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Like many loans bankers, Loan Ranger has spent a lot of the week digesting. Digesting how the world was (we hope) saved from financial Armageddon, and digesting the bleak outlook for next year over lunches and drinks at a series of conferences in London.

A new style of over-the-counter derivative that caps downside and upside potential the way an equity collar would, but more cheaply, is set to be unveiled today.

Nearly two weeks after the bankruptcy of Lehman Brothers, structured finance trustees are bracing themselves for the fallout from the biggest default ever.

The following directory includes year-to-date search and hire activity for high-yield, distressed debt and CDO managers.

The following directory includes year-to-date search and hire activity for high-yield, distressed debt and CDO managers.

GMAC RFC and Kensington Mortgage are preparing a £3.56 billion ($7 billion) residential mortgage-backed securitization.

The following directory includes year-to-date search and hire activity for high-yield, distressed debt and CDO managers.

The following directory includes year-to-date search and hire activity for high-yield, distressed debt and CDO managers.

Bond Dame We hacks love this time of year — all the borrowers are in town so the banks have to lay on lavish entertainment and sometimes we get invited along. BNP, Barclays, Merrill Lynch and RBC all asked us to their parties — shame on HSBC for not inviting us to their wine tasting. Probably afraid their bankers might give us something to write about.

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Ken Griffin’s $20 billion Citadel Investment Group plans to expand the securitized products platform within its flagship Kensington Global Strategies Fund Limited and offshore counterpart, Wellington Fund LLC.

Credit Suisse will shut down its Credit Suisse Target Return bond fund following bad bets related to the subprime mortgage market. The fund has fallen 14.45% over the past two years as one of its largest holdings, Kensington Mortgages, has fallen more than 50% in the same period, reports reports FundStrategy.co.uk. “We had the view that yield curves would steepen and we thought this fund would benefit, but it didn't," said Toby Ricketts, an investment director at Margetts and an investor in the fund. “They said that the poor performance was due to exposure to mortgage-backed securities.”