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War fears continued to suffocate the corporate new issue market this week. And while companies such as France Télécom, Deutsche Telekom and Vivendi Universal competed to register record losses, Ahold, General Motors and Olivetti continued to generate negative headlines. There were, however, encouraging developments in the sterling and euro corporate market. This week has been a desperate one for the euro corporate market, but it is due to end with the award of a mandate by Italian energy company ENI for a Eu1.5bn bond issue, which the company suggested may have a multi-tranche structure. Bankers expect a 10 year maturity.

Rating: A1/A Amount: Sfr200m Hypothekenpfandbrief

Rating: A1/A Amount: Eu2bn

Rating: Aaa/AAA Amount: Eu100m inflation linked

The European Investment Bank (EIB) will next week launch its fourth Eu5bn EARN transaction, an October 2008 bond to be lead managed by Barclays Capital, BNP Paribas and Morgan Stanley. Officials at the leads are confident that demand for the paper will be strong given the safe haven status offered by the Luxembourg-based supranational's paper.

Compiled by Annie Seelaus HSBC Bank plc, London

Rating: Aaa/AAA Amount: $500m

As the threat of war with Iraq looms ever closer, the bond markets become ever quieter. There was little new issuance this week and the pipeline of prospective issuance remains thin as borrowers choose to wait and see, rather than commit to coming to the market. The European Central Bank yesterday (Thursday) took a small step to shore up the faltering euro economy, cutting rates by 0.25% to 2.5%. Some analysts had forecast a more aggressive cut of 0.5%. The market as a whole seemed disappointed by the bank's lack of movement.

The $287.5m project financing for Burrup Ammonia Plant Project is receiving a positive response from the market. Arrangers ANZ Investment Bank, BOS (International) Australia, Bank West and National Australia Bank roadshowed the deal in January and expect commitments before the end of March.

Rating: A1/BBB/A- Amount: Eu300m

Rating: A1/A/A+ Amount: Eu135m