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Eurohypo is delaying its inaugural real estate securitisation after investors said the deal contained too much exposure to City of London office properties. The bank is restructuring the portfolio and plans to launch the deal later in the year.

FHB Land Credit and Mortgage Bank, Hungary's state owned mortgage lender, will next week start marketing an innovative structured covered bond.

Mirant Corp.'s bank debt continued to trade actively this week, sinking back into the 60s as the maturity on its $1.125 billion revolver looms and the company has yet to complete its $5.3 billion debt overhaul. Traders said the '03 revolver maturing next week traded as low as the 62 1/2 - 63 range and by Wednesday afternoon was bid at 61 1/2. Last week, the paper was quoted in the 72-74 range.

Convertible and capital structure arbitrage trading desks at firms including Commerzbank Securities and CRT Capital Group in the U.S. are increasingly on the prowl for professionals with backgrounds as high-yield analysts as a greater focus is placed on fundamental credit analysis skills. Carlos Mejia, v.p. at executive search firm the Options Group in New York, said the market is shifting from a focus on volatility and historical performance data to one that values a more credit intensive approach. This has become more important in the aftermath of fallen angels such as WorldCom.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

Commerzbank Securities has hired Puru Sareen, equity strategist at Merrill Lynch in New York, as an equity derivatives salesman and structurer. He will report to Kumar Doraiswami, head of institutional sales, who said Sareen will start in the coming week.

China International Marine Containers (Group) Co., one of the world's largest manufacturers of marine containers with over CNY9.44 billion (USD1.14 billion) in assets, is considering entering interest rate swaps on the back of upcoming debt issues. "We've been [looking] into the possibility of new long-term financing," said Tony Yao, assistant manager in the finance department in Shenzhen.

Bank of Tokyo-Mitsubishi is gearing up to restart its weather derivatives business in Japan. Earlier this year the bank decided to shift its derivatives-related businesses to Mitsubishi Securities to integrate cash and derivatives products (DW, 4/4). Hiroshi Yoshimine, global head and general manager of the derivatives and structured products division, said that as part of the move, the firm is in the process of obtaining a weather derivatives license for the securities house and should receive the green light from the regulators in the next few months.