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Securitization People and Markets

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  • Al Dombrowski, a par/crossover trader at Goldman Sachs, has moved internally to take a position as head trader for the Special Situations Investing (SSI) group.
  • The Goodyear Tire & Rubber Co. is turning to institutional lenders for a $500 million synthetic letter of credit facility that will replace its maturing $680 million revolver, currently held by banks.
  • J.P. Morgan and Bank of America are in the market with a $1.55 billion refinancing for Community Health Systems.
  • Alderwoods Group is increasing its term loan by approximately $175 million to $385 million and has brought on board Morgan Stanley alongside existing lead Bank of America for the amendment.
  • Funeral home and cemetery operator Alderwoods Group is increasing its term loan by approximately $175 million to $385 million and has brought on board Morgan Stanley alongside existing lead Bank of America for the amendment.
  • GE Capital and Calyon kicked off syndication today for a refinancing and recapitalization of Alliant Resources Group.
  • Bank of America is leading a $275 million second-lien term loan for NES Rental Holdings that is anticipated to price in the LIBOR plus 500 range.
  • Jeff Stuart, head of structuring and marketing for syndications at Bank of Tokyo-Mitsubishi (BTM), has joined The Royal Bank of Scotland (RBS) as managing director and head of loan markets for the Americas.
  • Lehman Brothers and Bear Stearns held a bank meeting last Thursday for an amendment to Pinnacle Entertainment's credit that will reprice the "B" loan at a lower rate.