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JP Morgan has made Jonathan Laredo, its head of structured finance in Europe, redundant. The split is amicable - JP Morgan's structured finance business has performed well during Laredo's two year tenure - but Fawzi Kyriakos-Saad, head of credit, is understood to believe that the post is no longer necessary.

JP Morgan has made Jonathan Laredo, its head of structured finance in Europe, redundant. The split is amicable - JP Morgan's structured finance business has performed well during Laredo's two year tenure - but Fawzi Kyriakos-Saad, head of credit, is understood to believe that the post is no longer necessary.

The movie world is awash with talk about the Oscars, Golden Globes and the next instalments of the Terminator and Matrix film series. But the MTN market's eyes are focused on just one sequel...Thorrablot Three: The Return of the Viking. Just when you thought it was safe to go back into the bar, the dried catfish and jugs of Brennivin return. Leak received its invitation to Islandsbanki's annual bash at London's Bluebird Club this week, complete with some unidentifiable shrink-wrapped fish, a Thor the Viking keyring and a plastic sword (or as the Islandsbanki boys say "an unimaginable instrument of oppression"). The sword is not for re-enacting your favourite battle scene from The Lord of the Rings, but for dispatching oneself after sampling the catfish.

CSFB and SG have launched the first stage of syndication of the Eu769m debt facilities backing the Bain Capital-led Eu1.5bn buy-out of TotalFinaElf's paints business, SigmaKalon. Banks have been invited to commit as sub-underwriters for an initial Eu100m to be brought down to Eu50m for 140bp in total fees.

The popularity of Russian risk among participants in the syndicated loan market continues unabated and this week two new bank deals were close to launch. And bankers say there is a flood of refinancings on the way. The first deal is a $20m one year trade related loan for Ural-Siberia Bank. The second is a $25m-$30m one year facility for Industry & Construction Bank of St Petersburg (OJSC).

Rating: A2/A/A+ Amount: ¥20bn

Amount: Sfr375m Maturity: February 14, 2006

Citigroup/SSB and Natexis Banque Populaires have won the mandate to arrange a $100m one year credit for Bumiputra Commerce Bank Bhd. The borrower completed its inaugural financing in February 2002 with a $150m one year transaction that paid an all-in of 56bp at the top tier.

Compiled by Richard Favis RBC Capital Markets

Compiled by Holger Kron Deutsche Bank, Frankfurt