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Carlos Hernandez, JP Morgan's global head of equity capital and derivatives markets, has been appointed head of US equity markets at the bank. JP Morgan has made the position of global head of ECDM redundant, and instead regional heads of ECDM will report to regional heads of equities.

MDM Bank is to chart new territory for Russia's capital markets in the next few months with the establishment of the country's first ever Euro-commercial paper (EuroCP) facility. Andrey Dobrinin, director of international capital markets at MDM Bank, told EuroWeek at Euromoney's Bond Investors Congress in London this week that it was targeting a $150m programme and hopes to have signed the facility by the end of the first quarter/start of the second quarter.

Rating: Aa3/A+/AA Amount: Eu200m

Rating: A1/A/A+ Amount: Eu500m

Guarantor: Nestlé SA Rating: Aaa/AAA

Rating: Aaa/AAA Amount: $300m

The new chairman of the US Securities and Exchange Commission (SEC) has promised to make the financial markets more accountable in the wake of the corporate frauds that have rocked investors' confidence. Former investment banker William Donaldson, who was sworn into the post this week, also said he would encourage better relationships with small investors.

Italy Struggling industrials group Fiat denied on Wednesday that it had decided to launch a capital increase. Following a meeting with its advising banks last Saturday, the Italian press had claimed the company was planning to raise Eu1.7bn-Eu3bn through a rights issue.

A number of banks have signed up as sub-underwriters for the $500m five year term loan for Bangko Sentral ng Pilipinas arranged by Citigroup/SSB, Crédit Lyonnais, HSBC, ICBC, Sumitomo Mitsui Banking Corp, TMI International (HK) and Mizuho. The arrangers have extended the deadline until next week to allow a few stragglers to obtain head office credit approval.

Amount: Eu190.5m Legal maturity: May 5, 2013

Mandated arranger BayernLB launched the Eu125m three year bullet term loan for Bank Millennium into general syndication on Tuesday. Three tickets are on offer: co-arranger for Eu10m for 33bp; senior lead manager for Eu7.5m for 30bp; and lead manager for Eu5m for 27bp. Commitments are due by March 11. The deal pays a margin of 45bp over Libor. Proceeds will be used to refinance a $170m term loan signed in April 2000. Syndication of the $25m two year and one day multi-currency facility for Bank Amerykanski w Polsce (American Bank of Poland) will be closed next week by the mandated arrangers.