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Russian investment bank Aton Capital has hired Dima Starenko to head up its equity and fixed income trading group. Before joining Aton, Starenko was general director of Nettrader, which he helped to set up. Previously he was head of securities at Fleming UCB, chief equity trader at Troika Dialog and a general director of Regent European Securities (Moscow). "Having such an experienced professional on our trading team who is well known in the domestic market raises our ability to service institutional investors,'' said Yevgeni Yuriev, Aton Capital's president.

Rating: Aaa Amount: £100m Öffentlicher Pfandbrief

Municipality Finance has increased the debt size of its euro1 billion ($939.65 million) debt issuance programme. The programme's ceiling is now euro1.5 billion. It has six live trades outstanding off the programme worth $180.39 million.

Amount: £400m index-linked bonds Tranche 1: £50m

Guarantor: National Bank of Greece SA Rating: Baa1/BBB

The syndication of the $3.5bn five year revolver for A-/A3- rated Royal Philips Electronics is progressing well with the majority of commitments expected next week. The deal is being sold as a strong relationship play, with the prospect of plentiful ancillary business a key to drawing in sufficient support.

The £9bn loan facility for Network Rail is expected to be signed imminently, possibly as early as today (Friday). Nine banks - UBS Warburg, Barclays, Dresdner Kleinwort Wasserstein, Citigroup/SSSB, HSBC, Merrill Lynch, Royal Bank of Canada, Royal Bank of Scotland and WestLB - have each committed £1bn to the deal.

Finland The Finnish government yesterday afternoon (Thursday) completed its Eu420m marketed secondary offering in Fortum at a share price of Eu5.50, a 2% discount to the closing price of Eu5.61. Merrill Lynch lead managed the offering which was 2.2 times covered. The government sold 77m shares, comprising 9% of the company, to reduce its stake in the stock to 61%.

Rating: Aa3/AA- Amount: Ck500m

Senior syndication of the Eu500m five year term loan for power company Hafslund has been closed and launched into general syndication by joint bookrunners BayernLB and DnB Markets. Crédit Lyonnais, Danske Bank, Nordea, SEB Merchant Banking and Union Bank of Norway have joined for takes of Eu60m.

Paccar Financial Europe has updated the debt ceiling off its Euro-CP programme. The amount has been increased from euro400 million ($379.4 million) to euro750 million.

Amount: $2.781bn, Eu750m, £1.104bn Series 1 Class A: $750m