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Rating: Aaa/AAA/AAA Amount: Eu1.5bn obligations foncières

The covered bond market continued its recent successes with another flurry of issues this week. The two transactions which stood out were from Compagnie de Financement Foncier (CFF) and EuroHypo. Both transactions were launched on Wednesday. Barclays Capital and CDC IXIS lead managed a Eu1.5bn 3.635% five year obligation foncière for CFF, while EuroHypo brought a Eu3bn 4.5% 10 year Öffentlicher Pfandbrief through Commerzbank, Deutsche Bank and Dresdner Kleinwort Wasserstein (DrKW).

Crédit Agricole Indosuez has proved the extraordinary depth of the Asian retail market for tier one capital paper with a $1.5bn preference share issue that was priced with a coupon of 7.00%. Bookrunners Crédit Agricole Indosuez (CAI), JP Morgan and Morgan Stanley attracted $2.4bn in demand. Around 70% of that was from retail and the average ticket size was only $7m.

Crédit Agricole Indosuez has proved the extraordinary depth of the Asian retail market for tier one capital paper with a $1.5bn preference share issue that was priced with a coupon of 7.00%. Bookrunners Crédit Agricole Indosuez (CAI), JP Morgan and Morgan Stanley attracted $2.4bn in demand. Around 70% of that was from retail and the average ticket size was only $7m.

Guarantor: Argenta Banque d'Epargne SA, Belgique, Argenta Bank en Verzerkeringsgroup NV Amount: Eu50m

Burns Philp, the multinational natural food ingredients company, is on course for its A$2.4bn acquisition of Goodman Fielder, Australia's largest food company, after the takeovers panel insisted on only minor changes in conditions attached to the offer. The changes enable Goodman Fielder shareholders to withdraw their acceptance of the offer until 10 days after Burns Philp publishes the final terms and conditions of its finance facilities. Additionally, Burns Philp agreed to withdraw its right to scrap the bid should some adverse change occur or if financial markets fall sharply.

The Republic of Austria this week added the 15 year maturity to its benchmark government bond curve with the launch of a Eu4bn January 2018 transaction via Citigroup/SSSB, Deutsche Bank and UBS Warburg. Price talk for Austria's transaction, which was officially launched on Wednesday, began at 9bp-12bp over the 2016 OAT. The wide range was designed to attract as many investors into the deal as possible. It then became clear that a single-digit spread over the OAT would be too aggressive but, at the same time, 12bp was quickly discarded and talk refined to 10bp-11bp over.

Rating: Aa2/AA- Amount: Eu3bn Cédulas Hipotecarias

Rating: Aaa/AAA/AAA Amount: £100m (fungible with £100m issue launched 15/08/02)

Rating: Aa2/A+ Amount: $1bn

Bank of Canada deputy governor Malcolm Knight is to become the first non-European general manager at the Bank for International Settlements (BIS). He is to replace Andrew Crockett, who announced his departure in July. Crockett is a favourite to replace Andrew Davies as head of the UKs Financial Services Authority. Knight was selected by Nout Wellink, president of the BIS and chairman of its board of directors, helped by a committee that included senior representatives of the Federal Reserve and the central banks of Italy, France, Japan and Switzerland.

Amount: Sfr100m Maturity: February 24, 2011