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  • Calpine's bonds traded up seven points across the board after the company sold $300 million of preferred stock to buy back bonds.
  • The following directory includes year-to-date search and hire activity for high-yield, distressed debt and CDO managers. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ millions unless otherwise stated. To report manager hires and new searches, please call Kristen Haunss at (212) 224-3990, or fax (212) 224-3602.
  • Credit Suisse First Boston held a bank meeting last Wednesday to launch syndication of the credit backing the sale of The Tensar Corp. by KRG Capital Partners to an affiliate of the private equity group Arcapita.
  • Investors were treated to a preview of J. Crew Group's spring collection at a bank meeting for the company last Monday at the Waldorf Astoria in New York.
  • JPMorgan and Toronto Dominion hit the market last Wednesday with a $1.3 billion deal for American Tower Corp.'s subsidiary American Tower to refinance $1.1 billion of existing debt with $1.3 billion of new loans.
  • The amount of bonds that are eligible to be upgraded has dropped and will continue to do so for at least the next few months, according to a report by Standard & Poor's.
  • The deal to back the buyout of Cendant Marketing's marketing service division by Affinion, formerly Affinity Acquisition Holdings, was reworked last week with lead banks Credit Suisse First Boston and Deutsche Bank upping the term loan by $100 million.
  • About 100 investors piled into the BCBG showroom last Thursday for a bank meeting to launch $300 million in loans led by Goldman Sachs and Citigroup.
  • Keane closed a five-year, $200 million senior unsecured revolver, that will potentially be used to fund acquisitions, said Mate Converse, v.p., corporate finance.
  • The Loan Syndications and Trading Association and Standard & Poor's have launched an improved online CUSIP (Committee on Uniform Securities Identification Procedures) system.
  • 40/86 Advisors has hired Tim Powell as its v.p. and director of private placement.
  • Neiman Marcus' $1.975 billion term loan "B" broke in the secondary, trading at 101, then dropped slightly to 100 3/4.