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Deutsche Telekom International Finance has concluded a two-year ¥30 billion ($250.5 million) note to be issued on June 4. The note pays interest quarterly.

Israel Electric Corporation has issued a 10-year $600 million note. The note has a single interest payment frequency and pays a final coupon of 7.950%. This is the issuer's second note of the year, following a $100 million note issued in March.

Dresdner Kleinwort Wasserstein has added three debt marketers to its Italian origination operation. Two, Jimmy Fiore and Fulvia Neri, join the asset backed and financial institutions coverage operations in the Milan office.

Croatia EuroWeek hears that Hrvatska Elektroprivreda (HEP) has approached the loan market to secure financing for reconstruction of its networks. It is thought that HEP needs Eu40m to repair war damage.

US insurance firm American International Group this week hit back at critics of its stance on the Hollywood Funding film finance securitisations, which were credit enhanced by AIG insurance policies, after the English Court of Appeal published a judgment on a related case. The Hollywood deals were a string of securitisations that Credit Suisse First Boston placed privately for Flashpoint Ltd, a Jersey registered film finance company, in 1997 and 1998.

Cetlem, a subsidiary of BNP Paribas and the largest consumer finance company in France, this week launched a Eu320m deal from its MasterNoria master trust vehicle, which parcels its consumer loans. Lead managed by BNP Paribas, the deal is Cetlem's seventh issue and the fourth to use the MasterNoria vehicle, set up in October 1998. Investors are now used to the structure and it had received a good reception from the market, tightening spreads compared to its last issue in June last year.

BancApulia SpA, based in the Apulia region of southern Italy, launched its first securitisation on Monday - a Eu204.025m deal backed by a pool of its performing and non-performing mortgages loans (NPLs). Lead managed by BNP Paribas, the deal is BancApulia's first securitisation. Like other Itakian banks BancApulia wants to clear many of its NPLs off its balance sheet before the favourable accounting and tax regime, introduced by the Italian government for this purpose when it set the legal framework for securitisation laws in the country in 1999, ends at the end of this month.

Banca di Roma this week got away its third securitisation of Italian non-performing loans (NPLs), selling Eu750m of bonds through Trevi Finance No 3 SpA. The deal, lead managed by ABN Amro (books) and Mediocredito Centrale and co-led by BNP Paribas, securitises a pool of NPLs originated by Banca di Roma and its subsidiaries Mediocredito Centrale and Leasing Roma.

EBS, Ireland's largest building society, this week launched its second securitisation of its mortgages with a Eu525m deal via Credit Suisse First Boston. It is the second Irish deal to come this month, following IIB Homeloans' Eu650m transaction two weeks ago. Irish MBS are attracting a good reception from investors with spreads on both deals setting benchmarks for this sector.

Three of the most significant asset backed deals of 2001 may emerge next week, as the market gears up for the traditional busy month of June. Morgan Stanley, San Paolo IMI and UBS Warburg expect to price the Italian government's second securitisation of delinquent social security contributions to its agency INPS on Tuesday, after about two weeks of marketing.

Banca Monte dei Paschi di Siena SpA (MPS), one of Italy's 10 largest banks, this week launched its third securitisation - a Eu194m deal backed by a pool of non-performing mortgage loans. The deal is one of three Italian securitisations backed by non-performing loans (NPLs) to be launched this week. This surge is due to the imminent end of the favourable tax and accounting regime, which was introduced two years ago to drive the securitisation of non-performing loans and finishes at the end of May.

Servizi Assicurativi del Commercio Estero (SACE), the Italian export credit guarantee agency, hopes to launch today (Friday) its $525m securitisation of Paris Club debt - rescheduled obligations of emerging market sovereigns. Aegis Srl will be lead managed by JP Morgan and UBS Warburg, and will comprise a single Eu525m tranche rated triple-A by all three agencies.