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  • Leeds United, the UK football team, this week reported a £49.5m loss for the year to June 2003 and announced it is in negotiations to restructure its £60m securitisation.
  • Barclays Bank last week successfully completed a £400m securitisation of emerging surplus from its closed book of pension and life insurance contracts - the first European deal in the asset class since 1998.
  • HVB has brought what it terms a new asset class to the German synthetic market, with the launch of a collateralised loan obligation referencing a highly granular pool of loans to small and medium sized enterprises.
  • Eurohypo has launched Europa Three Ltd, a synthetic securitisation of pan-European commercial mortgages, via Commerzbank.
  • Punch Taverns this week launched the restructuring of its two securitisations, issuing £965m of new bonds via Citigroup and RBS Financial Markets.
  • Dutch retail company Eastbridge this week completed its Eu74m commercial mortgage securitisation of 12 Polish department stores, thought to be the first Euromarket term securitisation out of Poland.
  • A BBC television documentary this week recorded several instances of UK brokers and estate agents encouraging undercover reporters to exaggerate their income to obtain a mortgage.
  • The Spanish residential mortgage backed market got a new product this week when the European Investment Bank bought a specially designed tranche of a securitisation for 13 rural savings banks.
  • South Africa's Absa Bank this week launched a R3bn securitisation of auto loans via Absa Corporate and Merchant Bank.
  • Banco Pastor this week launched the latest securitisation of Spanish SME loans under the government backed FTPYME programme. SG led the Eu225m issue.
  • Barclays Capital has hired Mark Higgins, an equity derivatives sales professional covering Irish and Scandinavian clients at SG Corporate and Investment Banking in London, to fill a newly created role in the investor solutions team. He is covering the same client base.
  • Mirant Corp. bank debt ticked up roughly a point after the company announced that it had reached a settlement with Pepco Holdings.