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Were we correct when we suggested that a whiff of grape-shot might be in the air above the gold and marble towers of 1, Finsbury Avenue, the palatial residence of UBS Warburg? We had heard that a game of musical chairs might be taking place and we were naturally all agog to see who was left alive when the music stopped. Our advance information, supplied entirely by Slapper Alice, head barmaid of the nearby Dog and Puddle saloon, wasn't totally accurate in every respect, but we still gave Alice a score of eight out of 10.

The long road to Wembley left another victim by the wayside last week when Barclays was outflanked by WestLB in the latest twist in the saga of financing the new Wembley National Stadium. Up until last week, Barclays was under the impression that is was the only bank to be working with the Football Association on the financing for the new stadium, which is being developed through Wembley National Stadium Ltd.

EuorWeek understands that banks are bidding on the mandate to arrange the debt supporting the £267m management buy-out of Westminster Health Care that is being sponsored by 3i. More details on the debt facility backing the buy-out will be released soon.

Wilmington Trust, one of the leading providers of corporate trust services in the US, has acquired SPV Management, a UK company which specialises in providing special purpose vehicles (SPVs) for securitisations. The cost of the acquisition has not yet been disclosed, but it is expected to give Wilmington $4m of revenue and $3.2m of costs a year.

Shell Finance has upped the limit off its global CP programme to $10 billion from $6 billion. The programme was signed in July 2000 via Goldman Sachs.

JP Morgan and Deutsche Bank this week launched the $3bn five year multi-currency revolver for Germany's Siemens into general syndication. The loan is not underwritten and the Aa3/AA- rated borrower has no intention of drawing the facility down. Therefore, as long as the market believes Siemens will stand by its intentions, the 8bp commitment fee will be at the centre of attention.

JP Morgan and Deutsche Bank this week launched the $3bn five year multi-currency revolver for Germany's Siemens into general syndication. The loan is not underwritten and the Aa3/AA- rated borrower has no intention of drawing the facility down. Therefore, as long as the market believes Siemens will stand by its intentions, the 8bp commitment fee will be at the centre of attention.

Bidding groups have been formed as banks attempt to win the mandate for the S$1.7bn fundraising for StarHub, Singapore's second largest telecommunications company. No date for the award of the mandate has been set, but bankers expect the borrower to wait until the S$250m deal for MobileOne (Asia) Pte has been completed before proceeding with the financing.

Citigroup/SSB, Commerzbank and Dresdner Kleinwort Wasserstein are preparing an information memorandum for steel company Iscor's $150m three year term loan. The loan should be launched into general syndication within the next 10 days. EuroWeek understands that the loan will carry a margin of between 70bp and 80bp over Libor.

EuroWeek understands that Telekom Slovenije is close to announcing the mandate for a Eu100m five year facility. Six banks have been invited to bid and an award is expected next week. The facility will carry a guarantee from the EIB. More details will be available next week.

Arrangers of the Eu400m seven year multi-currency facility for the Aa2/AA rated City of Göteborg are waiting for one last bank to join the deal before closing the books today (Friday). Signing is scheduled for June.

Sponsor ESB is due to announce the arranging mandate for its BBE combined cycle gas turbine power project imminently. Banks understood to be close to the mandate include ABN Amro, BNP Paribas and Royal Bank of Scotland. The Eu500m project is likely to have a tenor of between 12 and 15 years.