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Wyndham International was collecting signatures Wednesday for its recent draft of an amendment that would extend the maturity of its increasing rate loan. According to market players, the new draft will have the company's IRL mature a month before the June 2006 expiration date on its "B" loan. The market for the company's bank debt was stronger on the prospect that the amendment, and the extra incentives it provides, will be completed. The IRLs were quoted in the 83-84 1/2 context and the market for the "B" loan was 80 1/2 -81 1/2.

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.

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

Citigroup has used over-the-counter equity options to structure a five-year preference share investment, called the Extra Income Plan. The product, which is referenced to the FTSE 100, gives investors two options, one of which offers buyers either 8% annual income, 1.93% quarterly income or 43% growth after five years and the second gives them either 6.25% annual income, 1.5% quarterly income or 33% growth after five years, according to Daniel McNeill, structurer in the equity derivatives group at Citigroup in London.

Volumes in the AUD1 billion (USD655 million) capital protected loan business have plummeted by 35-50% in recent weeks after the government announced a proposed change to the accounting of embedded derivatives. Last month the Commonwealth Treasury of Australia said it plans to amend the tax treatment of capital protected products to include the cost of the capital, typically an embedded over-the-counter put, to be treated under capital gains tax rather than accounted as an interest component that had been tax deductible. Legislation to spell out the changes is pending but in the meantime, no clarification has been released by the government to outline specific measures.