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Securitization People and Markets

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  • Basic Energy Services is refinancing and expanding its UBS-led credit facility.
  • J.P. Morgan is reorganizing its loan sales and trading group after the promotion of Eric Rosen to a newly created position of co-head of credit trading that incorporates loans.
  • GC Power Acquisition, the private equity-backed vehicle buying Texas Genco Holdings, will launch a $1.375 billion second-lien tranche next week, according to Power, Finance & Risk, an LMW sister publication.
  • Towle is partner, portfolio manager and director of high-yield and convertible securities at Lord Abbett in Jersey City, N.J
  • Greg Nelson, head of J.P. Morgan's global syndicated loan business, is retiring at the end of the year.
  • Northern Capital, an Andover, Mass.-based broker-dealer, is looking for a fixed-income salesman to cover middle market institutions.
  • J.P. Morgan and Bank of America launched syndication last week for a $650 million credit for Universal City Development Partners.
  • Jostens Intermediate Holding Corp. is in the market to cut the spread on its credit in what could be the fastest return ever for a repricing.
  • Lehman Brothers and CIT Group have jointly underwritten a $165 million second-lien loan for Primary Energy Holdings that funds the acquisition of a combined 270 MW of gas-fired co-generation facilities from Reservoir Capital Group.