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Egypt Bank of Tokyo-Mitsubishi has successfully closed the $100m term loan for Banque Misr. Joining the deal as co-arrangers are Erste Bank, Bank of New York, First Union National Bank and RZB, taking $15m for 40bp. The three year loan pays a margin of 60bp over Libor and will be used for general funding.

* BNP Paribas has added eight equity salespeople to its teams in London, Madrid, New York and Singapore. In London, Libby Kitson joins from ABN Amro, where she was a director, as a sales trader, reporting to London head of equity sales trading Simon Jeffries. Before joining ABN Amro in 1996, Kitson spent 11 years at Goldman Sachs. Also in London, Michael Ball joins from HSBC as a generalist European equities salesman, reporting to Tim Draper, global head of European equity sales. Ball joined HSBC from Warburg Dillon Read in 1999. Three more - Eric Hongisto, Alfonso Escarte and Felix de Gregorio - join in Madrid. Hongisto comes from BSCH, where he worked in European and Spanish sales and trading, as does Escarte. De Gregorio comes from Crédit Lyonnais Securities, where he worked in institutional equity sales. He will sell European equities to Spanish investors. Ricardo Mandelbaum heads the European equity team in Madrid.

Five and 10 year dollar swap spreads moved to an inverted relationship this week. By yesterday (Thursday) afternoon, the 10 year mid-market was around 88bp over the 5.75% August 2005 Treasury, while the five year mid-market was around 94.5bp over Treasuries. A week earlier, five and 10 year dollar swap spreads traded flat to each other. There are several reasons for this unusual development. Firstly, the five year note has been very special in the repo market. This happens when it trades at a borrowing rate below that of general collateral, but for much of this week the note has been at or around 0% in the overnight market.

France Credit Suisse First Boston and SG kicked off premarketing for the Eu1.5bn offering of Alstom shares yesterday (Thursday).

Norddeutsche Landesbank issued a public zloty trade for Z100 million ($24.46 million). The fixed-rate deal was lead managed by Deutsche Bank and pays a final coupon of 13.250%. It matures in 2004. Axel Weidemann, at Norddeutsche Landesbank, says: "We expect to raise euro3 billion ($2.82 billion) in the international markets this year and euro10 billion in the domestic market." It has not yet been decided if the MTN programme will be used for large public trades this year. But it will provide opportunistic funding. The borrower issued two Z50 million non-syndicated trades in July last year. They were lead managed by Royal Bank of Canada Europe.

* Landesbank Rheinland-Pfalz Girozentrale Rating: Aa1/AA/AAA

* Deutsche Hypothekenbank Frankfurt-Hamburg AG Rating: Aaa/AAA

* Linde Finance BV Guarantor: Linde AG

ABN Amro has set up a debt instrument programme specifically for issuing equity-linked notes. The signing date was December 21 2000.

Abbey National has issued its third sterling trade in as many weeks: a £

There are high jinks as well as the usual frisky fun and games at Deutsche Bank in London, where "Banker of the Year 2000" Josef Ackermann is holding the reins after the sad loss of brilliant team leader Edson Mitchell. Ackermann knows he can make any amount of promotions to plug the gaps in his front line, but his efforts will have no more lasting effect than wet Polyfilla. To replace Mitchell, he will eventually be forced to look outside. But please do not doubt Ackermann's skills or his powers of persuasion. As an example, take the clever and thoroughly likeable Colin Grassie, who was due to leave Deutsche to become head of sales at BNP Paribas. Indeed, Colin had packed his Louis Vuitton bags and the Frenchies at BNP Paribas were ready to welcome him with 21 gun salutes and a gold pass card for every restaurant in Europe with three Michelin stars. BNP Paribas is on something of a roll at the moment, and Philippe Blavier and David Ovenden have clearly decided that they have the brainpower and financial resources to compete with the bulge bracket American houses.

South Africa A $100m mining project financing will be launched within the next two weeks on behalf of Avgold.