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Securitization People and Markets

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  • ACA Capital, the New York-based financial insurance company, is ramping up its exposure to leveraged loans as an extension of its corporate credit business.
  • A couple of tweaks were made last week to Del Laboratories' credit facility.
  • UBS and Deutsche Bank are prepping a $375 million credit facility and $250 million of term notes for Builders FirstSource that will refinance debt and pay a $237 million dividend to JLL Partners.
  • Wachovia Securities is returning to market with a new $76 million add-on "C" loan for NEP Supershooters that buysiders said should coast despite a rough time when the provider of outsourced media services tapped the market last May.
  • Pirate Capital, the Norwalk, Conn.-based event-driven hedge fund firm founded by ex-Goldman Sachs distressed bank debt trader Thomas Hudson, is likely to limit monthly subscriptions for its Jolly Roger Fund.
  • A trade group that represents credit investors is looking for a new executive director.
  • The $650 million of bank debt backing the acquisition of Intelsat by Zeus Holdings is unlikely to change, even if the purchase price of the company is lowered.
  • A trade group that represents credit investors is looking for a new executive director.
  • Standard & Poor's is planning to hire an accountant for its financial institutions division.