Bank Loan Report articles from October 2005

Bank Loan Report archives from October 2005

Downward Price Flexes Abound In Hot Leveraged Loan Market.(Walter Industries Inc. needs finance to acquire Mueller Water Products)
October 3, 2005... When Walter Industries tapped the loan market last month to finance its acquisition of Mueller Water Products, the company got a pleasant surprise: the loan wasn't going to cost as much as initially thought. A coupon of Libor plus 225...

Neiman Turns To Loan Mart For More Debt.(Neiman Marcus Group Inc.)(Credit Suisse First Boston L.L.C. and Deutsche Bank AG )
October 3, 2005... Bargain shoppers tend to steer clear of The Neiman Marcus Group's pricey merchandise, but the high-end retailer can apparently spot a good deal when it sees one. That's because Dallas-based Neiman opted for the security of the red-hot loan...

SEC Reg May Make HFs Outsource More.(Securities and Exchange Commission)(hedge funds )
October 3, 2005... With the Securities and Exchange Commission (SEC) poised to sink its hooks into hedge funds - beginning in February 2006 when all hedge funds will be required to register with the SEC - such firms may start outsourcing labor more frequently to...

Targa Resources' $2.4B Deal To Launch Syndication Wednesday.(Credit Suisse First Boston L.L.C.)(Brief Article)
October 3, 2005... Credit Suisse First Boston, Merrill Lynch and Goldman Sachs are slated to hold a bank meeting in New York on Wednesday, October 5, to launch syndication of a $2.4 billion credit facility to back Targa Resources' acquisition of Dynegy's...

Bank Duo Launches Capella Deal.(Citigroup Inc. and Bank of America Corp.)(Capella Healthcare)(Brief Article)
October 3, 2005... Last Wednesday, Citigroup and Bank of America launched syndication of a $195 million credit facility for Capella Healthcare. The deal consists of a $40 million revolver due 2011, a $97 million term loan due 2012 and a $58 million second lien...

Roundy's Hires Bear, Goldman For Refi.(Bear Stearns Companies Inc. and The Goldman Sachs Group Inc.)(refinancing)(Brief Article)
October 3, 2005... Roundy's Supermarkets has hired Bear Stearns and Goldman Sachs to lead its refinancing deal. Proceeds will go to redeem the company's 8.875% senior subordinated notes due 2012, to pay down its bank debt and to pay a dividend to shareholders....

Two Private Equity Shops To Buy Party City.(Berkshire Partners L.L.C. and Weston Presidio acquire Party City Corp.)(Brief Article)
October 3, 2005... Last week, Berkshire Partners and Weston Presidio announced they had reached a definitive agreement to acquire Rockaway, N.J.-based party goods chain Party City Corp. for about $360 million. The transaction is going to be financed through a...

Tube City Loan Pulled.
October 3, 2005... Bear Stearns and CIBC World Markets have pulled a $275 million credit facility for Tube City after Tube City IMS cancelled its initial public offering of income participating securities due to market conditions, according to a source familiar...

Heating Oil Partners Receives DIP.(debtor-in-possession)(Brief Article)
October 3, 2005... Heating Oil Partners has received a commitment from lenders including Bank of America for up to $115 million in debtor-in-possession (DIP) loans, the company said in a statement last week. Proceeds from the DIP loan will be used to fund the...

Kay, Frenkenberg Join SG CIB Euro Leveraged Finance Team.(SG Corporate & Investment Banking appoints Peter Kay and Marc Frenkenberg)(Brief Article)
October 3, 2005... Peter Kay and Marc Frenkenberg are joining SG Corporate & Investment Banking's (SG CIB) European leveraged finance team in London as directors focusing on debt financing for leveraged buyouts (LBOs). The two additions to the London office will...

Rabo Hires Grobeck For CDO Business.(Ronald Grobeck appointed)(collateralized debt obligation)(Brief Article)
October 3, 2005... Ronald Grobeck is leaving The Carlyle Group to head Rabobank International's corporate collateralized debt obligation (CDO) fund business, Rabobank announced last week. He will be in charge of portfolio management, trading, structuring...

Fitch's Hardee To Head Asia-Pacific Structured Credit Team.
October 3, 2005... Last week, Fitch Ratings announced that Rachel Hardee is moving to the rating agency's Hong Kong office in January to head up the Asia-Pacific structured credit team. Hardee will be one of three analysts in the region that is dedicated solely...

Hobbs Heads Key's Colorado District.(Michael B. Hobbs appointed)(Brief Article)
October 3, 2005... KeyBank announced last week that it has appointed Michael B. Hobbs as president of the bank's Colorado district. In his new role, Hobbs is responsible for growing the bank's regional client base in retail banking, business banking and...

Weinberger Named To VP Of Central Region At GE CF.(Dustin R. Weinberger appointed)(Brief Article)
October 3, 2005... GE Commercial Finance Corporate Lending (GE CF) announced last Wednesday that it has named Dustin R. Weinberger as the vice president of origination for the firm's central region. Based out of Chicago, Weinberger will be responsible for...

Deutsche Bank Confab Sees Strong Turnout.(Collateralized Debt Obligation )
October 3, 2005... Amidst the sweltering Arizona heat, over 1,300 high yield market participants attended Deutsche Bank's annual global high yield conference at Scottsdale's The Phoenician hotel last week (on September 28 and September 29). The event included...

Ratings Movers: Scotsman Up On IPO/Dura Down On Auto Woes.
October 3, 2005... Following Williams Scotsman's recent completion of a $245 million initial public offering (IPO), Standard & Poor's raised a number of the company's ratings. The Baltimore-based company's $500 million revolver and $150 million term loan were...

The German Distressed Debt Market: A Land Of Opportunity?
October 3, 2005... by Dr. Andreas von Keitz, director, and Roman Zeller, managing director, at AlixPartners, Munich The German distressed debt market is the biggest and most attractive market of its kind in Europe. The market, estimated at approximately 160...

After Three Quarters, 2005 US Loan Volume Already Tops $1 Trillion.
October 10, 2005... It took only nine months for the US syndicated loan market to surpass the $1 trillion mark, with combined speculative grade and investment grade loans clocking in at a whopping $1.087 trillion, according to Thomson Financial. This marks the...

Bankruptcy Laws Could Affect Distressed.
October 10, 2005... Some distressed debt players may be in for a rude awakening following the commencement of the Bankruptcy Abuse Prevention and Consumer Protection Act (Bankruptcy Reform Act) on October 17. That's because not all distressed market constituents...

European Leveraged Loan Appetite Grows.
October 10, 2005... In a continuing bumper year for leveraged loan issuance in Europe, the third quarter ended with participants expecting more of the same for the remainder of 2005. Leveraged loan issuance for the year ended September 30 totaled $158.2...

American Tower Exits Leveraged, Institutional Loan Markets.(Brief Article)
October 10, 2005... Once a major issuer of loans to institutional investors in the leveraged loan market, American Tower Corp. is now looking to buyers of investment grade paper in order to refinance its existing debt and the debt of SpectraSite Communications,...

Tube City Back In Market With Divi Recap.(Bear Stearns Companies Inc. arranges loan for Wellspring Capital Management)(Brief Article)
October 10, 2005... After pulling an already-syndicated $250 million credit facility for Tube City late last month, sole lead Bear Stearns hit the market with another deal for the Glassport, Pa.-based company, this time with a $65 million term loan add-on that is...

CSFB Sells Tensar Loans.(Credit Suisse First Boston)(Brief Article)
October 10, 2005... Last Wednesday, sole lead Credit Suisse First Boston held a bank meeting to launch syndication of a $172 million credit facility in connection with Arcapita's acquisition of The Tensar Corp. from KRG Capital Partners. The deal includes a $25...

Bank Duo Pitches Alpha Natural Loan.(Citigroup Inc. and UBS AG, Alpha Natural Resources merges with Nicewonder)(Brief Article)
October 10, 2005... Last week, Citigroup and UBS went to market with a $500 million credit facility to, in part, back Alpha Natural Resources' $316 million acquisition of coal assets from the Nicewonder coal group. The deal is split between a $250 million,...

Bear Stearns, Goldman Launch Roundy's.(launches syndicated loans)(Brief Article)
October 10, 2005... Last week, Bear Stearns and Goldman Sachs launched syndication of an $825 million credit facility for Roundy's Supermarkets.The deal consists of a $125 million, five-year revolver and a $700 million, six-year institutional term loan. Proceeds...

United Picks JPM, Citi For $3B Exit Financing.(UAL Corp., J.P. Morgan Chase and Co., Citigroup Inc.)(Brief Article)
October 10, 2005... Last Thursday, UAL Corp. announced that JPMorgan and Citigroup will be joint lead arrangers for a $3 billion, six-year debt financing package that is a key part of the airline company's plan to emerge from bankruptcy in February 2006. The loan,...

Targa Launches To Buyside.(Brief Article)
October 10, 2005... Last week, Targa Resources held a bank meeting to launch syndication of a $2.4 billion credit facility to back its acquisition of Dynegy's midstream natural gas business. More than 100 investors were said to have attended the Wednesday meeting....

Neiman TL Active In Secondary.(Neiman Marcus Group Inc. takes loans for leverage buyouts)(Brief Article)
October 10, 2005... There was a flurry of trading activity after The Neiman Marcus Group's $1.975 billion institutional term loan, which had been upsized from an initial $1 billion, broke to trade early last week. One secondary market source said that offers for...

Four From GE CF Join Black Diamond.(GE Commercial Finance )(Black Diamond Commercial Finance )(Brief Article)
October 10, 2005... Four former GE Commercial Finance staffers are heading over to Black Diamond Commercial Finance as vice presidents. They are joining former GE CF managing director Stuart Armstrong, who left the commercial financing giant back in May to become...

Humphreys Elected As New LMA Chairman.(Loan Market Association)( Kim Humphreys )(Brief Article)
October 10, 2005... Last month, the Loan Market Association (LMA) announced that Kim Humphreys of Mizuho Corporate Bank has been elected as chairman, replacing Tim Ritchie of Barclays, who stepped down after nearly nine years in that post. Ian Fisher of Societe...

LSTA, S&P Launch New CUSIP System.(Loan Syndications and Trading Association)(Standard & Poor)(Committee on Uniform Securities Identification Procedures)(Brief Article)
October 10, 2005... Last week, The Loan Syndications and Trading Association (LSTA) unveiled its new online CUSIP application platform, for which the Web site is www.cusip.com. Banks can use the new system, which the LSTA developed with Standard & Poor's, to...

Ratings Movers: Waste Co. Up To B2/Viacom Down On Breakup.
October 10, 2005... Waste Services' bank debt was lifted into the single-B range last week after Moody's Investors Service upgraded its $100 million revolver and $60 million term loan A to B2 from Caa1. Moody's cited the company's ability to carry out a number of...

Dex Media, Texas Genco Acquisitions Will Mean More Mega Deals.
October 10, 2005... Adding to the ever-growing list of debt financings to back M&A and leveraged buyout activity, R.H. Donnelley Corp. announced last week that it plans to acquire rival directory company Dex Media for $4.2 billion (plus the assumption of debt),...

Ch. 11 Filing Drives Delphi Bank Debt Up, Bonds Down In Trading.
October 17, 2005... Delphi Corp.'s bankruptcy filing certainly jolted the markets last week, as the company joined the growing list of automotive suppliers to file for bankruptcy this year. While its bondholders and shareholders started selling off their exposure...

More Lender Agreements Favor 2nd Liens.(second lien loans)
October 17, 2005... In the relatively short amount of time since syndicated second lien loans started to become a popular form of debt financing, investors in this still-nascent loan product have made headway in negotiating more favorable terms within...

Ross: Auto Parts Resemble '02 Steel Sector.
October 17, 2005... The distressed auto parts supplier industry will not likely be a hotbed for quick investment returns, according to Wilbur Ross of WL Ross & Company, who delivered a keynote address at Financial Research Associates' Distressed Debt Summit 2005...

Accounting Scandal Causes Refco Debt To Plummet In Trading.
October 17, 2005... Refco Group's bank debt went on a roller coaster ride last week - a ride with some very, very steep drops. This was due to an accounting scandal that rapidly unfolded and eventually forced the company to halt withdrawals at subsidiary Refco...

Citgo Launch On Tap For This Week.(Citgo Petroleum Corp)(Brief Article)
October 17, 2005... This week, Citgo Petroleum Corp. is scheduled to hold a bank meeting in Houston to launch syndication of a $1.85 billion credit facility. The deal is expected to include a $1.15 billion, five-year revolver and a $700 million, senior secured,...

JPM, Deutsche Bank Shop LIN TV.(J.P. Morgan Chase and Co.)(LIN Television Corp.)(Deutsche Bank AG (Frankfurt, Germany))(Brief Article)
October 17, 2005... Last Tuesday, JPMorgan and Deutsche Bank hit the market with a $500 million credit facility for LIN Television Corp. that consists of a $250 million revolver and a $250 million delayed-draw term loan, both due 2011. Price talk for both tranches...

Levitz Files Chapter 11.(Levitz Home Furnishings )(Brief Article)
October 17, 2005... Last week, retail furniture chain Levitz Home Furnishings announced that it sought bankruptcy court approval for a $90 million debtor-in-possession loan. The Woodbury, N.Y.-headquartered furniture retailer filed for bankruptcy on October 11....

Fitch: Strong Euro Second Lien Issuance In Q3.
October 17, 2005... Europe's appetite for second lien loans is still growing, according to Fitch Ratings. According to a report issued last week, the volume of Fitch-rated European second lien loans was over $2.1 billion for the third quarter, a 16% increase over...

AlixPartners Rehires Osmun.(Thomas Osmun )(Brief Article)
October 17, 2005... AlixPartners, an international corporate restructuring firm, announced last week that Thomas Osmun has rejoined the firm as a director. Osmun most recently worked as a managing director at Conway DelGenio Gries & Company. Osmun specializes...

Fitch Recruits Matsui For CDO Asset Manager Group.
October 17, 2005... Fitch Ratings announced last week that Vincent Matsui has joined the ratings agency as a senior director in the collateralized debt obligation (CDO) asset manager ratings group. Prior to joining Fitch, Matsui worked at Swiss Re as an executive...

SG CIB Builds Up Euro Debt Capital Markets.(Ralf Lwe and Lennert Wiedemann joins SG Corporate & Investment Banking )(Brief Article)
October 17, 2005... SG Corporate & Investment Banking (SG CIB) announced last week that it made new appointments to its debt capital markets (DCM) teams. Ralf Lwe will join the bank on October 24 as a director for DCM financial origination in Germany, Austria and...

Renner To Retire From Wells Fargo.(Jim Renner)(Brief Article)
October 17, 2005... Wells Fargo Equipment Finance announced last week that the head of the business, Jim Renner, plans to retire at the end of this year. John McQueen will succeed Renner, who held the post for 13 years. McQueen will report to Tim Sloan, head of...

Key Appoints Woods To New Position.(Stephen R. Woods joins KeyBank )(Brief Article)
October 17, 2005... KeyBank announced last week that it has appointed Stephen R. Woods to a newly created position as national sales manager. In his new role, Woods will partner with regional executives and salespeople to enhance revenue for Key's retail, business...

DLJ Merchant Banking Opens LA Office.(DLJ Merchant Banking Partners)(Los Angeles )(Brief Article)
October 17, 2005... DLJ Merchant Banking Partners announced last week that it has opened an office in Los Angeles to augment its presence in New York and London. The middle market private equity investment business has selected in-house managing director Susan...

Wachovia: Discounted Closed-End Loan Funds Are Undervalued.
October 17, 2005... The trading levels of corporate closed-end loan funds have continued to slide as the year has progressed. After more than a year of trading at premiums, funds fell into a period of discounts beginning around March of this year, and those...

Ratings Movers: NTELOS Rises/Precise Falls On Performance.
October 17, 2005... NTELOS' bank debt climbed one notch up the ratings scale last week as a result of the company's better-than-expected financial and operating results. Moody's Investors Service upgraded the Waynesboro, Va.-based communications provider's $35...

CLO Managers Rush To Amend WAS Restrictions.(Collateralized loan obligation)(weighted average spread)
October 17, 2005... Collateralized loan obligation (CLO) collateral spread tightening has been so dramatic, particularly in subordinate tranches, that an increasing number of CLO managers are seeking to lower weighted average spread (WAS) requirements within their...

How Trade Names Helped Create Liquidity For Gibson Guitar.
October 17, 2005... by Ferrell Coppedge, Southeast/Atlantic division president, Bank of America Business Capital. "What's in a name?" Nashville, Tenn.-based Gibson Guitar Corp. recently found out how valuable its trade names are when it secured a $136.2...

Tension Eases In Loan Market As Refco Files, Flowers Steps In.
October 24, 2005... The week after an accounting scandal spooked Refco Group's debt holders and caused the trading levels of the company's bank and bond debt to plunge, a sense of normalcy returned to the leveraged loan market last week after Refco filed for...

TRS: Another Tool To Gain Loan Exposure.(benefits and usage of total return swap)
October 24, 2005... Many market constituents are well aware of the rapid growth of the leveraged loan market, which has been driven in large part by the vast number of institutional players who have entered the space in droves over recent years. However, many...

Usual Suspects Affect Q3 05 CDO Ratings.(strengths and weaknesses of collateralized debt obligations, Standard & Poor's Corp. rating)
October 24, 2005... The third quarter report card for US collateralized debt obligations (CDOs) released last week by Standard & Poor's showed some expected strengths - located in the high yield corporate bond and loan sectors - as well as the usual weaknesses,...

Bank Trio Launches Workflow Deal To Support Relizon Purchase.(Brief Article)
October 24, 2005... Last week, Credit Suisse First Boston, National City and Royal Bank of Canada hit the market with a $455 million credit facility for Workflow Management. The deal, which is in connection with the company's proposed acquisition of The Relizon...

CSFB, Deutsche Bank Shop Swett & Crawford.(Credit Suisse First Boston )(Brief Article)
October 24, 2005... In connection with Hicks, Muse, Tate & Furst's buyout of Swett & Crawford, the wholesale insurance brokerage firm emerged in the market last week with a $280 million credit facility split among a $20 million revolver, a $190 million term loan...

Targa Boosts TL, Trims Bond Offering.(Targa Resources)(Brief Article)
October 24, 2005... Targa Resources joined the growing list of issuers to downsize its bond offering in recent weeks, as the Houston-based company upsized its term loan tranche by $100 million and trimmed its offering of senior notes due 2013 to $250 million from...

JPM Pitches RGIS, Rinker Boats.(J.P. Morgan Securities Inc.)(RGIS Inventory Specialists )(Brief Article)
October 24, 2005... JPMorgan, Wachovia Securities and GE Capital are in the market with a $570 million, three-tranche credit facility for RGIS. The deal is split among a $70 million, five-year revolver; a $350 million, seven-year term loan B; and a $150 million,...

Moody's: Global Credit Quality Improves In Q3.(Moody's Investor Service)(Brief Article)
October 24, 2005... Last week, Moody's Investors Service reported that on a global scale, credit quality is on the rise. In an October 17 report, Moody's said that in the third quarter 2005, the number of upgrades continued to outpace the number of downgrades...

LMA Taps Ling-Locke As Associate Director.(Loan Market Association )(Brief Article)
October 24, 2005... Last week, the Loan Market Association (LMA) announced that Simon Ling-Locke was appointed as associate director of the LMA. Part of Ling-Locke's responsibilities will entail coordinating educational activities, the LMA said in a statement last...

NYLIM Promotes Malloy.(New York Life Investment Management)(appointment of Anthony Malloy)(Brief Article)
October 24, 2005... Earlier this month, New York Life Investment Management (NYLIM) promoted Anthony Malloy to senior managing director and head of the firm's securities investment group. In his new post, Malloy will oversee a 70-member staff that manages more...

BNP Taps Cassidy As Head Of Healthcare Banking.(BNP Paribas S.A.)(appointment of Thomas Cassidy)(Brief Article)
October 24, 2005... Last week, BNP Paribas announced that Thomas Cassidy was named head of healthcare banking within the bank's leveraged finance business. Cassidy, who reports to Kathryn Swintek, head of leveraged finance, North America, joins BNP Paribas from...

Citigroup Merges Fixed Income Groups.(Brief Article)
October 24, 2005... Citing the "continued convergence of fixed income products," Citigroup has merged its global loans, leveraged finance and asset-based finance teams under one group, which is now called global loans and leveraged finance. The change was...

McGovern Joins GE CF Media; Lynady Joins Corporate Lending.(appointment of James McGovern )(GE Commercial Finance )(Brief Article)
October 24, 2005... Last week, GE Commercial Finance's (GE CF) Global Media & Communications division announced that James McGovern has been named senior vice president, origination. In his new post, McGovern will be responsible for generating relationships with...

Chapman, Cutler Hires Patel For Corporate Finance.(appointment of Farhad K. Patel )(Brief Article)
October 24, 2005... Chicago-based law firm Chapman and Cutler announced last week that Farhad K. Patel has joined the firm as a partner in the corporate finance department. Patel, formerly of Skadden, Arps, Slate, Meagher & Flom, has experience dealing with...

Epstein Becker Recruits Ferko, Drago.(appointment of Sharon L. Ferko and Scott M. Drago )(Brief Article)
October 24, 2005... Epstein Becker & Green, P.C. announced last week that it has hired Sharon L. Ferko and Scott M. Drago as members of the firm's corporate and securities law practice in New York. Ferko formerly worked at Morgan Lewis & Bockius as a partner....

Gibson Dunn Appoints Guynn As Partner.(Steve Guynn )(Brief Article)
October 24, 2005... Gibson, Dunn & Crutcher announced last week that it has hired Steve Guynn as a partner in the firm's New York office. Guynn was formerly the chair of Jones Day's Latin American practice for 12 years, and he was a member of the firm's corporate...

Ratings Movers: Acquisitions Help Boost Fisher/Kodak Fades.(Fisher Scientific International Inc., Eastman Kodak Co.)
October 24, 2005... Fisher Scientific International, a wholesale distributor of scientific equipment and instruments, moved one step closer to investment grade last week as Moody's Investors Service boosted the company's $500 million revolver, $250 million term...

Investment, Players In Middle Market Lending Continue To Grow.
October 24, 2005... by Scott Poirier, managing director, NewStar Financial, Inc. As evidenced by record loan volumes, the middle market continues to aggressively attract capital in search of relative advantages in risk and return. Although recent market data...

It May Improve GMAC's Value, But Sale May Have Drawbacks.(General Motors Corp. to divest General Motors Acceptance Corp.)
October 24, 2005... General Motors Acceptance Corp.'s (GMAC) bonds rallied 15 to 20 points last week on news of the subsidiary's potential liberation from its struggling parent company General Motors Corp. (GM). Meanwhile, GM's bonds gained a few points early in...

Repko, Ying On Same Side Of Restructuring Table At Evercore.(Bill Repko)
October 24, 2005... Bill Repko, perhaps the best-known name in the corporate restructuring business, became a part-timer at JPMorgan, his employer of 32 years, this past spring in order to spend more time with his family. The part-time gig just didn't work out in...

The Second Lien Loan Market - Explosive And Bifurcated.
October 24, 2005... by Colin P. Cross, managing director - originations, Back Bay Capital Funding LLC The second lien loan market is once again expected to have a record year in 2005, after volume grew from $3.2 billion in 2003 to over $12 billion in 2004....

Market Value CDOs, CLOs Pick Up Steam In European Market.(collateralized debt obligation )
October 31, 2005... The market value collateralized debt obligation (CDO), a structure that had virtually disappeared from sight in the European financial marketplace over recent years, has reappeared. Sources say that these vehicles, which now come equipped with...

Market Urged To Heed Court Opinion.
October 31, 2005... Market players who buy and sell legal claims in the secondary loan market "cannot afford to ignore" a May court opinion that places the onus on JPMorgan to conduct discovery of the original holders of a loan in its lawsuit against former...

Can Spreads Get Even Tighter? Perhaps.(leveraged loan market )
October 31, 2005... Aside from a short-lived glitch back in May, the leveraged loan market has endured a good run over the past couple of years, as institutional investors have flooded the market, the default rate has remained low, and the asset class has become...

JPM, Citi Pitch Delphi DIP To Support Its Post-Petition Expenses.(J.P. Morgan Chase and Co.)
October 31, 2005... Last week, automotive supplier Delphi Corp., which filed for bankruptcy on October 8, hit the market with a mostly pro-rata debtor-in-possession (DIP) bank facility. The deal, which is led by JPMorgan and Citigroup, consists of a $1.75 billion,...

Toys R' Us Taps ABL Market.(asset-based term loan)(Brief Article)
October 31, 2005... Toys R' Us is seeking to repay a portion of a bridge loan that was part of the debt financing package used to finance the company's $6.6 billion leveraged buyout (LBO) earlier this year. On October 24, Deutsche Bank began shopping a $1.5...

Cablevision Pulls Buyout Deal.(between Dolan Family Group and Cablevision Systems Corp. )(Brief Article)
October 31, 2005... A $2.8 billion loan deal was erased from the forward calendar last week after the Dolan Family Group withdrew its bid to take Cablevision Systems Corp. private and spin off subsidiary Rainbow Media Holdings. The company had received a...

School Specialty LBO Cancelled.(Bain Capital Inc., Thomas H. Lee Partners lveraged buyout )
October 31, 2005... In addition to Cablevision, a second LBO was cancelled last week, as School Specialty announced that its proposed buyout by Bain Capital and Thomas H. Lee Partners was cancelled. The company had sought $650 million in bank loans to finance...

Team Health Bank Meeting Set For Tuesday.(Brief Article)
October 31, 2005... JPMorgan, Lehman Brothers and Merrill Lynch are expected to hold a meeting on Tuesday to launch a bank deal in connection with the proposed acquisition of Team Health by The Blackstone Group. According to a Securities and Exchange...

Metals USA Launch Slated For This Week.(Brief Article)
October 31, 2005... On Tuesday, joint lead arrangers Credit Suisse First Boston and Bank of America are slated to launch a $450 million ABL revolver for Metals USA in connection with its LBO by Apollo Management. The revolver includes a $415 million first-out...

Carter Joins TA Associates.(Mark Howard Carter )
October 31, 2005... Last week, private equity firm TA Associates announced that Mark Howard Carter has come on board to work with the firm's healthcare group in its Boston office. Carter, a vice president, is focusing on recapitalizations, management-led buyouts...

LSTA, LMA Issue Distressed Users Guide.(Loan Syndications And Trading Association)(Loan Market Association)(Brief Article)
October 31, 2005... Last week, The Loan Syndications And Trading Association (LSTA) and the Loan Market Association released a users guide that points out the similarities and differences between the two organizations' secondary trading documents for distressed...

ISDA Extends Novation Protocol Adherence Until November 30.(International Swaps and Derivatives Association)(Brief Article)
October 31, 2005... The International Swaps and Derivatives Association (ISDA) announced last week that over 700 adherents have signed up to the ISDA's Novation Protocol, a service that helps facilitate the transfer of an existing trade to a third party. But in...