Pre-migration untagged articles

Depfa ACS Bank put the finishing touches to its dollar curve this week with a $1bn 10 year benchmark that cemented its position in the dollar market.

Inflationary pressures came to the fore again this week as US producer prices rose sharply and investors worried about rising interest rates and slow earnings growth.

Inflationary pressures came to the fore again this week as US producer prices rose sharply and investors worried about rising interest rates and slow earnings growth.

US pharmaceutical company Pfizer issued the first trade from its recently signed $14bn multi-currency global CP programme yesterday (Thursday). "Pfizer has a deep, long-term requirement," said a London based trader. "We managed to get one trade away today, an $80m ticket, which is the only one done so far."

Eurohypo achieved a historically tight spread on its Eu2bn 10 year global Hypothekenpfandbrief this week with a rare jumbo at the long end of the curve.

BNP Paribas has replaced Deutsche Bank as arranger on UK retail chain Kingfisher's Eu2.5bn EuroMTN programme. Calyon and WestLB have been dropped from the dealer group and replaced by Morgan Stanley, SG CIB and Standard Chartered Bank.

The EuroMTN market experienced solid flows this week. Equity-linked deals referencing either a single index or a basket of indices are receiving strong investor demand. "For the past month we have not really seen much interest in equity-linked tickets," said a London-based banker. "But this week was a bumper one for the product, the flows were well up and several decent sized tickets were printed."

Land Nordrhein-Westfalen took advantage of Canada's decision to abandon the Foreign Property Rule and issued a C$200m ($170m) bond this week. The rule, which had limited the foreign holdings of Canadian investors to 30% of their portfolios (raised from 20% in 2001), was abolished in February.

ABN Amro, the bank that once inspired more yawns than a heavy dose of Mogadon, is on the march and changing the palace guard. Ever since Rijkman Groenink took over and summoned up the courage to float most of the bank's layers of dead wood out into the North Sea, there has been a sense of urgency about ABN Amro.

UK pipe systems supplier Polypipe was the only high yield issuer this week, but a volatile market forced the leads to price the bond wider than initial guidance.