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  • Franklin Advisers', Franklin Floating Rate Trust saw an increase in its net asset value.
  • A $22 million piece of Henlys Group bank debt was auctioned off in the 72-74 range early last week as Mayflower ran into trouble.
  • The secondary market was light last week, reflecting a busy new issue calendar. Some notable movers came from the distressed market as well as from companies with new deals in the works. Here is selected action.
  • Charlie Henneman, a director in collateralized debt obligation structuring and operations at Indosuez Capital and a former Standard & Poor's analyst, is leaving the structured finance industry at the end of the week.
  • Charlie Henneman, a director in collateralized debt obligation structuring and operations at Indosuez Capital, and a former Standard & Poor's analyst, is leaving the structured finance industry.
  • The bank debt levels for aaiPharma's $156 million term loan "B" have been sliding down over the last three weeks as the company comes under scrutiny for unusual pharmaceutical sales in the second half of 2003.
  • ALSTOM's bank debt has slumped in the secondary loan market over the last couple of weeks as the company conducts negotiations with its creditors to amend its credit facility.
  • A $190 million refinancing for Apollo Management's Educate hit the market last Wednesday.
  • Black Diamond Capital Management stands to reap the rewards of its position in American Safety Razor Co. as UBS markets a $225 million refinancing that will take out the existing bank debt that Black Diamond harvested from original lenders.
  • BNP Paribas is preparing a $180 million facility backing the acquisition of bra manufacturer Maidenform by Ares Management's private equity arm, the Ares Corporate Opportunities Fund.
  • Syndication launched last Wednesday for a $550 million facility backing CACI International's $415 million acquisition of American Management System's (AMS) Defense and Intelligence Group (DIG).
  • A surge of interest in Asian-strategy hedge funds is fuelling a boom in the industry. And after losing out on their long-only strategies in a bear market, established US pension funds are adding to the impetus. Betsy Massar reports.