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Default rates may be settling down to the long-term averages and demand for paper in both the primary and secondary loan markets may be strong, but market players caution investors and arrangers not to let their guard down.

Mirant Corp. bank debt ticked up roughly a point after the company announced that it had reached a settlement with Pepco Holdings.

MJX Asset Management, the newly formed asset management business that is acquiring the Venture CDO 2002 and Venture II CDO 2002 loan funds of Barclays Bank, is launching its third deal, Venture CLO 2003.

Bank of America is in the market with a new set of notes for TCW that will refinance the debt backing an existing vintage loan portfolio securitized by J.P. Morgan called Episode IV.

Bear Stearns Merchant Banking is buying CamelBak Products and has tapped BNP Paribas and Bank of New York to lead the debt financing.

Bank of America is pitching a $200 million credit for Quanta Services, a specialized contracting service offering end-to-end network services to the electric power, gas, and telecom and cable industries.

Moody's Investors Service has downgraded several tranches of the notes issued by Stanfield/ RMF Transatlantic CDO.

A significant evolution in the loan market is taking shape as a long-awaited project to assign CUSIP numbers to loans is ready to launch at the beginning of next year.

Dade Behring Holdings, a clinical diagnostics company, has tapped its bank group for a 11/2% reduction to the pricing on its term loan, cashing in on improved performance and better market conditions.

Credit default swaps (CSD) are increasingly being used in the loan market to determine pricing, as derivatives provide pure prices on credit.

The Chinamoney Entrepreneurs Summit in July brought together 150 business leaders and a heavy-hitting British delegation. Distinguished panelists discussed key topics relating to China's private sector with the keynote address by British prime minister Tony Blair. His theme – Looking to the Future – explored relations between the two nations.

THE WINNERS OF Asiamoney's 14th brokers poll saw UBS, CLSA and CSFB take to the stand again and in the same order as last year. Two major ranking changes are ABN Amro storming up the charts with Merrill Lynch going down a few notches. A major difference in this year's broker's poll is the inclusion of hedge fund-specific questions on the provision of services to the hedge fund industry, which has become an increasingly important segment of the broking clientele. Respondents were also asked to mark their preferences on hedge fund-specific research.