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Packaging Dynamics $130 million term loan broke at 100 1/8 in the secondary market.

UBS has hired James Trefry, a Deutsche Bank loan salesman, to join its distressed loan trading desk.

RCN Corp. has obtained cheaper and more flexible financing 18 months after emerging from bankruptcy protection.

Société Générale has set up an integrated debt platform incorporating the loan and bond functions.

Trading volume was low on the break into the secondary market of Sturm Foods' $200 million term loan, as most investors sat tight with their primary allocations.

UBS, Jefferies & Co. and Bear Stearns are leading $165 million of senior secured credit facilities to back Trimaran Capital Partners' acquisition of Standard Steel from Citicorp Mezzanine Partners.

Russia could sell Venezuela the license to make AK-103 automatic rifles, said a leading executive at Russian state arms firm Rosoboronexport. Russia has sold Venezuela 100,000 AK-103, or Kalashnikov, rifles for $54 million, although only 30,000 have so far reached their destination.

Calyon's Guillaume Kaminer, head of index trading in the equity derivatives group in Hong Kong, has left, adding to the wave of equity departures at the firm this year in Asia. Officials close to the firm said Kaminer is on gardening leave and will be joining another house in the coming weeks. The bank and role could not be determined by press time.

JPMorgan pulled its deal for DaVita this morning after investor pushback caused the bank to rework the terms.

New central bank governor wins plaudits for hiking interest rates

Peru's president-elect Alan García aims to attract foreign investment to expand the country's mining industry, according to his Apra party's manifesto. García beat nationalist former army officer Ollanta Humala in the second round of a presidential election held on Sunday, having secured more than 53% of the vote with some 91% of ballots counted by Monday morning. He is due to take office on July 28. During the election campaign, García, who was Peru's president from 1985 to1990, said he would consider a windfall tax on the mining sector, which is enjoying a boom due to record metal prices.

Co-published by Bank of New York