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  • Peter Benoist, a Citigroup par loan salesman, has been moved across to fill the par trading spot left vacant when Peter Lapina moved over to the distressed trading side.
  • Consolidated Container Co. completed a new credit facility to get more capital flexibility and address a major amortization payment due in June 2005.
  • Credit Suisse First Boston launched syndication last Tuesday of a $325 million facility backing private equity firm MatlinPatterson's $475 million acquisition of Duke Energy's southeast merchant generation portfolio.
  • A rallying cry to the buyside from a Credit Suisse First Boston trader to take action on assignment fees received strong support from investors and some on the sell side last week, but that support is tempered by a fear that the market is too competitive to act together on what is easily the biggest complaint from buysiders.
  • Deutsche Bank is in the market with a $315 million credit facility for United States Can Co. that refinances loans led by Bank of America, Citibank and Bank One. U.S. Can Co. is the operating subsidiary of Berkshire Partners portfolio company U.S. Can Corp.
  • Tier 2 automotive supplier Autocam Corp.'s business is highly correlated to new vehicle production and is spread across a number of product applications.
  • BNY Capital Markets is in the market with a $1.35 billion credit backing CVS Corp.?s purchase of Eckerd from J.C. Penney.
  • Canyon Capital Advisors is close to raising its debut collateralized loan obligation after previously managing bank debt through hedge funds and separate accounts.
  • Deutsche Bank and Morgan Stanley have added a $250 million second-lien "C" loan to the E1 billion credit facility backing The Blackstone Group's E3.1 billion acquisition of Celanese.
  • Standard & Poor's is telling investors in collateralized loan obligations that they should more carefully scrutinize the collateral being purchased by managers in light of the proliferation of loans that are senior secured in name only.
  • TD Securities has let go at least four professionals on its structured credit desk in New York, in what one official is calling a further pullback from the U.S. fixed-income market.
  • Fitch Ratings has removed Tenneco Automotive's B+ rated senior secured bank facility and B senior secured notes from rating watch positive.