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  • Dura Operating Corp's bankruptcy will serve as the first test for The International Swaps and Derivatives Association's new credit defaults swap protocol.
  • Wachovia Securities today reportedly laid off at least 60 people across equity derivatives groups, including listed options sales and trading, convertible bonds and equity finance.
  • Goldman Sachs has hired Henry Flowers from Merrill Lynch as a v.p. in structured equity solutions.
  • Although the Philippines' Napocor dominated the non-investment grade market in Asia this week, a steady stream of high yield companies are also beginning to market inaugural bond offerings.
  • ABN Amro and Standard Chartered have launched syndication of a $1.78bn bridge loan for Tata Steel, the first piece of financing for its acquisition of Corus, the Anglo-Dutch steelmaker.
  • Lehman Brothers has launched a ¥31bn ($260m) leveraged buy-out facility for Olympus Capital Holdings Asia, a private equity firm. The deal supports Olympus's buy-out of Japan's Arysta Life Science Corp from Toyota Tsusho Corp and is split equally between two five year tranches.
  • Goldman Sachs is as publicity shy as some nigh-extinct tree kangaroo in the hidden depths of the Borneo rainforest.
  • Bank Mandiri announced last Friday (October 20) a deal with Indonesia's Riau companies, controlled by entrepreneur Sukanto Tanoto, in which Tanoto will step up debt repayments. He has won a longer maturity and an endorsement from the bank.
  • The Central American Bank for Economic Integration has continued to diversify its funding sources in Asia's local currency bond markets by becoming the first entity based in Latin America to issue bonds in the Hong Kong dollar market.
  • Hynix-ST Semiconductor has closed one of the largest project financings for a wholly owned foreign enterprise in China with a $1bn deal.
  • Gary Coull, the co-founder and chairman of CLSA Asia-Pacific Markets and chairman and chief executive of CLSA Capital Partners, died this week in the US after a long battle with cancer.
  • The Philippines' National Power Corp has returned to the international bond market with a tightly priced and swiftly executed $500m 10 year deal.