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Coal producer Alpha Natural Resources' term loan "B" broke in the secondary market last week at 101 1/8.

E*TRADE Financial Corp. has closed on a new $250 million revolver that may be used for costs related to two new acquisitions.

General Motors' 8.375% '33 bonds fell two points to the 75-76 range on news that the Securities and Exchange Commission is investigating the company in connection with its financial reporting of pension and other employment benefits, as well as certain transactions between the company and Delphi.

Day International Group will receive $665 million from a Goldman Sachs-led deal to recapitalize the company and pay related fees.

Goldman Sachs and UBS launched syndication of $205 million of loans last Tuesday to back Fenway Partners buyout of Targus International from Apax Partners.

Delphi's CDS Index Protocol, which is aimed at saving time and money settling credit derivative contracts related to the bankrupt auto parts maker, hit problems last week as some market participants said there was a flaw in the protocol's so-called fall-back methodology.

S&P's says Poland's ratings unaffected by PiS-PO coalition rifts

Goldman Sachs is preparing to kick off its derivative warrants business in Hong Kong, after recently recruiting staff from established rival SG Securities. "We now have the best local marketing team and combined with our global technology platform developed in Europe and Japan, we will be able to differentiate ourselves," said an official at the firm. For the effort the firm hired high-profile warrant specialist Cheril Lee, now-executive director at Goldman in Hong Kong from SG (DW, 7/8) and is bringing in Ron Chia, equity derivatives trader at SG in the coming weeks for warrant trading.

Move designed to ease pressure on the Yuan

Merrill Lynch has hired Mathilde Roland, v.p. and equity derivatives trader at Deutsche Bank in Hong Kong, in a new role focusing on exotics trading for multi-regional transactions. "As multi-country and multi-regional products continue to grow, it was appropriate for us to cover this real-time in Asia as well," said James Rodríguez de Castro managing director in global equity markets at Merrill in Hong Kong. Roland will focus on multi-regional equity basket trades, which had previously been covered from London and New York, and joins as a v.p.

Bear Stearns has hired equity derivatives trader Thomas Veylon from SG Corporate & Investment Banking. Veylon joined in London as an associate director in flow equity derivatives, confirmed Guy Cross, spokesman for Bear. He reports to Ed Steel, managing director in structured products. Michelle Gathercole, spokeswoman for SG CIB in London, did not return a message and Veylon's role at the firm could not be determined.

SG Corporate and Investment Banking has lured back Olivier Benator, a credit derivatives salesman at UBS in Paris, to its fixed income and derivatives sales desk, also in Paris. Benator, who joined UBS from SG in 2001, will start as a director and manage sales in France. Benator could not be reached, but Michelle Gathercole, spokeswoman for SG in London, confirmed the hire, declining to provide details of the role or who he will report to. Sarah Small, spokeswoman for UBS in London, did not return messages by press time.