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The biggest gainers of market share this week by issuer type were private corporates. Reflected in the growth of single-A issuance over the week, private corporate volumes took an 11.32% share of the market, up from 8.77% last week. Private bank issuance rose slightly from 42.75% to 44.54%, while public bank volumes fell from 19.84% to 16.43%. Supranationals' share of the market edged higher, from 7.9% to 8.14%.

Issuance at the short end of the yield curve rose this week, gaining market share at the expense of the medium term maturities, while longer dated volumes eased only slightly. Volumes up to one year grew from 7.97% to 8.89% and the one to three year bracket's share of issuance grew from 24.88% to 30.8%.

Investors were willing to take on lower rated issuance this week. Single-A credits took a 19.73% share of the market, up from 11.7% the previous week. This was at the expense of triple-A and double-A volumes, the former falling from 45.65% to 42.42% and the latter from 36.36% to 34.2%. Triple-B volumes remained extremely low, at a mere 0.06%, while unrated issuance fell from 5.95% to 3.59%. Euros and dollars accounted for the majority of single-A trades, with 17 out of the 73 euro trades this week and 23 out of the 131 dollar trades in the rating bracket. However, although only seven of the yen issues out of 84 were single-A rated, they were all chunky trades.

British Aerospace has re-approached its banks and requested proposals for a $2bn loan. BAe last borrowed in August 2002 when it tapped the market for a £469m 364 day revolver. Barclays, Deutsche Bank, Citigroup, Dresdner Kleinwort Wasserstein, KBC, Royal Bank of Scotland and Lloyds led the deal.

Amount: Eu4.84bn Rating: Fitch/Standard&Poor's

Caracas-based Corporacion Andina de Fomento is understood to have delayed a $300m-$500m Yankee bond following this week's opportunistic hit on the euro market. CAF surprised bankers with a Eu100m re-opening of its 6.375% of 2009s, led by Dresdner Kleinwort Wasserstein after the bank detected buyer interest at a 240bp level that was flat to secondaries. The re-opening took total size of the bond to Eu450m.

Rating: Aa3/AA- Amount: $50m

Rating: Aaa/AAA Amount: Eu330m (fungible with nine issues totalling Eu1.707bn first launched 13/03/03)

Rating: Aa3/AA- (Moody's/Fitch) Amount: Eu250m

Rating: A1/A+/AA- Amount: Eu200m

Who remembers Steven Berger from his time in Europe as head of investment banking for Lehman Brothers International? To do so, you might have to possess a grey hair or two, but our ever-faithful back copies of the Euromoney directories between 1992 and 1995 show him as both head of mergers and acquisitions and investment banking.

Co-ordinating arrangers SG Asia, BNP Paribas, Bumiputra Commerce Bank, Crédit Lyonnais, Den norske Bank and ICBC have closed the $131.16m 10 year ship financing for China Ocean Shipping (Cosco). Arrangers are Industrial Commercial Bank of China, NordLB, China Construction Bank and Guangdong Development Bank.