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Intesa is still planning to launch its inaugural securitisation of leases later this year. The bank is lining up a Eu1.5bn issue - one of the largest yet in the asset class.

Ofwat, the UK water regulator, this week published a report on Northumbrian Water, questioning whether the company's credit rating was sustainable in the long term because of its capital requirements, and threatening to modify the company's licence.

JP Morgan last week launched the second cash collateralised debt obligation (CDO) of European asset backed securities (ABS) for Dublin-based firm Zais Group Investment Advisors, the latest in a rash of such deals launched in recent months.

The Spanish pipeline for September and October is filling up with the addition of Ibercaja's first solo securitisation of residential mortgages.

Charter Communications bank debt has recovered from a brief dip in levels that occurred following the company's decision to cancel a tender offer for senior notes and senior discount notes. By midweek, the company's term loan "B" was trading in the 93 1/2 - 94 range up from the 91 1/2 - 93 1/2 range. The company was pursuing a $1.7 billion proposed note sale to back the tender offer. While $500 million of this new financing had been earmarked to pay down one or more of Charter's credit facility, traders had said that the effect of any pay down of the trading level for the bank debt would be minimal due to the large amount of bank debt that the company has outstanding across a number of different facilities. Calls to a Charter spokesman were not returned by press time.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

"It's an idea I have."--Hee Dong Kim, head of the financial engineering department at Korea Exchange Bank in Seoul, talking about his plans for investing in synthetic collateralized debt obligations. For complete story , click here.

UBS is preparing to trade Mexican peso-denominated derivatives, including interest rate and credit products by the end of the month as part of its expansion into emerging markets. "It's taken some time but we're all set now," said Joonkee Hong, global head of emerging market derivatives in New York.