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ABN Amro cemented its presence in the Portuguese mortgage securitisation market this week, arranging a finely priced Eu1bn deal for Banco Comercial Português (BCP) just three weeks after bringing a Eu700m repeat issue for Caixa Económica Montepio Geral.

Citigroup and RBS have won joint bookrunner mandates for two large pub securitisations, which will be roadshowed for the rest of the month and are expected to be launched in November.

Citigroup and Bank of America netted two senior managing agents last week after launching syndication late last month to pro rata players for the $1.65 billion credit backing the buyout of Ondeo Nalco (LMW, 9/29).

NUI Utilities has entered into a letter of intent with a third-party lender for a $50 million unsecured credit to fund its short-term needs as parent NUI Corp.'s board of directors pursue the sale of the company, said Linda Lennox, director of investor relations.

JPMorgan and Morgan Stanley are launching an index of the 25 most liquid credit-default swaps in Asia. The firms launched a similar index in Australia last week and have been rolling out other regional so-called TRAC-X indices since April. "This will allow end-users and the dealer community to easily trade and hedge Asia as a macro-sector," said Robert Breden, executive director and Japan and non-Japan Asia head of investment grade trading and structuring in Tokyo.

Large pieces of Allegiance Telecom have traded over the last week as the levels for the company's bank debt continue on their upward push into the 92-94 context.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

Banc of America Securities has placed the firm's high grade bond and credit derivatives business lines under one head and is planning a principal finance unit as part of an overhaul of its fixed income division. Principal finance is the hottest area of the structured credit arena, with several firms, such as Merrill Lynch (DW, 8/3), setting up desks. Market officials speculated that BofA's motivation for setting up the desk is to take advantage of the ripe secondary CDO market. Jeff Hershberger, spokesman in New York, confirmed the reorganization.

Ken MacKenzie, head of U.S. equity derivatives trading at Citigroup Capital Markets, has left the firm. MacKenzie, who could not be reached, is not yet thought to have joined a competitor. Bret Engelkemier, head of index options trading in New York, has taken on MacKenzie's responsibilities in addition to his existing role. Engelkemier said he is excited by the new role and sees a lot of market potential to develop the firm's trading presence and sign new clients.