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  • Goldman Sachs' head of European equity syndicate resigned this week, becoming the first high profile departure of the year for the equities market. John Derrick, who only became head of syndicate last summer after the departure of Goldman Sachs stalwart Sylvia Watson, is planning to move into the wine industry. Nicholas Rees, a junior syndicate member, is also leaving the bank and will take a break from the market.
  • The Latin American new issue market started the year with a bang this week, with Chile and Mexico both issuing blowout global bonds and many more borrowers looking to take advantage of booming high grade and emerging bond markets.
  • The Latin American new issue market started the year with a bang this week, with Chile and Mexico both issuing blowout global bonds and many more borrowers looking to take advantage of booming high grade and emerging bond markets.
  • ABN Amro and Standard Chartered have won the mandate to arrange a dollar fundraising for China National Chemicals Import-Export Corp (Sinochem). The borrower's last deal was a $170m three year credit that was priced at 65bp all-in and was well received by the market with 10 banks joining arranger ABN Amro. The facility was increased from $150m following a substantial oversubscription.
  • Citigroup/SSB has bought a 5% share in Shanghai Pudong Development Bank (SPDB) in a deal worth $72m. The move will enable Citigroup to enter China's burgeoning credit card market and take a seat on the board of SPDB, China's second biggest publicly traded lender. Citigroup has considerable experience in China, having established its first office in the country in 1902.
  • Rating: A2/A/A Amount: $200m
  • Rating: Aaa/AAA/AAA Amount: $750m
  • Mandated arrangers Bank Austria Creditanstalt, BayernLB and Sumitomo will launch syndication of the Eu150m five year facility for Privredna Banka Zagreb (PBZ) in the next two weeks.
  • Credit Suisse First Boston has been appointed dealer manager for an exchange offer of Asda Group sterling bonds into a new Wal-Mart 10 year sterling transaction. The Asda bonds involved are £200m of the 8.375% due 2007, £75.84m of the 10.875% due 2010 and £150m of the 6.625% due 2015.
  • Guarantor: DaimlerChrysler AG Rating: A3/BBB+
  • Mandated arrangers Citigroup/ SSSB, and Nordea have signed banks into the Eu400m five year facility for Novo Nordisk. The deal was oversubscribed and increased to Eu500m at signing. For more details see EuroWeek 780.
  • Rating: Aa3/A/A+ Amount: Eu750m