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Securitization People and Markets

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  • Avenue Capital Group has brought on board two analysts to build out its recently formed collateralized loan obligation business.
  • Jim Baldino will serve as head of credit portfolio management for the newly formed commercial bank and private bank at J.P. Morgan, when the merger with Bank One takes effect.
  • BNP Paribas is making a move to increase its presence in the U.S. leveraged loan market and has hired a leveraged finance vet from Credit Suisse First Boston to help in the effort.
  • Rent-A-Center is refinancing its credit facility to lower its cost-to-capital and get more favorable covenants.
  • Silver Point Finance stepped in last week to resolve serious balance sheet issues for Salton, maker of the George Foreman grill.
  • J.P. Morgan is shopping a repricing and retranching of media company Morris Communications Co.'s existing $225 million "B" loan.
  • The following is a list of prominent personnel moves from around the U.S. and European markets.
  • Pike Electric, the largest electrical contractor in the Eastern U.S., has drawn in $350 million for a planned $300 million "B" loan, which will fund the acquisition of a competitor.