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  • Exponent Private Equity has acquired online and call centre rail retailer Trainline from a consortium of shareholders that include Virgin, Stagecoach and National Express transport groups for £163m. Trainline operates retail websites for train operating companies and provides a rail business travel service direct to a number of blue chip corporations and travel agents.
  • United Biscuits, the maker of McVitie's and KP Nuts, has formally put itself up for sale after sending financial packs to potential buyers.
  • A bank presentation for telephone directory company Yell's £5.05bn acquisition facility via Citigroup, Deutsche Bank, Goldman Sachs and HSBC will be held in Claridges in London today (Friday). The deal is split into a £3bn five year term loan 'A' that pays a margin of 175bp over Libor, a 6-1/2 year £1.2bn bullet loan 'B' that pays a margin of 225bp, and a £400m five year revolver that pays 175bp over.
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  • Morgan Stanley has hired two senior former Barclays Capital bankers for its global capital markets (GCM) business, Gary Cottle and Robert Palache. Both Cottle and Palache had been managing directors and will join the US house with the same rank. Cottle, who had been head of EMEA corporate risk advisory at Barclays, will join Morgan Stanley as head of corporates in GCM, a position that spans corporate debt and derivatives, enterprise risk management, liability management and transaction management.
  • Guarantor: Bank of New Zealand
  • Rating: Baa1/A-/A-
  • EuroWeek hears that Apax Partners is considering launching a bid for Telefónica's 75% stake in Endemol, the Dutch TV production company behind the Big Brother TV shows.
  • US banks and brokerage firms flooded the new issue market with almost $7bn of short dated floaters this week, taking advantage of the only part of the new issue market that does not require new issue concessions.