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Banco Bradesco wrapped up January's spree of Brazilian bank offerings overseas this week by announcing a Eu50m six month deal. The offering, led by Banco Espirito Santo de Investimento, was announced yesterday (Thursday) and will be priced to yield 6.125%-6.375%.

Issuance between five and seven years was the big growth area in the last seven days. Just shy of $1bn was issued from 78 trades. Lloyds TSB Bank was one of the most active borrowers in this maturity range. The largest of its four dollar deals was for $20m.

Volumes from private corporates continue to grow, topping $800m this week. Banque PSA Finance's Eu100m note was the largest individual deal from this issuer type. The two year trade pays a coupon of 20.5bp over six month Euribor. DZ Bank was the bookrunner. A number of different currencies were tapped by private corporates. TotalFinaElf Capital issued a C$100m trade with a 10 year tenor. The note pays an annual coupon of 4.25%. Sweden's Vasakronan issued a Skr115m trade. The five year note pays a quarterly coupon. And Volkswagen Financial Services issued a £10m one year deal with monthly interest payments.

EuroWeek hears that five of the 10 banks that were invited into the first stage of syndication of Cadbury Schweppes' acquisition facility have come into the deal. Some banks have complained about the facility's aggressive pricing, however.

Double-A issuance continues to outpace all other rating categories, with $3.3bn issued from 174 trades. French borrowers were dominant, issuing 59 notes for over $635m. Caisse Nationale des Caisses d'Epargne et de Prévoyance (CNCEP) was one of the most visible names. Among its issuance was a Eu105m trade through Nomura. The note pays a coupon of 1bp under three month Euribor.

Guarantor: Caixa d'Estalvis de Catalunya Rating: A2/A (Moody's/Fitch)

There was little surprise in the equity markets when Cazenove announced this week that it was postponing its flotation indefinitely because of the appalling state of the stock markets. The FTSE 100 has sunk 11.6% since the beginning of the year, and with war in Iraq imminent, equity capital markets bankers are not planning any flotations in Europe in the near future.

Rating: Aa1/AA- Amount: $2bn (increased from $1.5bn on 30/01/03)

The $175m five year fundraising for Florens Container Corp SA has closed oversubscribed and was increased from $150m. Arrangers are Bank of Communications (Hong Kong) holding $28m and ABN Amro, Agricultural Bank of China (Hong Kong), BayernLB (Hong Kong), China Construction Bank (Hong Kong), SG and Shanghai Pudong Development Bank pledging $20m apiece.

Rating: Aa1/AA- Amount: $2bn (increased from $1bn)

Rating: Aa1/AA- Amount: $2bn (increased from $1bn)

Mandated arrangers Bank Austria Creditanstalt, BayernLB and Sumitomo will close senior syndication of the Eu150m five year facility for Privredna Banka Zagreb (PBZ) by Monday and the deal will be launched into general syndication on Wednesday. For further details see EuroWeek 786.