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General Electric (GE) sold a $5bn 10 year global bond via Citigroup/SSB, Lehman Brothers and Morgan Stanley this week which aroused much speculation. Dealers wondered if the notes were to be swapped to floating rate or not. Clearly, if a swap of a transaction as big as this were to be executed it would have a big impact even upon a interest rate swap market as liquid as dollars. The financing was designed to term out CP which had been bought at the end of last year and then passed on to General Electric Capital Corporation (GECC) to shore up its triple-A credit rating, the company explained.

General Electric Company proved the jumbo global bond structure is still alive and kicking this week by issuing a blowout $5bn 10 year offering.

Rating: Aaa/AAA Amount: $5bn

Sole mandated arranger HVB this week launched the debt facilities backing the Carlyle-led buy-out of car parts manufacturer Edscha into an initial stage of sub-underwriting. A small number of banks have been asked to take Eu90m to be brought down to Eu45m for a 140bp underwriting fee.

Mandated arrangers Bank of Tokyo-Mitsubishi (bookrunner), Citigroup/SSSB (bookrunner) and National Bank of Greece are collecting commitments for the $200m three year dual tranche bullet term loan for Hellenic Petroleum. Up to $135m in commitments have already been received. The deal will close late next week and signing will take place in the middle of February. For more details see EuroWeek 786.

Rating: Aa3/A+/AA- Amount: Eu700m (increased from Eu500m)

Guarantor: Franz Haniel & Cie GmbH Rating: A3/A-

Guarantor: Bank of Scotland Rating: Aa2/AA/AA+

Banca Popolare di Lodi will raise more than Eu2bn over the next three years to help position it as one of Italy's top 10 banking groups and strengthen its capital ratios. The bank, which is restructuring, aims to have a distribution network of at least 1,000 branches by the end of the year.

Rating: Aaa Amount: Eu3bn cédulas hipotecarias

Rating: Aaa/AAA/AAA Amount: Nkr500m

Rating: A1/A+/BBB+ Amount: Eu150m