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The $250m five year term loan for Emirates Bank has closed $25m short. Banks will be signed in to the $225m facility today (Friday). Emirates' new facility has been in trouble since it launched into senior syndication on the Monday before the twin towers in New York were destroyed.

* DePfa Bank Europe plc Keepwell agreement: DePfa Deutsche Pfandbriefbank AG

Croatia BayernLB and Mizuho (DKB and Fuji) have joined the Eu50m deal for Croatian Bank for Reconstruction and Development (HBOR) in senior syndication.

EasyJet is to price a £148m equity placing this morning (Friday), as investors endorse the airline's aggressive plans for expansion. Lead managers UBS Warburg and Credit Suisse First Boston (CSFB) will place 39m shares with investors today at a tight discount to yesterday's (Thursday) closing price of 382.5p. Bankers reported last night that the book was well covered.

Espirito Santo Financial Group (ESFG), the Portugese financial group, completed a Eu150m convertible issue on Tuesday, despite the distractions of Pinault Printemps-Redoute's (PPR) Eu1.4bn issue (see page 21). Launched on the same day as PPR, many said ESFG was unlucky with its timing, but despite the competition it still managed to create enough demand to increase the bond. ESFG went out to the market with an initial size of Eu125m, but demand was so strong that Lehman Brothers, which led the issue, was able to increase it.

South Africa-based oil and gas group Energy Africa this week announced plans to tap the international capital markets. Energy Africa is looking to raise up to $200m. Half of the amount will be made up of debt, with the remaining $100m to be raised from the equity markets.

Citibank, BBVA, Caja Madrid and BNP Paribas have postponed the Eu2.9bn loan for Auna Operadores de Telecommunicaciones (Auna). The Spanish telephony and TV holding company has looked at its need to develop its cable network, and decided to put on hold any expansion plans until next year.

Olivetti will launch its Eu3.9bn combined convertible and equity rights issue on Monday, as it continues its strategy of reducing debt raised from the acquisition of Telecom Italia in 1999. Holders of Olivetti common shares and convertibles will be able to buy one new share or bond for every two shares or bonds held. The new convertible bond will have a coupon of 1.5%, a redemption premium at maturity of 18.3% and an actual yield to maturity of 3.5% gross per year. The conversion period will be between January 22 2002 and December 15 2009.

* ABN Amro Bank NV Rating: Aa2/AA

* Bank Austria AG Deficiency guarantee from: City of Vienna

Euro trading was up on Wednesday as 18 trades were closed for $1.31 billion. As with trading on Tuesday, German issuers dominated the scene. Bank Austria closed the largest trade - a euro1 billion ($900.29 million) MTN via Bayerische Hypo-und Vereinsbank and Goldman Sachs. The trade has a tenor of five years and carries a coupon of Euribor +0.10000%. Bank Austria also closed the longest-dated trade - a euro60 million note that goes out to December 5 2031. DaimlerChrysler Co-ordination Center did a six-month euro100 million note and Westdeutsche Landesbank Girozentrale did a five-year euro25 million note that pays an annual coupon of 8.375%. Volvo Treasury went for six-months with a euro49 million MTN that carries a final coupon of 3.590%. The private placement was lead-managed by ABN Amro. Vattenfall Treasury went out longer, with a euro8.50 million note that reaches out to January 30 2011. Societe General Acceptance closed three trades, all for euro2 million. And Merrill Lynch acted as bookrunner on a euro25 million note from European Investment Bank. The note has a 15-year tenor.

Euro trading quietened down on Thursday as nine trades were closed in all. And only one issuer below a single-A rating was seen. B+/B2-rated Unibanco - Uniao de Bancos Brasileiros did a euro0.22 million ($0.20 million) MTN that goes out to May 7 2002. Popular Finance (Cayman) was the only issuer looking for volume. It closed a two-year euro500 million MTN that pays interest quarterly. Deutsche Bank closed two trades for euro41 million combined and also looked for long tenors. It did a euro11 million note that goes out to October 7 2016. The note carries a single interest payment frequency. It also closed a 25-year euro30 million MTN. And Barclays Bank did a five-year euro10 million note. Morgan Stanley's financial repackaged vehicle. ELAN, did a euro5 million note that matures on September 14 2005. And the supranational, International Bank for Reconstruction and Development, did a one-year euro45 million note that carries a semi-annual coupon of 3.020%.