Pre-migration untagged articles

s something beginning to stir at Morgan Stanley? Our pals in New York say that Stanley is on a roll and that money is cascading on to the firm's bottom line.

Financial covenants on leveraged loans took a further beating this week as it was revealed that the loan supporting the buy-out of NXP Semiconductors did not carry any financial maintenance documentation.

Acciona, the Spanish infrastructure company, could scupper German utility group E.On's hostile takeover of Spanish electricity group Endesa after it acquired 10% of Endesa's shares using a syndicated loan arranged by Banco Santander Central Hispano.

The sterling market took centre stage in the European corporate bond market as Bouygues, ITV (see separate credit story) and Next issued bonds. The trend is set to continue as Saint Gobain and Centrica are said to be looking at deals in coming weeks.

One year after its summit meeting with the 14 primary dealers about the credit derivatives industry, the New York Fed has hailed the progress made.

Financial covenants on leveraged loans took a further beating this week as it was revealed that the loan supporting the buy-out of NXP Semiconductors did not carry any financial maintenance documentation.

Citigroup is still on top in table one this week after printing $539.7m in 24 deals. Among the bank's transactions was a Eu100m five year note for Crédit Agricole and a HK$1bn ($128m) three year bond for DnB NOR Bank.

Stories continue to come and go about US carmakers. Yesterday (Thursday) it was reported that Tracinda was interested in buying another 6m GM shares.

James Wolfensohn, the former World Bank president, is set to become a special adviser to Kazakhstan's president, Nursultan Nazarbayev, on the formation of Almaty's Regional Financial Centre.