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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

Check out who buyside firms rank as the best trading desks in the secondary market, and why, in Loan Market Week's 2003 institutional investor survey.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

J.P. Morgan has priced the notes for Bank of Ireland's debut collateralized loan obligation, the $467 million Partholon CDO I, which will invest in both Western European and U.S. loans.

No, it's for the other president...At The Bond Market Association's CDO Investors conference held Tuesday at the New York Helmsley hotel, two blocks from the United Nations building, Christopher Ricciardi, a managing director at Merrill Lynch, poked fun at Micah Green, president of the association.

This chart, provided by Citibank/Salomon Smith Barney Inc., tracks bid-ask prices for par credit facilities that trade in the secondary market. It also tracks facility amounts, ratings, pricing and maturities.

Per-Se Technologies completed a refinancing plan in which the Atlanta-based company was able to reduce its debt levels and annual interest expenses. The refinanced package includes a new $175 million credit and a $146.6 million completed tender offer. Bank of America and Wachovia Securities lead the facility, which includes a $125 million "B" term loan and a $50 million revolver, said Michele Howard, v.p. of investor relations. "We thought they presented the best of ideas," she said of the lead lender selections, explaining that the two banks did not lead the previous $50 million revolver. B of A handles the cash management system for the healthcare business management outsourcing company, Howard stated, explaining Per-Se's past relationship with the bank. GE Capital led the previous credit and is now involved in the new revolver, she noted.

BNP Paribas will launch syndication tomorrow of a $150 million credit for CKE Restaurants, the parent of fast-food chains Hardee's and Carl's Jr., against the backdrop of a saturated quick-service restaurant (QSR) market and waning consumer demand. But Executive V.P. and CFO Ted Abajian said the company is betting on a premium quality, 1/4-1/2 pound, Angus beef hamburger at its lagging Hardee's chain to improve sales, rather than go the healthier route espoused by industry analysts.

The market for General Cable Corp.'s bank loan was a touch stronger last week following the company's recent filing of a shelf offering for up to $100 million in new bonds or equity. The bank debt was quoted in the 89-92 context by the end of last week, up from the 881/3-911/2 range, according to LoanX. If the company issues equity, the proceeds of the offering will be applied proportionally to the company's "A" and "B" term loans, explained Christopher Virgulak, executive v.p. and cfo of General Cable. But the "B" note holders have the right to decline the pay down, in which case the proceeds would be applied to the "A" loan until the piece is completely repaid, he added.

Smart & Final is in the midst of "retooling" its $175 million credit agreement after it was out of compliance with some covenants, said Jan Berger, v.p. and treasurer. He explained that after the company divested certain businesses, Smart & Final took write-downs in the second quarter, resulting in a net loss of $69 million, which tripped the breached covenants. Berger noted that the food and food supply warehouse store operator received a waiver on its asset-based credit through Oct. 5 so it can get new provisions in place. BNP Paribas leads the revolver and has been open to the credit agreement restructuring plans, Berger said. A BNP Paribas banker did not return calls.