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Securitization People and Markets

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  • Peabody Energy is looking to arrange a $1.35 billion package of loans to refinance and restructure existing borrowings, according to Power, Finance & Risk, an LMW sister publication.
  • Stan Sokolowski, head of loan trading at J.P. Morgan is London is moving to New York to take up a position in the investor client management unit.
  • Sovereign Bank has set up a loan syndications and trading group. William Maag, who was a managing director at Fleet Securities prior to the acquisition by Bank of America, is a senior v.p. and market manager.
  • Maxcor Financial Group, a broker-dealer in New York, has lost four more of its corporate traders and salesmen, bringing to at least five the number of corporate bond professionals it has lost in recent weeks.
  • Syndication is expected next month for the credit backing Jarden Corp.'s $745.6 million acquisition of American Household.
  • CIT Business Credit has set up a capital markets group and will be underwriting, syndicating and distributing credits as well as supporting them through a secondary trading platform.
  • Serologicals Corp. is continuing its acquisitive growth strategy, buying Upstate Group for $205 million following its purchase of AltaGen Biosciences in July.
  • Thorp is chief investment officer and runs ILEX's European credit opportunities fund with James Sclater, senior portfolio manager.