield research at SG Cowen, has joined Soros Fund Mangement as a portfolio manager. Michael Vachon, a firm spokesman, declined further comment, as did Shaum. In addition to being research head, Shaum covered aerospace and consumer products at SG Cowen. However, he was let go last year as the firm cut back underwriting in those sectors (BW, 3/4/01).

RBC Capital Markets is on the lookout for a few bond traders for its London fixed-income trading desk. It is looking for an emerging markets trader and another, more junior trader, for general bond trading, industry officials say. Recently, Simon Howard-Glossop, a senior member of the London-based global credit team, left RBC. His destination could not be learned by press time nor could the name of his replacement. Calls to Peter McFallon, head of credit trading in London, were not returned.

Wyndham International's increasing rate loan traded down last week after Moody's Investors Service assigned a Caa1 rating to the company's proposed $750 million of senior notes, causing investors to fret overt the status of the deal. The new notes are slated to pay down all of the IRL and 10-15% of the company's term loan "B" expiring in 2004, and that prospect had driven Wyndham's IRL paper up toward par. But prices fell to 98 last week as approximately $10 million changed hands after Moody's came out with its rating. Rick Smith, cfo of Wyndham, was not in the office Friday morning and could not be reached for comment. A company spokeswoman did not comment by press time.

Deutsche Bank has priced notes backing GoldenTree Asset Management's roughly $650-700 million collateralized loan obligation. Market sources said the deal is slated to close next month. One banker close to the deal said the portfolio manager structured the deal in such a way to accommodate the deal's size and a collateral basket consisting of a percentage of revolvers. Officials at GoldenTree and Deutsche Bank declined to comment.

The Dixie Group went with a new bank group when it decided its banks did not fully recognize the Chattanooga, Tenn.-based carpet manufacturer's move away from being a textile company. "Dixie is a 100% carpet company, but some of the banks still viewed us as a textile company and they did not want to be in that sector," said Gary Harmon, cfo of Dixie. SunTrust Bank, which led the last facility did recognize the change, which occurred several years ago," said Gary Harmon, cfo of Dixie, but instead of reworking the group, Dixie decided to go with an entirely new group, he added.

Allegheny Energy Supply, a subsidiary of Allegheny Energy, has rolled three 364-day credit facilities totaling $810 million into one $965 million revolving credit facility. The company secured the three separate facilities last year as needed to support its growth and acquisition strategy, said Kevin Warchol, assistant treasurer. The company chose to consolidate the credits and cover its liquidity needs with one facility for administration purposes as well as the ease in having one set of covenants to abide by, explained Warchol.

Paul Tice, former co-head of high-grade research and energy analyst at Deutsche Bank, will return to Lehman Brothers, where he started his career. He will join the research group early next month, as a managing director to monitor the firm's non-public capital commitments, including its loan exposures, which have become an increasingly important part of the firm's business, says Jim Asselstine, the firm's global director of high-grade research.

Robert Sweeney, a veteran high-grade energy analyst, left Putnam Investments last Thursday and will join BNP Paribas as a director in its investment-grade research effort. Sweeney declined comment andJoe Labriola, head of research at BNP, did not return calls. It is assumed, however, that Sweeney was brought in to replace Dan Scotto, who was released from the firm last year (BW, 5/20). Individuals familiar with Sweeney's thinking on the matter say that he has made it perfectly clear to them that widely discussed turmoil within Putnam's bond operations this year is the reason for his departure. Calls to Paul Quistberg, Putnam's head of fixed-income research, and Stephen Peacher, cio, were not returned.

David Howard, managing director with Fitch Ratings, left the rating agency for Financial Guaranty Insurance Company, a provider of insurance for structured finance products, asset-backed securities and municipal bonds. His new title is chief risk officer. He will report to Debbie Reif, ceo. Howard says he replaces Greg Raab who will head up the structured finance group at FGIC.