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Rating: Aaa/AAA Amount: Ck1bn (increase to Ck1bn issue launched 12/02/03)

Rating: Aaa/AAA Amount: £105m RPI linked amortising bond

Rating: Aaa/AAA Amount: Ck2bn

Compiled by Annie Seelaus, HSBC Bank plc, London Tel: +44 (0) 20 7336 3525

Amount: ¥6.4bn Rating: Standard & Poor's

Mandated arrangers Commerz-bank, Danske Bank and LB Kiel this week launched syndication of the $150m five year multi-currency revolver for Finnforest Oyi. Two tickets are on offer: co-arranger for $20m for 17.5bp; and senior lead manager for $10m for 12.5bp. A bank meeting will be held at the borrower's offices in Espoo next week. The deadline for commitments is March 11 and signing has been earmarked for the week of March 31. Proceeds are for general corporate purpose and to refinance a $130m revolver secured in February 1998.

German banks and Germany itself must adapt or face downgrades, analysts from Fitch Ratings told delegates at the 2003 Euromoney Bond Investors Congress this week. "Large German banks will not be able to survive in a global context unless there is fundamental change in the structure of the system and within the banks themselves," said Bridget Gandy, a managing director in the financial institutions group at Fitch.

Guarantor: Fortis SA, Fortis NV Rating: Aa3/A+/A+

Bank of America (documentation, agent and bookrunner), SG (information memorandum and bookrunner) and Royal Bank of Scotland have launched the Eu400m revolving credit for recruitment agency Adecco into syndication. Banks have been invited to take Eu45m for 22.5bp, Eu30m for 16.5bp and Eu20m for 12.5bp.

Rating: Aaa/AAA Amount: $2bn

Finance officials from the world's most powerful industrial nations will this weekend assess a radical UK plan to increase aid to developing countries using securitisation. The aim is to double the annual flow of aid to developing countries from $50bn to $100bn by persuading rich countries to make long term commitments to aid donations, which can then be securitised.