Pre-migration untagged articles

UK covered bonds will not be granted 10% risk weighted status at the beginning of next year, as had been expected, after the Treasury announced it would introduce secondary covered bond legislation by the end of 2007, or earlier if possible.

OTP Mortgage Bank this week issued the largest Hungarian covered bond, a Eu750m five year issue.

Rosneft, the Russian state oil company, launched its $8.5bn-$11.6bn IPO this week with a valuation deemed racy and a list of potential risks that occupied a sizeable swathe of the 500 page prospectus.

Movement in the tables was limited this week, in keeping with the approach of the summer holiday period and World Cup lull.

The Turkish central bank made another fierce intervention to halt the lira's decline and quell rising inflation on Sunday, when it raised its benchmark interest rate by 2.25%.

BNP Paribas's Kat Mitchell is taking a leaf out of her boss Rupert Lewis's book, and is off on sabbatical from today.

Bookrunner Dresdner Kleinwort has increased the margin and fees on the £555m five year loan backing Macquarie Bank's acquisition of Moto, an operator of UK motorway service areas, from Select Services Partners.

Senior debt issuance in Europe by financial institutions picked up sharply this week, with Eu9.6bn of issuance and deals in sterling and dollars hitting the market.

Shell and Tate & Lyle, Yankee issuers at opposite ends of the credit spectrum, each found there were benefits to be had in tapping the US corporate bond market this week, despite — and because of — its volatility. Shell International Finance was able to capitalise on the flight to liquidity by US investors when it raised $1bn through five year fixed rate bonds, led by Lehman Brothers, Merrill Lynch and Morgan Stanley.