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Securitization People and Markets

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  • Bank of America is in the market with a $280 million facility for Las Vegas-based Global Cash Access (GCA).
  • Adelphia Communications Corp. today announced what it believes will be the largest exit financing ever completed at $8.8 billion.
  • Thirty-nine names are in the book for the $200 million financing backing MultiPlan's $213 million acquisition of US Health, a subsidiary of BCE Emergis Corp.
  • CSG Investments, a Plano, Tex., firm with more than $2 billion in fixed income under management, is in the process of adding portfolio managers and other professionals to its bond division.
  • Clayton Dubilier & Rice has tapped Deutsche Bank, Citibank and Bank of America to lead the financing backing its $1.65 billion acquisition of VWR International, a subsidiary of Merck KGaA. Bear Stearns advised Merck, while Citi and Deutsche Bank advised CD&R.
  • Joe McCullough, a portfolio manager at Chandler Asset Management, a San Diego buy-side firm with more than $1 billion under management, has left the firm and the fund management industry.
  • The following is a list of prominent personnel moves from around the U.S. and European markets.
  • Owens Illinois was in talks with its banks last week to secure up to $1.5 billion in bank debt to finance the $1.46 billion acquisition of European glass container manufacturer BSN Glasspack.