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Parmalat launched its second convertible this year yesterday (Thursday) when it raised Eu246m of 20 year money via Morgan Stanley. The offering enabled Parmalat to lock in long term funding, after poor investor sentiment forced the Italian dairy company to reduce the size of its straight bond issue two weeks ago.

Rating: Baa1 Amount: $950m global 144a

Rating: Aaa Amount: Sfr200m (fungible with three issues totalling Sfr1.2bn first launched 14/11/01)

The $250m one year bridge facility for National Power Corp, arranged by Citigroup/SSB, Crédit Lyonnais, Standard Chartered and Sumitomo Mitsui Banking Corp, has received a favourable response from the market. A number of commitments have been made. The deadline for responses has been extended to allow extra time for a few stragglers.

Novartis, GMAC, Suez, EdF, TMCC and Bouygues were among the high profile corporate names that returned to the euro markets this week. Although the bulk of the deals went well, GMAC struggled to keep the spread on its new Eu1bn November 2005 bonds from blowing out.

Shortlisted banks will present committed offers next week in the second round of bidding for the mandate to arrange a $200m 2-1/2 year facility for Polish Oil & Gas Company (PGNIG),. The deal will refinance the borrower's July 2001 $150m 1-1/2 year facility and will also provide for new working capital.

Mandated arrangers Landesbank Schleswig-Holstein and RZB have closed syndication of the Eu50m three year term loan for Banco Internacional do Funchal SA (Banif). The loan, which carries a two year extension option, pays a margin of 30bp over Euribor.

CIBC and Crédit Agricole Indosuez have decided not to launch the Eu910m of senior debt backing the buy-out of France's Elis by PAI from BC Partners into a formal round of retail syndication. Instead, the arrangers will quietly mop up the remaining Eu60m to be sold down through selective primary market sales.

Arrangers Commonwealth Bank of Australia, Deutsche Bank, JP Morgan and Westpac Banking Corp have received an excellent response to the $600m fundraising for WMC Resources. Some 13 banks have joined the arrangers. The facility is divided between a $350m three year term loan and a $250m 364 day revolving credit.

Rating: Aa3/AA- Amount: £250m (increased 13/11/02 from £200m)

Avis Europe is in the market with a new £500m facility. Dresdner Kleinwort Wasserstein and Barclays are thought to be close to the deal.

Is Sallie Krawcheck, the new acceptable face of Salomon Smith Barney, about to become a Wall Street icon? It certainly looks that way. Rarely have we seen such interest in a lady Wall Street superstar - well, at least since Lehman's Elaine Garzarelli modelled fishnet stockings and other eye-catching lingerie. Because Sallie Krawcheck is attracting far more attention than Madonna, everyone is lining up to say that they knew her when she was a mere slip of a girl from Charleston, South Carolina, with a wonderful southern lilt that clearly mesmerised her early interviewers.