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Securitization People and Markets

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  • Juno Lighting's $240 million credit facility was oversubscribed a week after Wachovia Securities launched syndication.
  • Brian Murphy, formerly a whole loan mortgage-backed securities trader at Credit Suisse First Boston, left the firm earlier this month, according to individuals familiar with his move.
  • Interstate Bakeries could default on its loans next month if operating results do not improve and the company is unable to meet the leverage covenants of its credit agreement.
  • Credit Suisse First Boston, Goldman Sachs and UBS will be bringing a senior debt package to back Kohlberg Kravis Roberts & Co. and CSFB Private Equity's acquisition of four chemical units of Dynamit Nobel.
  • GE Capital is preparing a $220 million refinancing for Roller Bearing, a manufacturer and distributor of precision-bearing products.
  • Amy Siskind, a managing director of bank debt trading at The Seaport Group, has left the firm.
  • A spate of leveraged companies issuing Income Deposit Securities (IDS) has caused Standard & Poor's to raise concerns over the potential usage of the hybrid security, which is beginning to pick up in popularity.
  • MasTec has requested amendments to its $125 million credit facility with Fleet Securities, now Bank of America, related to violations due to a registered net loss of $39.7 million on revenue of $873.9 million in 2003.
  • The following is a list of prominent personnel moves from around the U.S. and European markets.