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Securitization People and Markets

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  • Pricing has been assigned to the $805 million, JPMorgan and Lehman Brothers-led amended credit facility for TravelCenters of America.
  • UBS is leading a $500 million facility to back Advent International's $545 million acquisition of Boart Longyear Group, a part of Anglo Ferrous Metals, from Anglo American.
  • UBS has promoted executive director Kevin Latimer to head of par loan sales.
  • WestLB's North American investment banking corporate finance group has brought on board James McGovern as a director.
  • Osprey Group Asset Management is planning to launch a distressed fund sometime in the next month.
  • PSEG Energy Holdings is refinancing a $200 million revolver via Union Bank of California, trimming capacity by $50 million.
  • Deutsche Bank and Banc of America Securities have set pricing on the $1 billion credit facility for Silgan Holdings.
  • JPMorgan and Bank of America are leading an amended $805 million credit facility for TravelCenters of America that will refinance more expensive debt and put in place an essentially all-senior debt structure.
  • Investors are saying a price increase on a $300 million exit financing for clothing chain Eddie Bauer may be necessary to wrap up syndication.