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The highly successful European securitisation team at BNP Paribas this week moved wholesale to Credit Suisse First Boston, in the most dramatic team defection in European structured finance for many years. CSFB confirmed today (Thursday) that it had hired Maarten Stegwee, BNP Paribas' global head of securitisation, Adrian Carr, head of ABS syndication, and three other officials. But altogether, at least 10 staff are expected to move to CSFB, with some observers putting the figure at 16.

Hungary JP Morgan has provided Mol, the Hungarian oil and gas company, with a $300m one year deal, with no immediate plans for further syndication.

A MIX of European equity linked instruments were offered to investors this week with deals launched for EFG Eurobank, Nestlé and Wegener Arcade. Deutsche Bank has launched a Eu300m bond offer for Greece's EFG, exchangeable into shares of EFG Eurobank. The five year deal is structured as undetachable bonds with warrants and the deal will close on Wednesday.

EUROPEAN Internet Capital's (EIC) forthcoming admission to Aim following a £100m placing by Cazenove will cap a rapid ascent since seed funding just seven months ago. In January this year, the company - which seeks to invest in business-to-business internet firms - raised £13.6m in second stage funding and in March it formed a newly incorporated holding company.

A MIX of European equity linked instruments were offered to investors this week with deals launched for EFG Eurobank, Nestlé and Wegener Arcade. Deutsche Bank has launched a Eu300m bond offer for Greece's EFG, exchangeable into shares of EFG Eurobank. The five year deal is structured as undetachable bonds with warrants and the deal will close on Wednesday.

Finland * Online broker eQ-Online will begin trading today (Friday), having priced at the top of its range following a four times oversubscription overall.

JP MORGAN has announced a price range for the Eu440m-Eu525m IPO of French credit insurer Euler. The offering of existing shares by the principal shareholders of the company will be priced on April 26 with trading a day later. A range of Eu50.5-Eu59.5 has been set to give Euler - the world's leading credit insurer - a market capitalisation of between Eu1.8bn and Eu2bn. A total of 8.797m shares will be sold, or 25% of the company. Should the greenshoe of 15% be sold, 29% of the company will be in freefloat.

Freddie Mac last week survived debt markets battered by falling stockmarkets and widening swap and credit spreads by successfully reopening its five and 30 year Reference Securities. While other issuers felt it appropriate to postpone their transactions, Freddie Mac stuck to its programme, but sized its deals at the lower end of the range to avoid overwhelming the market at a time when there were question marks over such big supply being absorbed. The January 2005 Reference note was reopened for $2bn and the September 2029 for $1bn.

Israel Chemicals Limited (ICL), one of Israel's most prolific borrowers, is back in the loan market with a $75m five year term loan. The deal is to be arranged by WestLB. The transaction will be especially targeted at German banks, and loan officials said that it was a fine achievement for a German bank to have won the mandate.

Greenwich NatWest and Royal Bank of Scotland this week launched the first bond for over three years to finance a UK road project, with a £111.1m deal for Road Management Services (A13) Plc. The company has been formed by AMEC, Alfred McAlpine plc, Brown & Root Ltd and Dragados Concessionaires Ltd to engage in a 30 year design, build, finance and operate contract with the Highways Agency, signed this week, to upgrade and then maintain a 20km stretch of the A13 road, which connects East London with Essex.