The cutthroat high-yield market gained yet another player last week with the entry of a new Montgomery Securities unit.

The equities giant has had a high-yield finance group at its San Francisco base since 1993, and has managed over $5 billion of debt transactions in that time. Among them: a $125 million issue for Genesis Health Ventures, a $350 million issue for Host Marriott Corp., and a $200 million issue for Prime Hospitality.

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