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Banco di Napoli has added BNP Paribas as a dealer to its euro2 billion Euro-MTN programme.

In a market where no one wants to be the first to test investors' appetite for new shares, companies from the old economy are setting the tone by selling blocks of non-strategic assets. This week, BNP Paribas sold Eu532m in EADS stock while Morgan Stanley sold Royal Ahold shares worth Eu346m. The French market got the ball rolling on Monday evening when BNP Paribas led with a block trade of 24.2m shares in European Aeronautic Defence and Space Company (EADS). The deal was done in 24 hours and sold to European, Asian and US investors.

German corporate BASF has increased the ceiling off its $2.3 billion global CP shelf to $5 billion.

Sole arranger and underwriter BNP Paribas will launch syndication for the $85.505m senior and $18.245m mezzanine debt facilities supporting the leveraged buy-out of Peek Traffic next week. The deal is structured into various tranches. Some $60.505m of debt is split between a seven year term facility ('A') and an eight year facility ('B'). Tranche 'C' is a $25m revolving credit and tranche 'D' is a $18.245m nine year mezzanine portion.

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