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Securitization People and Markets

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  • Clayton Dubilier & Rice has tapped Deutsche Bank, Citibank and Bank of America to lead the financing backing its $1.65 billion acquisition of VWR International, a subsidiary of Merck KGaA. Bear Stearns advised Merck, while Citi and Deutsche Bank advised CD&R.
  • Joe McCullough, a portfolio manager at Chandler Asset Management, a San Diego buy-side firm with more than $1 billion under management, has left the firm and the fund management industry.
  • The following is a list of prominent personnel moves from around the U.S. and European markets.
  • Owens Illinois was in talks with its banks last week to secure up to $1.5 billion in bank debt to finance the $1.46 billion acquisition of European glass container manufacturer BSN Glasspack.
  • Deutsche Bank last week launched the U.S. syndication of the approximately $3 billion bank debt refinancing for engineering group Invensys.
  • Code Hennessy & Simmons is running with Merrill Lynch and J.P. Morgan to lead the financing backing its $510 million acquisition of The Hillman Companies.
  • The $1.8 billion financing backing Koch Industries' $4.4 billion acquisition of INVISTA is set to hit the market this week with J.P. Morgan, Deutsche Bank, Credit Suisse First Boston and Citibank taking the lead.
  • CSFB and Morgan Stanley launched syndication last week of a $100 million senior unsecured term loan and $260 million "C" loan for Dresser, refinancing the company's $382 million "B" loan.