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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.

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.

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.

Goldman Sachs is in the equity marketing phase for a collateralized loan obligation on behalf of The Carlyle Group that will be able to purchase par, stressed and distressed loan assets. "The focus is really on the non-investment grade bank loan market and is designed for them to buy in the 85-95 area," said a source. He said the yet-to-be-named deal is likely to be in the $300 million range.

Harrah's Entertainment has received a new $1.963 billion, five-year credit, pushing out its bank loan maturities five years. "It extends the maturity and gives assurance that the funds will be available when we need them," said Charles Atwood, Harrah's senior v.p., cfo and treasurer. Banks are no longer interested in 364-day facilities, he added, explaining that the market is leaning toward longer credits.

HSBC plans to integrate its credit-default swap desk into its newly merged bond and loan trading operation and will likely start purchasing protection for its secondary loans portfolio as a result. The bank is running a pilot scheme under which the profit and loss from the plain-vanilla credit-default swap book is consolidated into the credit book, which includes eurobonds and secondary loans, according to Clive Stevens, who will be co-heading the group with Mark Everett. The integration has been planned to give investors access to greater liquidity and also to better manage the firm's credit risk, Stevens added. Previously Stevens and Everett were heads of credit trading, but for only the cash bond business.

Syndication of pizza delivery franchise Domino's new $685 million secured credit launched last week and received strong investor reception, according to market players. An exact subscription level could not be ascertained. The deal, led by J.P. Morgan, includes a six-year, $125 million revolver and a seven-year, $560 million term loan, and is priced in the LIBOR plus 31/4% range. A $450 million note deal also backs the recapitalization plans.