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  • The collateralized loan obligation market was up about 80% in 2006 as compared with 2005 and it doesn't look as if it will slow down any time soon.
  • JPMorgan, Credit Suisse and Bear Stearns have committed financing to back the $9 billion all-cash buyout of Realogy by Apollo Management.
  • Boston Generating's downsized $350 million second lien jumped to 102 1/2-3/4 after it broke in the secondary market at 101-102.
  • Call protection and a high coupon boosted Revlon's new $840 million term loan when it broke into the secondary market last week.
  • Credit default swap spreads tightened and trading volume declined in 2006, a trend market participants expect to continue in 2007 barring any major credit event.
  • The following directory includes year-to-date search and hire activity for high-yield, distressed debt and CDO managers. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ millions unless otherwise stated. To report manager hires and new searches, please call Kristen Haunss at (212) 224-3990, or fax (212) 224-3602.
  • Express Scripts has proposed a competing $26 billion cash and stock bid to acquire Caremark Rx backed by financing from Citigroup and Credit Suisse.
  • Information technology services company COMSYS IT Partners lowered its borrowing costs by paying off the rest of its costly second-lien debt.
  • The implementation of Basel II will not lead to a reduction in the securitization of corporate exposures, according to analysts at Standard and Poor's.
  • Barclays Capital has staffed up from zero to just under 100 people in the last 10 months, building a leveraged platform and raising many an eyebrow in the process.
  • Bank of America and Deutsche Bank have committed to financing the $27.8 billion buyout of Harrah's Entertainment by Texas Pacific Group and Apollo Management, according to market sources.
  • Bank of America and Goldman Sachs have committed to finance the $10.9 billion buyout of Biomet by a consortium of investors including The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co and Texas Pacific Group.