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Securitization People and Markets

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  • Ricciardi joined Merrill early last year from Credit Suisse First Boston. He is a managing director and head of the global structured credit products group.
  • CONMED Corp. recently returned to the market to decrease the pricing on its $260 million term loan by 50 basis points.
  • Adelphia Communications Corp.'s bank debt may have burned a vast swath of investors over the last few years, but an army of banks and loan investors will be asked to come back for more to finance a potential $8 billion exit financing.
  • SunTrust also came to market last week with a $195 million facility for Golden State Foods.
  • Goldman Sachs and Deutsche Bank will be leading the financing backing Fenway Partners' $410 million acquisition of American Achievement Corp. from Castle Harlan.
  • Graham Allen, the former fixed-income chief at Wells Capital Management, has rejoined Bradford & Marzec as head of international fixed income.
  • Insteel Industries is continuing to have discussions with its existing lenders as well as with other prospective providers of capital to meet a maturity on its credit facility that is expiring in March, noted Michael Gazmarian, Insteel's cfo and treasurer.
  • Some investors may attempt to prevent a price cut on DRS Technologies' $234 million "B" loan that would cut pricing down to LIBOR plus 13/4%, but the move may be futile.