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Securitization People and Markets

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  • GE Capital is preparing a $220 million refinancing for Roller Bearing, a manufacturer and distributor of precision-bearing products.
  • Amy Siskind, a managing director of bank debt trading at The Seaport Group, has left the firm.
  • A spate of leveraged companies issuing Income Deposit Securities (IDS) has caused Standard & Poor's to raise concerns over the potential usage of the hybrid security, which is beginning to pick up in popularity.
  • MasTec has requested amendments to its $125 million credit facility with Fleet Securities, now Bank of America, related to violations due to a registered net loss of $39.7 million on revenue of $873.9 million in 2003.
  • The following is a list of prominent personnel moves from around the U.S. and European markets.
  • A group of private-equity firms have announced plans to move into middle-market financing claiming the market is underserved.
  • aaiPharma's bank debt jumped up right under par after the company announced that it had received a commitment for a $15 million revolver and $120 million term loan underwritten by Silver Point Finance and arranged by Banc of America Securities.
  • Credit Suisse First Boston and Morgan Stanley launched syndication last Thursday of a $210 million facility backing WellCare Heath Plans' acquisition of Harmony Health Systems.
  • Proceeds from The Holmes Group's new $420 million credit will refinance existing bank debt, retire bonds and pay a dividend to sponsor Berkshire Partners.