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BNP Paribas is looking to add two or three traders and a few salesmen to its high-yield trading and sales teams, according to a market source.

The primary market was saturated with dividend deals last week, as companies came to market to raise cash to pay off equity holders.

This chart, provided by Citibank/Salomon Smith Barney Inc., tracks bid-ask prices for par credit facilities that trade in the secondary market.

Dan Stachel, a principal and head of fixed-income research at State Street Global Advisors, continued his crusade against some of the securitization market's inherent flaws by taking on participants including issuers, rating agencies and even fellow investors at the American Securitization Forum's debt conference last week in Scottsdale, Ariz. Stachel, who has become the most-outspoken critic of many of the established market practices, said the rating agencies cannot be objective because they are paid by issuers.

--George Varughese, a managing director with Alvarez & Marsal, explaining how Credit Suisse First Boston fulfilled HealthSouth Corp.'s financing needs.

With much fanfare, Thailand’s prime minister Thaksin Shinawatra announced the creation of the Asia Bond Fund on June 2, 2003.

Guarantor: Abbey National plc

Rating: Baa1/BBB

Guarantor: Argenta Banque d'Epargne SA, Argenta Bank en Verzekeringsgroep NV

Banks competing to lead manage Argentina's debt restructuring continued to drop like flies this week, with rumours emerging that both Morgan Stanley and Goldman Sachs have pulled out of the race.

Kepco shows market savvy