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Claim that fees put off institutional investors denied
Meanwhile, BNP Paribas hires in structured finance
Debut manager is launching a CLO platform building on leveraged loan market experience
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First Reserve Corp., a $4.7 billion private-equity company focused on the energy industry, has selected Citigroup, Morgan Stanley and UBS to lead bank debt and high-yield bonds for its $1.2 billion acquisition of Dresser Rand Co. from Ingersoll Rand Co.
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UBS and Goldman Sachs are prepping a $500 million bank loan for office-furniture manufacturer Knoll that will refinance debt and pay a dividend to sponsor Warburg Pincus.
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Waste Services has received a waiver from its senior lenders for non-compliance with certain financial covenants.
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Gossard is a portfolio manager responsible for $500 million in investment-grade fixed-income at Mesirow Financial in Chicago.
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Citigroup has jacked up the pricing on AM General's new credit facility after investors said they needed to be paid more to get comfortable with the deal's sponsors, specifically the Renco Group. -
Denny's Corp. has increased the size and decreased the spread on its proposed credit facility, while at the same time reducing a proposed bond offering.
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Mark Wirth, a former fixed-income portfolio manager at Northern Trust, has joined Freddie Mac in McLean, Va.
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LifePoint Hospitals has tapped Citigroup to lead the financing backing its $1.7 billion acquisition of Province Healthcare Co. because of Citi's strength in banking and strong healthcare group, according to Michael Culotta, LifePoint's senior v.p. and cfo.
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NDCHealth Corp. has amended its credit facility to avoid potential covenant violations after sales declined by 3% to $111 million for the last quarter and EBITDA margins fell to approximately 20% in the quarter from about 30% in most quarters over the past two years.
