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  • Syndication of Emirates Bank International's $200m three year loan is well oversubscribed and could close at $300m. The lead banks are waiting on a couple more banks to respond before wrapping up the deal, probably on Monday.
  • Rating: Aa2/AA+
  • Rating: Aa3/A+
  • Freddie Mac astonished the bond market this week by replacing its executive management team, and then, as its spreads widened sharply, launching a $10bn buyback programme.
  • Freddie Mac astonished the bond market this week by replacing its executive management team, and then, as its spreads widened sharply, launching a $10bn buyback programme.
  • Barclays Capital and Merrill Lynch have been mandated to arrange £530m of senior debt to support Terra Firma's buy-out of Waste Recycling Group from Kelda.
  • The problems experienced by Freddie Mac pushed agency spreads wider and created a wave of selling of agency product. But Freddie's problems created a positive backdrop for the likes of Austria and BNG, which issued 10 and five year Eurodollar bonds respectively and the EIB, which had an immensely successful outing with its Eu5bn 10 year EARN.
  • Dresdner Kleinwort Wasserstein has appointed David Wenman as global head of equity products to replace Roselly Ramseyer-Torres.
  • Rating: Aa3/AA-/AA-
  • Rating: Aa3/AAA
  • When Deutsche Bank recently broke with borrower Volkswagen by refusing at the last minute to sign up to a low yielding credit facility, did it open a new chapter in the way banks and clients manage their relationships? Was it a masterstroke by Deutsche, or a re-assertion of clients' rights by Volkswagen? Neil Day reports.