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Mandated lead arrangers Credit Suisse First Boston and Crédit Lyonnais will launch syndication of the £391m seven year term loan for Sun CP Properties Ltd imminently. Three tickets are on offer: arranger for a ticket of £50m for a fee of 75bp; co-arranger for a take of £30m for a fee of 60bp; and senior lead manager for a take of £20m for a fee of 45bp. The deal pays a margin of 150bp over Libor.

Swiss Life replaced its chief executive Roland Chlapowski this week after it was revealed that a controversial off balance sheet investment netted him Sfr3.2m in profits. Rolf Dörig, a relative unknown to the insurance market, will replace Chlapowski at the end of the year. He has been given the job of restoring confidence in the Swiss insurer as it prepares to raise Sfr1.2bn through a rights issue.

HBOS and RBS have been mandated to arrange the debt facilities supporting the buy-out of SR Technics from SAirGroup by 3i and Star Capital. The total deal size will be Eu425m, including additional investment in the business with equity provided by 3i, management and co-investors.

Mandated arrangers Danske Bank, Mizuho and Nordea signed banks into the Eu250m leveraged financing for Findus this week. The deal was oversubscribed by close to 50%, but will not be increased. The facility is split into two tranches. Tranche 'A' is a Eu120m loan which pays a margin of 200bp over Libor. Tranche 'B' is a Eu10m facility which pays a margin of 250bp. There is also a Eu45m revolver which pays a margin of 200bp over Libor.

ABN Amro is marketing a securitisation of residential mortgages originated by Municipality of The Hague. The Eu217m transaction is backed mainly by loans to civil servants from a portfolio acquired by ABN Bank NV. Stichting Uiver 2002 offers a Eu206m triple-A tranche with a legal maturity of 2039 and an average life of 5.5 years. Price talk is 24bp area and ABN Amro plans to launch the deal at the end of next week.

Dresdner Kleinwort Wasserstein is planning to launch a securitisation of its aircraft loan portfolio after pulling the deal in September 2001. The $155m fully funded synthetic deal will remove credit risk mainly from the bank's aircraft portfolio, which it acquired from Tokai Bank in 1999, by transferring the risk of loan default to a special purchase vehicle. Dresdner will also obtain regulatory capital relief.

DZ Bank, the central bank for Germany's co-operative network, this week launched two securitisations sold mainly to the country's co-operative network - a Eu1bn synthetic collateralised debt obligation and a Eu623m residential mortgage deal from the Provide programme. Dynaso 2002-1, DZ's first arbitrage collateralised debt obligation, is designed to expand the co-operative network's range of investment instruments - the co-operative banks have strict investment criteria subject to credit committees and independent auditors.

Bookrunner Morgan Stanley and co-manager Sampo Bank are marketing a securitisation of forest land and felling rights from Finnish integrated forest products company Stora Enso. This groundbreaking transaction brings a new asset class to the whole business securitisation sector and to the quiet Scandinavian structured finance market.

Spreads held firm this week in the Spanish mortgage market as investors absorbed another wave of paper from Bancaja and four smaller bank issuers. This quarter has seen an unprecedented level of supply in the sector, beginning with Bankinter's Eu1.025bn offering in October.

GFI plans to start brokering Asian credit-default swaps out of its Hong Kong office in the coming weeks. The firm currently brokers the products out of its Sydney office, but is moving its operation to Hong Kong because increased volumes warrant having brokers nearer the clients. The Sydney office will still broker Japanese and Australian default swaps, said Michel Everaert, global head of product marketing in London.

Merrill Lynch has merged its U.S.-based strategic solutions group (SSG), a specialized group responsible for structuring and marketing derivatives-based transactions to U.S. corporations, into its derivatives sales division. As part of the integration process Merrill is looking to place Keith Jacobson, a managing director who headed the strategic solutions group, in another role within the firm. Ricus Van Der Lee, a managing director in the group who had reported to Jacobson, has left. Van Der Lee was unable to be contacted while Jacobson did not return calls. Michael DuVally, a Merrill spokesman in New York, would only say that Jacobson continues to be an employee in Merrill's debt division.

TD Securities plans to bolster its U.S.-based equity derivatives team following a recent reorganization of its global derivatives business. Joseph Hegener, vice chair in New York, said the firm is in talks to hire a head of equity derivatives and double its team of four structurers and traders. TD is hiring now because it is making money in this business and the current economic climate makes it a good time to hire, Hegener said.