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Barclays, Citigroup/SSSB, CSFB and HVB Group signed 16 banks into a $1.5bn one year credit facility for Ba2/BBB- rated Swiss Swedish engineering company ABB on Wednesday. The deal replaces a short term emergency liquidity line put in place for the company in April. That fell due on Tuesday.

Guarantor: Agricultural Bank of Greece SA Rating: Baa3

Sadly, this edition of EuroWeek is the last of 2002. Happily, the first publication of 2003 will be published on Friday, January 10, together with our Review of the Year 2002 & Outlook 2003. The following week (January 17) we will publish our Asian Review of the Year 2002 & Outlook 2003.

Rating: Aaa/AAA/AAA Amount: £200m

Henning Schulte-Noelle, chairman of Allianz's management board is to resign after the AGM on April 29 next year. Michael Diekmann, head of insurance in the Americas and group human resources, is to replace him.

Barclays Capital has completed a $260m extension of the $135m two year fundraising completed in January for Qantas Airways. The arranger held $25m. Co-arrangers comprise China Construction Bank (Hong Kong) pledging $80m, Norinchukin Bank (Singapore) absorbing $30m, and Bank of Nova Scotia Asia, Bayerische Landesbank (Hong Kong) and DZ Bank (Singapore) taking $20m apiece.

Amount: Eu397m Legal maturity: September 5, 2034

Amount: £210m Rating: Fitch/Standard & Poor's

Amount: Eu710m Rating: Moody's/S&P

JPMorgan has reorganized its structured credit operation in New York following the shock resignation of Romita Shetty, head of structured credit and alternative investments. Officials familiar with the firm's plans said Maleyne Syracuse, managing director, client management, will take over Shetty's responsibilities in origination and structuring, while Andrew Palmer, managing director, North American credit derivatives, will head the distribution effort. Syracuse and Palmer both report into Andrew Feldstein, managing director and head of credit portfolio management. A rival credit derivatives head said it was surprising that Syracuse would move into origination given her background in sales. Syracuse, Palmer and Feldstein did not return calls by press time.

Deutsche Bank and Crédit Lyonnais signed banks into the Eu380m debt facilities backing the PAI-led buy-out of new company Panzani on Wednesday. The debt facilities are split into Eu295m of senior debt and Eu85m of mezzanine debt.

Mandated arrangers Deutsche Bank signed banks into the 12 month extension of the $100m one year facility from December 2001 for Kazkommertsbank yesterday (Thursday) in Almaty. The deal has been oversubscribed and increased to $150m. The credit pays a margin of 225bp over Libor.