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Securitization People and Markets

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  • Lehman Brothers has pitched a $196 million "B" loan for Teton Power Funding to a handful of investors.
  • Links Securities has reportedly hired up to 20 high-yield professionals from Maxcor Financial, including Mario Monello, the former head of high yield at Maxcor, according to a high-yield portfolio manager familiar with the move.
  • The Loan Syndications and Trading Association will hold its annual membership meeting this Thursday where it will elect 10 new directors for its 2004 board.
  • Investment banks are gearing up to bid for the mandate to advise and lead Mirant's roughly $1 billion balance sheet refinancing, according to sister publication, Power, Finance & Risk.
  • Gary Ladolcetta has started at Commerce Bank in New Jersey as a managing director with responsibility for setting up a loan distribution business on a more formalized basis.
  • MetoKote Corp., the largest independent provider of industrial coating in the U.S., is adding debt to make dividend payments to private equity sponsor J.P. Morgan Partners or to repurchase no less than $30 million in stock.
  • Scotia Capital and Credit Suisse First Boston have shifted the tranche size and pricing on Weight Watchers International’s $500 million credit facility in the wake of oversubscription.
  • Sanjeev Handa is a managing director and head of more than $9 billion in asset-backed investments at TIAA-CREF in New York.
  • The price of default protection on companies linked with air travel jumped last week after a British Airways flight to Washington was grounded because of fears it was being targeted by terrorists.