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If Paul Revere were a leveraged loan or bond salesman, he'd probably say forget about the British (they're already here) and call out, "The entire world is coming!" Some sources say that the leveraged finance market is being invaded...

As defaults rise, the portion of defaulting companies owned by private equity firms has increased substantially. And market observers expect it to increase further next year, as such companies will face a much different market than...

It's a cliche traders love: buy low, sell high. For a two-year stretch starting in mid-####, however, many private equity pros argued that great returns could be had through buying high as long as leverage was applied liberally. In...

The fallout in the ABS and MBS markets has triggered the development of a new trend: structured finance professionals lending their expertise to asset management shops. Notably, institutional asset manager RiverSource Investments,...

Credit Suisse and Wachovia last week launched a $### million term loan for King Pharmaceuticals, a Bristol, Tenn.-based drug company. Price talk is at Libor plus ### bps, with an OID of ## and amortization that would stipulate ##% in...

A year ago, I wrote a column highlighting, in honor of the Thanksgiving holiday, some reasons for our markets to be thankful. I mean, it all seemed so dreary then. Consumer and investor confidence down, high yield bond deals pulled,...

Babson Capital Management announced a series of promotions recently. Thomas Finke, formerly president of the firm, will take the position of chairman and chief executive officer, effective Dec. #. He will also become vice president...

The CMBS market experienced what analysts called a meltdown recently, as super senior triple-A paper saw a significant fall in price. These securities were trading near $## at the close on Nov. ## - which was a ##% drop compared with...

The market was in brighter spirits before the Thanksgiving holiday, as ABS market participants quite fittingly gave thanks to U.S. Treasury Secretary Henry Paulson, who rolled out a Term Asset-Backed Securities Loan Facility (TALF)...

The fallout in the ABS and MBS markets has triggered the development of a new trend: structured finance professionals lending their expertise to asset management shops. A notable announcement was recently made by institutional asset...

Despite the lack of new deal flow, rating agencies are hard at work making improvements to their evaluation processes in hope of luring back investor confidence and restarting new issuance. Last week, Moody's Investors Service rolled...

November remittance reports showed continuing performance deterioration, which was largely expected by Street analysts, though still dramatic. For instance, the reports indicated that monthly aggregate ##+ day delinquencies rose by...

The U.S. Department of the Treasury and the Federal Reserve announced last Tuesday a program meant to inject liquidity into the beleaguered financial system. The initiative, which is called the Term Asset-Backed Securities Loan Facility...

In a market where financial institutions are scrambling to shore up capital with asset sales, firms that facilitate these transactions successfully are poised to emerge from the recession with deeper pockets. Mission Capital Advisors,...

Northern Rock's Granite Master Trust breached its non-asset trigger, because the current-seller share fell below the minimum on two consecutive distribution dates. The breach is the result of a strategic decision by Northern Rock's...

Securities Industry and Financial Markets Association (SIFMA) announced the launch of its European Covered Bond Dealers Association (ECBDA). The ECBDA will represent dealers in the European covered bond markets and aims to replicate...

"Since the beginning of ####, we have seen a tightening of lending standards and a reduction of introductory offers to new borrowers, which has set the ground for improvement in performance and better positioned these structures to...

MANCHESTER, N.H.-In a scene not seen in a century, credit union pioneers Alphonse Desjardins, Monsignor Pierre Hevey and Joseph Boivon all came together here to mark the ###th Anniversary of credit unions in the United States. Sponsored...

WASHINGTON-The two-part addition to the financial rescue plan unveiled last week could both help and hurt credit unions, albeit only indirectly, according to credit union economists. The Federal Reserve Board last week unveiled a plan...

LARGO, Fla.-Small CUs face the same problems as large credit unions, it's just that in some cases, the problems get bigger the smaller the CU. "It's not a lot different," said Linda Reynolds, CEO of Pinellas CU. "We have issues with...