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Loral Space & Communications' bank debt jumped from the 85 range to the 94 - 95 context after the company announced it was not only filing for bankruptcy but also using the proceeds from satellite sales to pay down all of its bank debt. "The general perception is that [the bank debt] will be taken out at par," said one buysider. Market players noted that the paper traded actively. A $10 million piece changed hands in the 93 - 94 3/4 context, according to traders. Loral has about $959 million outstanding on its bank debt and expects the sale of six North American satellites to bring in about $1.1 billion in cash, according to a written statement.

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.

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.

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.

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.

L. Sankarasubramanian, head of credit derivatives research at ABN AMRO in New York, has joined Merrill Lynch as head of global credit analytics. At Merrill, Sankarasubramanian replaces Luis Reyna, who has moved to another role in the organization, which could not be determined by press time.

Robert Delarm, head of emissions trading, resigned from American Electric Power last Monday to take up a new position in Chicago. Delarm declined to comment on where he is heading or why he resigned. AEP spokeswoman Melissa McHenry, said Delarm's last day at AEP is July 25.

Singapore's DBS Bank and local-player Taishin International Bank are preparing to enter the nascent onshore credit derivatives market in Taiwan in the coming months. The market was kick-started at the onset of the year with Deutsche Bank, BNP Paribas and Credit Lyonnais receiving the first batch of licenses (DW, 1/26). An official at JPMorgan said he expects the firm to receive the go-ahead in the next two or three months.