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Securitization People and Markets

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  • J.P. Morgan launched syndication last Wednesday of a $155 million recapitalization for Waddington North America. Proceeds will be used to fund a $48 million dividend to equity sponsor Code Hennessy & Simmons.
  • Phanos is a partner and director at Trafalgar Asset Managers, a London-based high-yield and distressed hedge fund.
  • Crédit Lyonnais is scheduled to launch syndication of a three-year, $150 million revolver for Global Industries tomorrow.
  • Goldman Sachs and National City Bank are leading a $205 million refinancing for Luigino's. The facility comprises a $30 million revolver and $175 million "B" loan.
  • Morgan Stanley has snared the lead role on a fully underwritten $2.4 billion refinancing for Calpine Generating Co., formerly Calpine Construction Finance Co. II (CCFC II), with a structure that is being pitched to loan and high-yield investors.
  • Morgan Stanley has plucked Jason Colodne from his research position on the Goldman Sachs loan desk.
  • The following is a list of prominent personnel moves from around the U.S. and European markets.
  • RBC Dain Rauscher is planning to decentralize its trading of agency, mortgage-backed securities and corporate bonds as part of a plan to bring its trading functions in line with an enhanced sales force, according to Jerry Phillips, senior v.p. and director of taxable fixed-income trading in San Francisco.