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  • Goldman Sachs has hired Josh Hershman as an investment-grade trader. Hershman joins from Merrill Lynch where he was trading high-grade corporates.
  • The $410 million in syndicated loans for Saguaro Utility Group's buyout of UniSource Energy has hit a hurdle: not enough lenders want to commit to the deal even after pricing was jacked up, according to Power, Finance & Risk, an LMW sister publication.
  • Credit Suisse First Boston will launch syndication tomorrow of the $130 million facility backing management and Gilbert Global Equity Partners' acquisition of True Temper Corp. from Cornerstone Equity Investors.
  • Express Scripts completed an $800 million credit facility to finance an acquisition and repay maturing notes. The company's existing bank debt had been put in place in 1999, noted Michael Salamone, v.p. and treasurer.
  • Scott Draper, a senior equity derivatives trader at Banc of America Securities in New York, has joined Susquehanna International Group as an equity derivatives sales trader.
  • Lehman Brothers has promoted Andrew Morton and Tarun Jotwani to co-heads of fixed income.
  • Clayton Dubilier & Rice has tapped Deutsche Bank, Citibank and Bank of America to lead the financing backing its $1.65 billion acquisition of VWR International, a subsidiary of Merck KGaA.
  • Loan asset management heavyweights INVESCO, Deerfield Capital Management and American Express Asset Management (AMEX) have joined the roster of managers seeking to raise new collateralized loan obligations.
  • Mark Quinn, formerly a senior v.p. and distressed loan trader at Lehman Brothers, has left the firm to join Troob Capital Management.
  • RCN Corp.'s bank debt levels continue to hold their ground despite warnings from the company that Chapter 11 reorganization might be up ahead.
  • Highland Capital Management benefited from strong demand for its $550 million Bristol Bay pro rata collateralized loan obligation, with tighter pricing on the liabilities than anticipated, according to a source.
  • Morgan Edwards, an executive director in senior bank loan sales at Morgan Stanley, is leaving the firm.