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  • Oglebay Norton's $140 million term loan "B" broke at 100 1/8-100 1/2 in the secondary market and traded up to 100 1/2-100 3/4 last week.
  • Morgan Stanley launched a $195 million credit facility last week for Ohmstede, according to a banker.
  • Sunstone Hotel Investors was able to shave 25 basis points off its bank debt in an opportunistic refinancing, but CFO Jon Kline said the company is never satisfied with pricing.
  • General Motors Corp.'s better-than-expected second-quarter results caused the five-year credit default swaps on Ford Motor Company and several auto suppliers that rely on GM for business to tighten last week.
  • Bear Stearns and Lehman Brothers are in the market with a $250 million senior secured credit facility for American Cellular Corp.
  • Members of The Bond Market Association and the Securities Industry Association voted to merge the organizations to create the Securities Industry and Financial Markets Association.
  • Calyon Americas, the investment bank of the Credit Agricole Group, named Peter Kelly, managing director, as the head of the loan syndications group.
  • The following directory includes year-to-date search and hire activity for high-yield, distressed debt and CDO managers. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ millions unless otherwise stated. To report manager hires and new searches, please call Kristen Haunss at (212) 224-3990, or fax (212) 224-3602.
  • Deutsche Bank launched syndication of a $180 million credit facility for Coleman Natural Foods last Thursday.
  • Dura Automotive Systems' subordinated 9% '09 bonds tumbled 19 points to 29 1/2 on worse-than-expected second quarter results.
  • Trading volume was light on the break of Endurance Business Media and Herbalife International's term loans in the secondary last week.
  • An unidentified investor sought to put together a portfolio of loans quickly last week by asking dealers to submit offers on a variety of credits.